Key Points
- Insider sale: Darin Lippoldt sold 4,376 shares at an average price of $159.65 on Dec. 8 for $698,628.40, cutting his stake by 9.16% to 43,405 shares (≈$6.93M).
- Earnings beat and analyst response: Neurocrine reported Q3 EPS of $2.17 (vs. $1.58 est.) and revenue of $794.9M (+27.8% YoY), leading multiple firms to raise targets and a MarketBeat consensus of Moderate Buy with a $173 price target.
- Market profile: Shares trade near the 52-week high (~$160), the company has a $15.52B market cap, P/E of 37.23 and PEG of 1.02, and institutional investors hold about 92.6% of the stock.
Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Get Free Report) insider Darin Lippoldt sold 4,376 shares of Neurocrine Biosciences stock in a transaction on Monday, December 8th. The shares were sold at an average price of $159.65, for a total transaction of $698,628.40. Following the completion of the transaction, the insider owned 43,405 shares in the company, valued at approximately $6,929,608.25. This trade represents a 9.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Neurocrine Biosciences Stock Performance
Shares of Neurocrine Biosciences stock opened at $155.63 on Thursday. Neurocrine Biosciences, Inc. has a one year low of $84.23 and a one year high of $160.18. The company has a market cap of $15.52 billion, a P/E ratio of 37.23, a PEG ratio of 1.02 and a beta of 0.27. The firm has a fifty day moving average of $144.68 and a two-hundred day moving average of $136.79.
Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last issued its earnings results on Tuesday, October 28th. The company reported $2.17 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.59. The business had revenue of $794.90 million for the quarter, compared to the consensus estimate of $746.61 million. Neurocrine Biosciences had a net margin of 15.95% and a return on equity of 15.82%. The business's quarterly revenue was up 27.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.81 earnings per share. As a group, equities analysts predict that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in NBIX. Assetmark Inc. raised its position in shares of Neurocrine Biosciences by 10.8% in the 2nd quarter. Assetmark Inc. now owns 21,001 shares of the company's stock worth $2,640,000 after buying an additional 2,045 shares during the period. Rhenman & Partners Asset Management AB grew its position in Neurocrine Biosciences by 66.1% during the second quarter. Rhenman & Partners Asset Management AB now owns 149,217 shares of the company's stock valued at $18,755,000 after acquiring an additional 59,400 shares during the period. Capital Fund Management S.A. increased its stake in Neurocrine Biosciences by 15.9% during the second quarter. Capital Fund Management S.A. now owns 203,628 shares of the company's stock worth $25,594,000 after acquiring an additional 27,987 shares during the last quarter. Saturn V Capital Management LP purchased a new position in shares of Neurocrine Biosciences in the 2nd quarter worth about $7,313,000. Finally, Envestnet Asset Management Inc. lifted its stake in shares of Neurocrine Biosciences by 61.9% in the 2nd quarter. Envestnet Asset Management Inc. now owns 198,039 shares of the company's stock valued at $24,891,000 after purchasing an additional 75,733 shares in the last quarter. Institutional investors and hedge funds own 92.59% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities analysts have issued reports on NBIX shares. Citigroup boosted their target price on Neurocrine Biosciences from $175.00 to $203.00 and gave the stock a "buy" rating in a research report on Wednesday, October 29th. Stifel Nicolaus increased their price objective on Neurocrine Biosciences from $174.00 to $183.00 and gave the stock a "buy" rating in a research report on Wednesday, October 29th. JPMorgan Chase & Co. raised their target price on Neurocrine Biosciences from $171.00 to $179.00 and gave the company an "overweight" rating in a report on Monday, November 3rd. Royal Bank Of Canada upped their price target on shares of Neurocrine Biosciences from $160.00 to $180.00 and gave the stock an "outperform" rating in a research note on Monday. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of Neurocrine Biosciences in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $173.00.
Get Our Latest Stock Analysis on NBIX
About Neurocrine Biosciences
(
Get Free Report)
Neurocrine Biosciences, Inc discovers, develops, and markets pharmaceuticals for neurological, neuroendocrine, and neuropsychiatric disorders in the United States and internationally. The company's products include INGREZZA for tardive dyskinesia and chorea associated with Huntington's disease; ALKINDI for adrenal insufficiency; Efmody capsules for classic congenital adrenal hyperplasia; Orilissa tablets for endometriosis; and Oriahnn capsules to treat uterine fibroids.
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