Total Clarity Wealth Management Inc. Increases Stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Total Clarity Wealth Management Inc. increased its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 4.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,433 shares of the company’s stock after acquiring an additional 100 shares during the quarter. Total Clarity Wealth Management Inc.’s holdings in Neurocrine Biosciences were worth $335,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its position in shares of Neurocrine Biosciences by 45.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 472,929 shares of the company’s stock worth $65,097,000 after purchasing an additional 147,907 shares during the period. Massachusetts Financial Services Co. MA raised its stake in Neurocrine Biosciences by 2.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 155,985 shares of the company’s stock worth $21,474,000 after buying an additional 4,112 shares in the last quarter. Plato Investment Management Ltd lifted its holdings in Neurocrine Biosciences by 44.1% during the second quarter. Plato Investment Management Ltd now owns 425 shares of the company’s stock worth $59,000 after buying an additional 130 shares during the period. WINTON GROUP Ltd bought a new stake in Neurocrine Biosciences during the 2nd quarter valued at $1,472,000. Finally, Envestnet Asset Management Inc. increased its holdings in shares of Neurocrine Biosciences by 1.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 202,793 shares of the company’s stock valued at $27,919,000 after acquiring an additional 3,396 shares during the period. 92.59% of the stock is currently owned by institutional investors.

Insider Transactions at Neurocrine Biosciences

In other news, insider Julie Cooke sold 10,000 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $140.19, for a total transaction of $1,401,900.00. Following the transaction, the insider now owns 18,202 shares in the company, valued at approximately $2,551,738.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Neurocrine Biosciences news, insider Ingrid Delaet sold 273 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $147.70, for a total transaction of $40,322.10. Following the completion of the sale, the insider now directly owns 6,607 shares in the company, valued at approximately $975,853.90. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Julie Cooke sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $140.19, for a total value of $1,401,900.00. Following the completion of the transaction, the insider now owns 18,202 shares in the company, valued at approximately $2,551,738.38. The disclosure for this sale can be found here. Insiders sold a total of 71,798 shares of company stock valued at $10,676,096 in the last three months. 4.30% of the stock is currently owned by company insiders.

Neurocrine Biosciences Stock Performance

NBIX stock opened at $122.25 on Tuesday. The firm’s fifty day moving average is $140.55 and its 200 day moving average is $138.56. The firm has a market cap of $12.30 billion, a PE ratio of 33.68 and a beta of 0.37. Neurocrine Biosciences, Inc. has a one year low of $103.63 and a one year high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its earnings results on Thursday, August 1st. The company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.52). The business had revenue of $590.20 million for the quarter, compared to analyst estimates of $545.98 million. Neurocrine Biosciences had a net margin of 16.00% and a return on equity of 14.86%. Neurocrine Biosciences’s revenue was up 30.4% on a year-over-year basis. During the same quarter last year, the business earned $0.95 earnings per share. Research analysts predict that Neurocrine Biosciences, Inc. will post 4.19 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have commented on NBIX shares. JPMorgan Chase & Co. increased their price target on shares of Neurocrine Biosciences from $173.00 to $181.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. HC Wainwright reaffirmed a “buy” rating and set a $190.00 target price on shares of Neurocrine Biosciences in a research report on Thursday, August 29th. Piper Sandler raised Neurocrine Biosciences from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $131.00 to $159.00 in a report on Thursday, August 29th. Oppenheimer upped their price objective on shares of Neurocrine Biosciences from $216.00 to $219.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Finally, BMO Capital Markets lowered their target price on shares of Neurocrine Biosciences from $142.00 to $128.00 and set a “market perform” rating for the company in a research note on Thursday, August 29th. Five research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Neurocrine Biosciences presently has an average rating of “Moderate Buy” and an average price target of $162.20.

Neurocrine Biosciences Profile

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.