Inspire Investing LLC Sells 512 Shares of Neurocrine Biosciences, Inc. $NBIX

Inspire Investing LLC lowered its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 18.6% during the 2nd quarter, Holdings Channel reports. The firm owned 2,238 shares of the company’s stock after selling 512 shares during the period. Inspire Investing LLC’s holdings in Neurocrine Biosciences were worth $281,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. IFP Advisors Inc raised its stake in shares of Neurocrine Biosciences by 4.2% during the 2nd quarter. IFP Advisors Inc now owns 2,172 shares of the company’s stock worth $273,000 after purchasing an additional 88 shares during the period. Callan Family Office LLC purchased a new stake in Neurocrine Biosciences during the second quarter worth about $285,000. KLP Kapitalforvaltning AS raised its position in Neurocrine Biosciences by 1.7% in the second quarter. KLP Kapitalforvaltning AS now owns 36,700 shares of the company’s stock worth $4,613,000 after acquiring an additional 600 shares during the period. QRG Capital Management Inc. raised its position in Neurocrine Biosciences by 12.6% in the second quarter. QRG Capital Management Inc. now owns 22,581 shares of the company’s stock worth $2,838,000 after acquiring an additional 2,519 shares during the period. Finally, Pure Financial Advisors LLC purchased a new position in Neurocrine Biosciences in the second quarter valued at about $339,000. Institutional investors own 92.59% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on NBIX shares. The Goldman Sachs Group assumed coverage on shares of Neurocrine Biosciences in a research note on Thursday, July 10th. They set a “buy” rating and a $182.00 price target for the company. JPMorgan Chase & Co. raised their target price on Neurocrine Biosciences from $140.00 to $145.00 and gave the stock a “neutral” rating in a research report on Thursday, July 31st. Weiss Ratings restated a “hold (c+)” rating on shares of Neurocrine Biosciences in a research note on Wednesday, October 8th. Needham & Company LLC upped their price target on Neurocrine Biosciences from $161.00 to $170.00 and gave the company a “buy” rating in a research report on Monday, September 22nd. Finally, Stifel Nicolaus increased their price target on Neurocrine Biosciences from $166.00 to $174.00 and gave the stock a “buy” rating in a research note on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Neurocrine Biosciences currently has an average rating of “Moderate Buy” and an average target price of $163.44.

Insider Buying and Selling

In other Neurocrine Biosciences news, Director Kevin Charles Gorman sold 106,322 shares of the firm’s stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $126.41, for a total value of $13,440,164.02. Following the completion of the transaction, the director directly owned 514,596 shares of the company’s stock, valued at $65,050,080.36. This trade represents a 17.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.80% of the stock is currently owned by insiders.

Neurocrine Biosciences Stock Performance

Shares of NBIX opened at $140.09 on Friday. Neurocrine Biosciences, Inc. has a 52-week low of $84.23 and a 52-week high of $154.61. The stock’s 50-day simple moving average is $138.65 and its 200 day simple moving average is $125.96. The stock has a market capitalization of $13.89 billion, a price-to-earnings ratio of 41.45, a price-to-earnings-growth ratio of 0.99 and a beta of 0.21.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.08. Neurocrine Biosciences had a return on equity of 13.22% and a net margin of 13.88%.The firm had revenue of $687.50 million for the quarter, compared to analysts’ expectations of $653.09 million. During the same period in the prior year, the business posted $1.63 earnings per share. The company’s revenue was up 16.5% on a year-over-year basis. On average, research analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

About Neurocrine Biosciences

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.