Paloma Partners Management Co increased its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 33.4% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 34,145 shares of the company’s stock after acquiring an additional 8,557 shares during the period. Paloma Partners Management Co’s holdings in Neurocrine Biosciences were worth $2,649,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company lifted its position in Neurocrine Biosciences by 7.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,665 shares of the company’s stock worth $123,000 after acquiring an additional 193 shares in the last quarter. Crow Point Partners LLC acquired a new position in Neurocrine Biosciences during the 4th quarter worth approximately $145,000. American International Group Inc. acquired a new position in Neurocrine Biosciences during the 4th quarter worth approximately $161,000. M&T Bank Corp acquired a new position in Neurocrine Biosciences during the 4th quarter worth approximately $202,000. Finally, Mission Wealth Management LP acquired a new position in Neurocrine Biosciences during the 4th quarter worth approximately $204,000.
In other news, insider Darin Lippoldt sold 15,237 shares of the business’s stock in a transaction that occurred on Thursday, December 28th. The stock was sold at an average price of $75.00, for a total value of $1,142,775.00. Following the completion of the sale, the insider now directly owns 28,394 shares in the company, valued at approximately $2,129,550. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Kevin Charles Gorman sold 105,983 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $80.25, for a total value of $8,505,135.75. Following the completion of the sale, the chief executive officer now owns 339,482 shares of the company’s stock, valued at $27,243,430.50. The disclosure for this sale can be found here. Insiders sold a total of 399,589 shares of company stock valued at $32,443,795 over the last quarter. Company insiders own 4.80% of the company’s stock.
Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings results on Tuesday, February 13th. The company reported $0.07 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.11). The firm had revenue of $94.52 million during the quarter, compared to analyst estimates of $94.00 million. During the same period last year, the business earned ($0.51) EPS. sell-side analysts predict that Neurocrine Biosciences, Inc. will post -0.25 earnings per share for the current fiscal year.
A number of equities analysts have issued reports on NBIX shares. Oppenheimer set a $100.00 target price on Neurocrine Biosciences and gave the company a “buy” rating in a research report on Wednesday, February 14th. Needham & Company LLC upped their target price on Neurocrine Biosciences to $95.00 and gave the company a “buy” rating in a research report on Tuesday, January 16th. Deutsche Bank upped their target price on Neurocrine Biosciences to $97.00 and gave the company a “buy” rating in a research report on Wednesday, February 14th. BidaskClub raised Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, January 31st. Finally, Leerink Swann upped their target price on Neurocrine Biosciences from $90.00 to $96.00 and gave the company an “outperform” rating in a research report on Tuesday, February 20th. One analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $95.23.
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Neurocrine Biosciences Profile
Neurocrine Biosciences, Inc is engaged in discovering and developing pharmaceuticals, in diseases with unmet medical needs, through its research and development (R&D) platform, focused on neurological and endocrine based diseases and disorders. Its three lead late-stage clinical programs are elagolix, which is a gonadotropin-releasing hormone (GnRH) antagonist for endometriosis and uterine fibroids; INGREZZA (valbenazine), which is a vesicular monoamine transporter 2 (VMAT2) inhibitor, for the treatment of movement disorders, and opicapone, which is a selective catechol-O-methyltransferase inhibitor that is an adjunct therapy to preparations of levodopa/Dihydroxyphenylalanine (DOPA) decarboxylase inhibitors for adult patients with Parkinson’s disease.
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