Brown Advisory Inc. increased its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 3.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 313,929 shares of the company’s stock after buying an additional 10,903 shares during the period. Brown Advisory Inc. owned about 0.35% of Neurocrine Biosciences worth $38,598,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in NBIX. Principal Financial Group Inc. raised its position in Neurocrine Biosciences by 1.6% in the first quarter. Principal Financial Group Inc. now owns 78,956 shares of the company’s stock valued at $6,547,000 after purchasing an additional 1,234 shares during the last quarter. Meeder Asset Management Inc. raised its position in Neurocrine Biosciences by 643.7% in the second quarter. Meeder Asset Management Inc. now owns 1,123 shares of the company’s stock valued at $110,000 after purchasing an additional 972 shares during the last quarter. Aperio Group LLC raised its position in Neurocrine Biosciences by 6.1% in the second quarter. Aperio Group LLC now owns 28,705 shares of the company’s stock valued at $2,820,000 after purchasing an additional 1,658 shares during the last quarter. TD Asset Management Inc. raised its position in Neurocrine Biosciences by 1.6% in the second quarter. TD Asset Management Inc. now owns 131,499 shares of the company’s stock valued at $12,918,000 after purchasing an additional 2,100 shares during the last quarter. Finally, Commonwealth Equity Services LLC bought a new position in Neurocrine Biosciences in the second quarter valued at about $203,000. 98.88% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Richard F. Pops sold 4,124 shares of the firm’s stock in a transaction that occurred on Monday, November 26th. The stock was sold at an average price of $91.37, for a total transaction of $376,809.88. Following the completion of the sale, the director now owns 29,512 shares of the company’s stock, valued at $2,696,511.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard F. Pops sold 4,123 shares of the firm’s stock in a transaction that occurred on Monday, November 12th. The stock was sold at an average price of $103.30, for a total value of $425,905.90. Following the sale, the director now directly owns 33,636 shares of the company’s stock, valued at approximately $3,474,598.80. The disclosure for this sale can be found here. Insiders have sold 37,747 shares of company stock valued at $4,098,171 in the last ninety days. 4.30% of the stock is currently owned by insiders.
Several research firms have commented on NBIX. Stifel Nicolaus began coverage on Neurocrine Biosciences in a research report on Tuesday, August 7th. They issued a “buy” rating and a $137.00 target price for the company. Cantor Fitzgerald set a $150.00 price objective on Neurocrine Biosciences and gave the stock a “buy” rating in a research report on Monday, November 5th. ValuEngine downgraded Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 15th. Canaccord Genuity began coverage on Neurocrine Biosciences in a research report on Wednesday, November 21st. They set a “buy” rating and a $111.00 price objective for the company. Finally, BidaskClub downgraded Neurocrine Biosciences from a “hold” rating to a “sell” rating in a research report on Friday, November 16th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seventeen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $124.88.
Shares of NBIX opened at $86.72 on Friday. Neurocrine Biosciences, Inc. has a 1 year low of $67.32 and a 1 year high of $126.98. The stock has a market cap of $7.79 billion, a PE ratio of -53.53, a P/E/G ratio of 21.97 and a beta of 0.94.
Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings data on Monday, November 5th. The company reported $0.52 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.04. Neurocrine Biosciences had a return on equity of 2.54% and a net margin of 2.40%. The company had revenue of $151.80 million during the quarter, compared to the consensus estimate of $151.51 million. During the same period last year, the company earned ($0.13) earnings per share. The firm’s revenue was up 149.7% compared to the same quarter last year. On average, research analysts predict that Neurocrine Biosciences, Inc. will post 0.19 EPS for the current fiscal year.
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Neurocrine Biosciences Company Profile
Neurocrine Biosciences, Inc discovers and develops pharmaceuticals for the treatment of neurological and endocrine-related diseases and disorders in the United States. The company's lead products include INGREZZA (valbenazine), a vesicular monoamine transporter 2 inhibitor (VMAT2), which is used for the treatment of movement disorders; elagolix, a gonadotropin-releasing hormone (GnRH) antagonist that is in Phase III clinical trial for use in women's health; and opicapone, a catechol-O-methyltransferase inhibitor, which is in Phase III clinical trial that is used for in adjunct therapy and preparations of levodopa/DOPA decarboxylase inhibitors for adult patients with Parkinson's disease.
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