Arrowstreet Capital Limited Partnership Acquires 58,562 Shares of Neurocrine Biosciences, Inc. $NBIX

Arrowstreet Capital Limited Partnership lifted its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 87.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 125,162 shares of the company’s stock after acquiring an additional 58,562 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Neurocrine Biosciences were worth $15,732,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Cetera Investment Advisers boosted its stake in shares of Neurocrine Biosciences by 45.1% during the first quarter. Cetera Investment Advisers now owns 11,857 shares of the company’s stock valued at $1,311,000 after purchasing an additional 3,688 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Neurocrine Biosciences by 1.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 775,773 shares of the company’s stock worth $85,800,000 after buying an additional 13,216 shares during the period. Nuveen LLC bought a new stake in Neurocrine Biosciences during the 1st quarter valued at about $31,686,000. Motley Fool Asset Management LLC boosted its position in Neurocrine Biosciences by 9.3% in the 1st quarter. Motley Fool Asset Management LLC now owns 2,458 shares of the company’s stock valued at $272,000 after buying an additional 209 shares during the period. Finally, AIA Group Ltd grew its stake in Neurocrine Biosciences by 13.5% in the 1st quarter. AIA Group Ltd now owns 1,931 shares of the company’s stock worth $214,000 after acquiring an additional 230 shares in the last quarter. 92.59% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on NBIX shares. JPMorgan Chase & Co. upped their target price on Neurocrine Biosciences from $171.00 to $179.00 and gave the stock an “overweight” rating in a report on Monday, November 3rd. Morgan Stanley lowered their price objective on shares of Neurocrine Biosciences from $178.00 to $173.00 and set an “overweight” rating for the company in a research note on Tuesday, November 11th. Wedbush reiterated an “outperform” rating on shares of Neurocrine Biosciences in a report on Monday, September 22nd. Citigroup boosted their price target on shares of Neurocrine Biosciences from $175.00 to $203.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Neurocrine Biosciences in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $173.00.

Neurocrine Biosciences Stock Down 0.3%

Shares of NASDAQ NBIX opened at $154.99 on Tuesday. Neurocrine Biosciences, Inc. has a 52-week low of $84.23 and a 52-week high of $160.18. The company’s 50-day simple moving average is $144.01 and its 200-day simple moving average is $136.41. The firm has a market cap of $15.45 billion, a price-to-earnings ratio of 37.08, a price-to-earnings-growth ratio of 1.02 and a beta of 0.27.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its earnings results on Tuesday, October 28th. The company reported $2.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.59. Neurocrine Biosciences had a return on equity of 15.82% and a net margin of 15.95%.The company had revenue of $794.90 million during the quarter, compared to analysts’ expectations of $746.61 million. During the same period in the prior year, the business earned $1.81 EPS. The firm’s quarterly revenue was up 27.8% on a year-over-year basis. Equities research analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

Insider Activity

In other news, Director George J. Morrow sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $143.37, for a total value of $2,150,550.00. Following the completion of the transaction, the director owned 7,068 shares of the company’s stock, valued at approximately $1,013,339.16. This trade represents a 67.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Kyle Gano sold 300 shares of the firm’s stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $141.97, for a total transaction of $42,591.00. Following the completion of the transaction, the chief executive officer directly owned 140,407 shares of the company’s stock, valued at $19,933,581.79. This represents a 0.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 33,300 shares of company stock valued at $4,925,901. Company insiders own 4.30% of the company’s stock.

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.