Nisa Investment Advisors LLC raised its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 2.8% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,130 shares of the company’s stock after purchasing an additional 165 shares during the period. Nisa Investment Advisors LLC’s holdings in Neurocrine Biosciences were worth $518,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of NBIX. Dimensional Fund Advisors LP boosted its stake in Neurocrine Biosciences by 3.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 173,257 shares of the company’s stock valued at $12,369,000 after acquiring an additional 6,149 shares in the last quarter. Norges Bank acquired a new position in Neurocrine Biosciences in the fourth quarter valued at $61,171,000. Geode Capital Management LLC boosted its stake in Neurocrine Biosciences by 4.2% in the fourth quarter. Geode Capital Management LLC now owns 907,292 shares of the company’s stock valued at $64,789,000 after acquiring an additional 36,508 shares in the last quarter. American Century Companies Inc. acquired a new position in Neurocrine Biosciences in the fourth quarter valued at $10,579,000. Finally, Heritage Investors Management Corp acquired a new position in Neurocrine Biosciences in the first quarter valued at $203,000. 95.82% of the stock is owned by hedge funds and other institutional investors.
In other Neurocrine Biosciences news, Director Gary A. Lyons sold 10,000 shares of the stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $92.07, for a total value of $920,700.00. Following the completion of the transaction, the director now directly owns 235,697 shares of the company’s stock, valued at $21,700,622.79. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Haig P. Bozigian sold 34,547 shares of the stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $75.51, for a total transaction of $2,608,643.97. The disclosure for this sale can be found here. Insiders have sold 200,986 shares of company stock valued at $16,521,687 over the last three months. 4.30% of the stock is currently owned by corporate insiders.
Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings results on Monday, July 29th. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.13. The firm had revenue of $183.58 million during the quarter, compared to analysts’ expectations of $161.79 million. Neurocrine Biosciences had a net margin of 2.98% and a return on equity of 0.46%. The firm’s revenue for the quarter was up 89.5% on a year-over-year basis. During the same period in the prior year, the company posted ($0.07) earnings per share. On average, analysts expect that Neurocrine Biosciences, Inc. will post 0.73 earnings per share for the current year.
NBIX has been the subject of several research analyst reports. Piper Jaffray Companies upped their price objective on shares of Neurocrine Biosciences from $103.00 to $111.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Needham & Company LLC reiterated a “hold” rating on shares of Neurocrine Biosciences in a research note on Wednesday, July 31st. ValuEngine upgraded shares of Neurocrine Biosciences from a “hold” rating to a “buy” rating in a research note on Wednesday, July 31st. CIBC began coverage on shares of Neurocrine Biosciences in a research note on Tuesday, July 16th. They set an “outperform” rating and a $100.00 target price for the company. Finally, Oppenheimer began coverage on shares of Neurocrine Biosciences in a research note on Tuesday, July 16th. They set an “outperform” rating and a $100.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $106.58.
Neurocrine Biosciences 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 offers INGREZZA (valbenazine), a vesicular monoamine transporter 2 inhibitor (VMAT2), which is used for the treatment of movement disorders; ORILISSA, a gonadotropin-releasing hormone (GnRH) antagonist for use in women's health.
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