American International Group Inc. bought a new stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 2,069 shares of the company’s stock, valued at approximately $161,000.
Other institutional investors and hedge funds have also modified their holdings of the company. The Manufacturers Life Insurance Company increased its holdings in shares of Neurocrine Biosciences by 7.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,665 shares of the company’s stock valued at $123,000 after purchasing an additional 193 shares during the period. Crow Point Partners LLC acquired a new position in shares of Neurocrine Biosciences in the 4th quarter valued at about $145,000. M&T Bank Corp acquired a new position in shares of Neurocrine Biosciences in the 4th quarter valued at about $202,000. Comerica Bank acquired a new position in shares of Neurocrine Biosciences in the 3rd quarter valued at about $210,000. Finally, CIBC Asset Management Inc acquired a new position in shares of Neurocrine Biosciences in the 4th quarter valued at about $230,000.
In other Neurocrine Biosciences news, insider Darin Lippoldt sold 15,237 shares of the stock in a transaction that occurred on Thursday, December 28th. The stock was sold at an average price of $75.00, for a total transaction of $1,142,775.00. Following the transaction, the insider now owns 28,394 shares in the company, valued at $2,129,550. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director William H. Rastetter sold 9,500 shares of the stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $90.00, for a total value of $855,000.00. Following the transaction, the director now owns 34,250 shares in the company, valued at approximately $3,082,500. The disclosure for this sale can be found here. Insiders sold 399,589 shares of company stock worth $32,443,795 in the last 90 days. 4.80% of the stock is currently owned by corporate insiders.
Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings data on Tuesday, February 13th. The company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.11). The company had revenue of $94.52 million during the quarter, compared to analysts’ expectations of $94.00 million. During the same quarter in the prior year, the company earned ($0.51) EPS. analysts expect that Neurocrine Biosciences, Inc. will post -0.25 EPS for the current fiscal year.
A number of equities analysts have recently weighed in on the company. Needham & Company LLC reiterated a “buy” rating and issued a $110.00 target price (up previously from $95.00) on shares of Neurocrine Biosciences in a report on Thursday, February 22nd. BidaskClub upgraded Neurocrine Biosciences from a “hold” rating to a “buy” rating in a report on Thursday, January 4th. Deutsche Bank upped their target price on Neurocrine Biosciences to $97.00 and gave the company a “buy” rating in a report on Wednesday, February 14th. Oppenheimer set a $110.00 target price on Neurocrine Biosciences and gave the company a “buy” rating in a report on Thursday, February 22nd. Finally, JPMorgan Chase & Co. upped their target price on Neurocrine Biosciences from $79.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, February 14th. One research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $92.38.
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About Neurocrine Biosciences
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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