Commonwealth Equity Services LLC cut its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 1.6% in the third quarter, Holdings Channel reports. The institutional investor owned 14,234 shares of the company’s stock after selling 232 shares during the period. Commonwealth Equity Services LLC’s holdings in Neurocrine Biosciences were worth $1,282,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of NBIX. Nuveen Asset Management LLC bought a new stake in Neurocrine Biosciences in the second quarter worth $64,739,000. Point72 Asset Management L.P. lifted its position in Neurocrine Biosciences by 189.4% in the second quarter. Point72 Asset Management L.P. now owns 1,124,684 shares of the company’s stock worth $94,957,000 after buying an additional 735,992 shares during the last quarter. Janus Henderson Group PLC lifted its position in Neurocrine Biosciences by 6.1% in the second quarter. Janus Henderson Group PLC now owns 9,352,240 shares of the company’s stock worth $789,610,000 after buying an additional 540,279 shares during the last quarter. Perceptive Advisors LLC lifted its position in Neurocrine Biosciences by 7.1% in the second quarter. Perceptive Advisors LLC now owns 4,023,862 shares of the company’s stock worth $339,734,000 after buying an additional 265,200 shares during the last quarter. Finally, First Trust Advisors LP lifted its position in Neurocrine Biosciences by 18.0% in the second quarter. First Trust Advisors LP now owns 1,277,700 shares of the company’s stock worth $107,876,000 after buying an additional 194,643 shares during the last quarter. Institutional investors own 95.08% of the company’s stock.
A number of brokerages recently issued reports on NBIX. Piper Jaffray Companies raised their price target on Neurocrine Biosciences from $111.00 to $116.00 in a research report on Tuesday, November 5th. ValuEngine upgraded Neurocrine Biosciences from a “hold” rating to a “buy” rating in a research report on Wednesday, July 31st. Canaccord Genuity increased their target price on Neurocrine Biosciences from $120.00 to $122.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Credit Suisse Group increased their target price on Neurocrine Biosciences from $95.00 to $110.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 30th. Finally, Zacks Investment Research upgraded Neurocrine Biosciences from a “hold” rating to a “buy” rating and set a $115.00 target price on the stock in a research note on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Neurocrine Biosciences has an average rating of “Buy” and a consensus price target of $106.94.
Neurocrine Biosciences (NASDAQ:NBIX) last released its earnings results on Monday, November 4th. The company reported $0.56 earnings per share for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.07). Neurocrine Biosciences had a return on equity of 5.67% and a net margin of 3.12%. The business had revenue of $222.09 million during the quarter, compared to analysts’ expectations of $211.31 million. During the same quarter in the previous year, the business earned $0.52 EPS. The business’s revenue for the quarter was up 46.3% on a year-over-year basis. Research analysts expect that Neurocrine Biosciences, Inc. will post 0.82 EPS for the current year.
In other news, insider Julie Cooke sold 987 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $88.56, for a total transaction of $87,408.72. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Darin Lippoldt sold 1,664 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $100.09, for a total value of $166,549.76. Following the transaction, the insider now owns 21,625 shares in the company, valued at approximately $2,164,446.25. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 52,795 shares of company stock worth $5,332,088. Insiders own 4.30% of the company’s stock.
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 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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