Jennison Associates LLC Increases Stock Holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Jennison Associates LLC raised its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 10.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 451,462 shares of the company’s stock after purchasing an additional 41,987 shares during the quarter. Jennison Associates LLC’s holdings in Neurocrine Biosciences were worth $59,485,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Sunbelt Securities Inc. grew its stake in shares of Neurocrine Biosciences by 34.3% in the 3rd quarter. Sunbelt Securities Inc. now owns 325 shares of the company’s stock valued at $37,000 after purchasing an additional 83 shares during the last quarter. Lindbrook Capital LLC grew its stake in shares of Neurocrine Biosciences by 85.0% in the 4th quarter. Lindbrook Capital LLC now owns 209 shares of the company’s stock valued at $28,000 after purchasing an additional 96 shares during the last quarter. Red Spruce Capital LLC grew its stake in shares of Neurocrine Biosciences by 0.6% in the 4th quarter. Red Spruce Capital LLC now owns 16,026 shares of the company’s stock valued at $2,112,000 after purchasing an additional 101 shares during the last quarter. Metis Global Partners LLC grew its stake in shares of Neurocrine Biosciences by 4.7% in the 3rd quarter. Metis Global Partners LLC now owns 2,361 shares of the company’s stock valued at $266,000 after purchasing an additional 106 shares during the last quarter. Finally, Signaturefd LLC grew its stake in shares of Neurocrine Biosciences by 5.2% in the 4th quarter. Signaturefd LLC now owns 2,511 shares of the company’s stock valued at $331,000 after purchasing an additional 125 shares during the last quarter. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Neurocrine Biosciences Trading Up 4.8 %

NBIX stock opened at $140.09 on Wednesday. The stock has a 50-day moving average price of $136.34 and a two-hundred day moving average price of $127.54. Neurocrine Biosciences, Inc. has a 12-month low of $89.04 and a 12-month high of $148.37. The company has a market cap of $13.94 billion, a PE ratio of 57.89 and a beta of 0.25.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings results on Wednesday, February 7th. The company reported $1.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.31. Neurocrine Biosciences had a return on equity of 12.85% and a net margin of 13.23%. The firm had revenue of $515.20 million during the quarter, compared to the consensus estimate of $518.52 million. During the same quarter in the previous year, the business earned $0.88 earnings per share. The firm’s quarterly revenue was up 25.0% compared to the same quarter last year. Equities analysts forecast that Neurocrine Biosciences, Inc. will post 4.84 EPS for the current fiscal year.

Insiders Place Their Bets

In other Neurocrine Biosciences news, CEO Kevin Charles Gorman sold 2,707 shares of the business’s stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $140.69, for a total transaction of $380,847.83. Following the transaction, the chief executive officer now owns 502,188 shares in the company, valued at $70,652,829.72. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO Kevin Charles Gorman sold 2,707 shares of the business’s stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $140.69, for a total value of $380,847.83. Following the transaction, the chief executive officer now owns 502,188 shares in the company, valued at $70,652,829.72. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Eric Benevich sold 19,818 shares of the business’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $133.36, for a total value of $2,642,928.48. Following the completion of the transaction, the insider now owns 40,778 shares in the company, valued at approximately $5,438,154.08. The disclosure for this sale can be found here. Insiders have sold a total of 186,994 shares of company stock worth $25,806,409 over the last quarter. 4.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on NBIX. Needham & Company LLC reissued a “hold” rating on shares of Neurocrine Biosciences in a report on Tuesday. JPMorgan Chase & Co. lifted their price objective on Neurocrine Biosciences from $148.00 to $158.00 and gave the stock an “overweight” rating in a report on Wednesday, March 20th. Mizuho lifted their price objective on Neurocrine Biosciences from $116.00 to $140.00 and gave the stock a “neutral” rating in a report on Thursday, February 8th. StockNews.com raised Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a report on Thursday, February 8th. Finally, Wedbush reaffirmed an “outperform” rating and set a $147.00 price objective on shares of Neurocrine Biosciences in a report on Wednesday, April 17th. Six analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $140.92.

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.