Mackenzie Financial Corp Purchases 30,888 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Mackenzie Financial Corp raised its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 55.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 86,109 shares of the company’s stock after acquiring an additional 30,888 shares during the period. Mackenzie Financial Corp’s holdings in Neurocrine Biosciences were worth $9,524,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Huntington National Bank lifted its stake in shares of Neurocrine Biosciences by 73.5% in the fourth quarter. Huntington National Bank now owns 229 shares of the company’s stock valued at $31,000 after buying an additional 97 shares during the period. GeoWealth Management LLC lifted its stake in shares of Neurocrine Biosciences by 65.4% in the fourth quarter. GeoWealth Management LLC now owns 258 shares of the company’s stock valued at $35,000 after buying an additional 102 shares during the period. Smallwood Wealth Investment Management LLC bought a new stake in shares of Neurocrine Biosciences in the first quarter valued at about $34,000. Golden State Wealth Management LLC lifted its stake in shares of Neurocrine Biosciences by 116.9% in the first quarter. Golden State Wealth Management LLC now owns 397 shares of the company’s stock valued at $44,000 after buying an additional 214 shares during the period. Finally, Versant Capital Management Inc lifted its stake in shares of Neurocrine Biosciences by 404.9% in the first quarter. Versant Capital Management Inc now owns 409 shares of the company’s stock valued at $45,000 after buying an additional 328 shares during the period. 92.59% of the stock is currently owned by institutional investors.

Insider Transactions at Neurocrine Biosciences

In other Neurocrine Biosciences news, insider Jude Onyia sold 59,819 shares of the firm’s stock in a transaction that occurred on Wednesday, July 9th. The shares were sold at an average price of $130.46, for a total value of $7,803,986.74. Following the transaction, the insider directly owned 18,289 shares of the company’s stock, valued at approximately $2,385,982.94. This trade represents a 76.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William H. Rastetter sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $110.20, for a total transaction of $3,306,000.00. Following the completion of the transaction, the director directly owned 37,491 shares in the company, valued at approximately $4,131,508.20. The trade was a 44.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 120,251 shares of company stock worth $14,978,602. 4.80% of the stock is owned by insiders.

Wall Street Analyst Weigh In

NBIX has been the subject of several research reports. Canaccord Genuity Group increased their target price on shares of Neurocrine Biosciences from $158.00 to $160.00 and gave the company a “buy” rating in a research note on Tuesday, May 6th. The Goldman Sachs Group initiated coverage on shares of Neurocrine Biosciences in a research note on Thursday, July 10th. They issued a “buy” rating and a $182.00 target price for the company. JPMorgan Chase & Co. increased their target price on shares of Neurocrine Biosciences from $140.00 to $145.00 and gave the company a “neutral” rating in a research note on Thursday. Needham & Company LLC increased their price target on shares of Neurocrine Biosciences from $138.00 to $139.00 and gave the stock a “buy” rating in a research report on Tuesday, May 6th. Finally, Truist Financial began coverage on shares of Neurocrine Biosciences in a research report on Monday, July 21st. They issued a “buy” rating and a $163.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Neurocrine Biosciences currently has an average rating of “Moderate Buy” and an average target price of $163.58.

Neurocrine Biosciences Stock Performance

NASDAQ NBIX opened at $128.23 on Friday. The stock has a market capitalization of $12.69 billion, a P/E ratio of 37.94, a price-to-earnings-growth ratio of 1.41 and a beta of 0.24. Neurocrine Biosciences, Inc. has a 52 week low of $84.23 and a 52 week high of $157.98. The stock has a fifty day moving average of $128.08 and a 200-day moving average of $121.11.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.08. Neurocrine Biosciences had a return on equity of 13.32% and a net margin of 13.88%. The business had revenue of $687.50 million for the quarter, compared to analyst estimates of $653.09 million. During the same quarter in the prior year, the firm posted $1.63 earnings per share. The firm’s revenue for the quarter was up 16.5% compared to the same quarter last year. Equities research analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

About Neurocrine Biosciences

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.