Mackenzie Financial Corp Sells 10,392 Shares of Neurocrine Biosciences, Inc. $NBIX

Mackenzie Financial Corp trimmed its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 12.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,717 shares of the company’s stock after selling 10,392 shares during the quarter. Mackenzie Financial Corp’s holdings in Neurocrine Biosciences were worth $9,517,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. IFP Advisors Inc boosted its position in Neurocrine Biosciences by 4.2% in the second quarter. IFP Advisors Inc now owns 2,172 shares of the company’s stock valued at $273,000 after buying an additional 88 shares in the last quarter. Linden Thomas Advisory Services LLC lifted its stake in shares of Neurocrine Biosciences by 1.5% in the 2nd quarter. Linden Thomas Advisory Services LLC now owns 6,699 shares of the company’s stock valued at $842,000 after acquiring an additional 96 shares during the last quarter. Central Pacific Bank Trust Division lifted its stake in shares of Neurocrine Biosciences by 6.2% in the 2nd quarter. Central Pacific Bank Trust Division now owns 1,725 shares of the company’s stock valued at $217,000 after acquiring an additional 100 shares during the last quarter. AdvisorShares Investments LLC boosted its holdings in shares of Neurocrine Biosciences by 2.8% during the 2nd quarter. AdvisorShares Investments LLC now owns 3,666 shares of the company’s stock valued at $461,000 after acquiring an additional 100 shares in the last quarter. Finally, Nissay Asset Management Corp Japan ADV grew its position in Neurocrine Biosciences by 0.9% during the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 12,293 shares of the company’s stock worth $1,360,000 after acquiring an additional 107 shares during the last quarter. Institutional investors own 92.59% of the company’s stock.

Wall Street Analysts Forecast Growth

NBIX has been the subject of a number of recent research reports. UBS Group upped their target price on Neurocrine Biosciences from $188.00 to $195.00 and gave the stock a “buy” rating in a report on Thursday, October 9th. Piper Sandler boosted their price target on Neurocrine Biosciences from $175.00 to $179.00 and gave the stock an “overweight” rating in a report on Wednesday, October 29th. Zacks Research upgraded shares of Neurocrine Biosciences from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 15th. JPMorgan Chase & Co. lifted their target price on shares of Neurocrine Biosciences from $171.00 to $179.00 and gave the stock an “overweight” rating in a research report on Monday, November 3rd. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Neurocrine Biosciences in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $170.53.

Neurocrine Biosciences Price Performance

Neurocrine Biosciences stock opened at $152.48 on Wednesday. The stock’s 50 day moving average is $143.08 and its 200 day moving average is $135.48. The firm has a market cap of $15.20 billion, a P/E ratio of 36.48, a P/E/G ratio of 0.94 and a beta of 0.27. Neurocrine Biosciences, Inc. has a one year low of $84.23 and a one year high of $157.67.

Neurocrine Biosciences (NASDAQ:NBIX) last released its earnings results on Tuesday, October 28th. The company reported $2.17 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.59. Neurocrine Biosciences had a net margin of 15.95% and a return on equity of 15.82%. The business had revenue of $794.90 million during the quarter, compared to the consensus estimate of $746.61 million. During the same quarter in the prior year, the firm posted $1.81 EPS. The company’s revenue for the quarter was up 27.8% compared to the same quarter last year. Equities analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

Insider Transactions at Neurocrine Biosciences

In other news, Director William H. Rastetter sold 18,000 shares of the business’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $151.82, for a total value of $2,732,760.00. Following the transaction, the director directly owned 40,360 shares of the company’s stock, valued at $6,127,455.20. The trade was a 30.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director George J. Morrow sold 15,000 shares of the company’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $143.37, for a total value of $2,150,550.00. Following the sale, the director owned 7,068 shares in the company, valued at approximately $1,013,339.16. The trade was a 67.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 33,300 shares of company stock worth $4,925,901 over the last three months. 4.30% of the stock is owned by company insiders.

Neurocrine Biosciences Company 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.