Neurocrine Biosciences, Inc. $NBIX Stock: Ninety One UK Ltd Increases Stake

Ninety One UK Ltd boosted its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 160,372.7% during the 3rd quarter, Holdings Channel reports. The firm owned 434,881 shares of the company’s stock after buying an additional 434,610 shares during the quarter. Ninety One UK Ltd’s holdings in Neurocrine Biosciences were worth $61,684,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in NBIX. BlackRock Inc. purchased a new stake in shares of Neurocrine Biosciences in the second quarter worth about $2,310,886,000. Renaissance Technologies LLC grew its holdings in Neurocrine Biosciences by 8.0% during the 1st quarter. Renaissance Technologies LLC now owns 2,418,897 shares of the company’s stock valued at $318,665,000 after buying an additional 180,100 shares in the last quarter. First Trust Advisors LP grew its holdings in Neurocrine Biosciences by 97.0% during the 1st quarter. First Trust Advisors LP now owns 959,217 shares of the company’s stock valued at $126,367,000 after buying an additional 472,408 shares in the last quarter. Armistice Capital LLC grew its holdings in Neurocrine Biosciences by 17.7% during the 4th quarter. Armistice Capital LLC now owns 820,240 shares of the company’s stock valued at $116,335,000 after buying an additional 123,218 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in Neurocrine Biosciences in the 2nd quarter worth approximately $117,827,000. Institutional investors own 92.59% of the company’s stock.

Insider Buying and Selling

In other Neurocrine Biosciences news, insider David W. Boyer sold 826 shares of the company’s stock in a transaction on Monday, September 14th. The stock was sold at an average price of $157.45, for a total value of $130,053.70. Following the transaction, the insider owned 8,722 shares of the company’s stock, valued at $1,373,278.90. This represents a 8.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Matt Abernethy sold 2,311 shares of the stock in a transaction on Monday, September 14th. The stock was sold at an average price of $157.20, for a total value of $363,289.20. Following the completion of the sale, the chief financial officer owned 42,808 shares in the company, valued at approximately $6,729,417.60. The trade was a 5.12% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 4,387 shares of company stock valued at $720,855. Insiders own 4.60% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. UBS Group decreased their price objective on Neurocrine Biosciences from $231.00 to $214.00 and set a “buy” rating on the stock in a report on Tuesday, September 29th. Stifel Nicolaus boosted their price target on shares of Neurocrine Biosciences from $188.00 to $215.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Mizuho raised shares of Neurocrine Biosciences to a “hold” rating in a research note on Wednesday, September 16th. Guggenheim assumed coverage on shares of Neurocrine Biosciences in a research report on Tuesday, October 6th. They set a “buy” rating and a $207.00 price objective for the company. Finally, Citigroup increased their price objective on shares of Neurocrine Biosciences from $249.00 to $253.00 and gave the company a “buy” rating in a research report on Thursday, September 3rd. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Neurocrine Biosciences has an average rating of “Moderate Buy” and a consensus price target of $201.14.

Neurocrine Biosciences Stock Performance

NASDAQ NBIX traded up $1.23 during trading on Thursday, hitting $137.14. The stock had a trading volume of 517,365 shares, compared to its average volume of 1,218,830. The stock has a market capitalization of $13.94 billion, a price-to-earnings ratio of 20.11, a P/E/G ratio of 0.63 and a beta of 0.40. Neurocrine Biosciences, Inc. has a one year low of $122.14 and a one year high of $186.12. The stock has a 50 day simple moving average of $150.12 and a 200 day simple moving average of $153.51.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its earnings results on Friday, July 31st. The company reported $2.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.65 by $1.20. The business had revenue of $959.00 million during the quarter, compared to analyst estimates of $891.16 million. Neurocrine Biosciences had a return on equity of 22.43% and a net margin of 20.91%. The company’s revenue for the quarter was up 39.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.65 earnings per share. On average, sell-side analysts predict that Neurocrine Biosciences, Inc. will post 7.26 EPS for the current year.

About Neurocrine Biosciences

Neurocrine Biosciences, Inc is a biopharmaceutical company focused on discovering, developing and commercializing medicines for neurological, neuroendocrine and related disorders. The company is headquartered in San Diego, California, and conducts research through internal programs and collaborations with academic institutions and other pharmaceutical companies.

Neurocrine’s principal commercial product is INGREZZA (valbenazine), a vesicular monoamine transporter 2 inhibitor used to treat tardive dyskinesia and chorea associated with Huntington’s disease.