Balyasny Asset Management LLC bought a new position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 2,856 shares of the company’s stock, valued at approximately $348,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. APG Asset Management N.V. increased its position in shares of Neurocrine Biosciences by 39.4% during the second quarter. APG Asset Management N.V. now owns 141,579 shares of the company’s stock valued at $15,379,000 after acquiring an additional 40,000 shares during the last quarter. First Republic Investment Management Inc. grew its stake in Neurocrine Biosciences by 6.6% in the 2nd quarter. First Republic Investment Management Inc. now owns 7,387 shares of the company’s stock valued at $901,000 after purchasing an additional 456 shares during the period. TD Asset Management Inc. increased its position in shares of Neurocrine Biosciences by 13.1% during the 2nd quarter. TD Asset Management Inc. now owns 166,698 shares of the company’s stock valued at $20,337,000 after purchasing an additional 19,341 shares during the last quarter. Federated Hermes Inc. boosted its holdings in shares of Neurocrine Biosciences by 84.6% in the 2nd quarter. Federated Hermes Inc. now owns 48,932 shares of the company’s stock worth $5,970,000 after buying an additional 22,432 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ grew its position in Neurocrine Biosciences by 15.2% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 45,400 shares of the company’s stock valued at $5,539,000 after buying an additional 6,000 shares during the period. Hedge funds and other institutional investors own 96.85% of the company’s stock.
In other news, insider Eiry Roberts sold 2,257 shares of the firm’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $118.84, for a total transaction of $268,221.88. Following the sale, the insider now owns 11,446 shares in the company, valued at approximately $1,360,242.64. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Darin Lippoldt sold 1,657 shares of the company’s stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $136.02, for a total transaction of $225,385.14. Following the completion of the transaction, the insider now owns 27,678 shares of the company’s stock, valued at $3,764,761.56. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,304 shares of company stock worth $1,546,712. 4.30% of the stock is owned by company insiders.
Neurocrine Biosciences stock opened at $104.30 on Wednesday. Neurocrine Biosciences, Inc. has a fifty-two week low of $72.14 and a fifty-two week high of $136.26. The stock has a market cap of $9.73 billion, a P/E ratio of 49.43 and a beta of 1.22. The firm’s fifty day moving average price is $113.79 and its 200-day moving average price is $110.02.
Neurocrine Biosciences (NASDAQ:NBIX) last posted its earnings results on Monday, August 3rd. The company reported $0.81 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.16. Neurocrine Biosciences had a return on equity of 39.22% and a net margin of 20.36%. The business had revenue of $302.40 million during the quarter, compared to analysts’ expectations of $261.66 million. During the same period in the previous year, the business earned $0.71 earnings per share. The firm’s revenue was up 64.8% on a year-over-year basis. As a group, equities research analysts forecast that Neurocrine Biosciences, Inc. will post 2.26 EPS for the current year.
A number of research analysts have weighed in on the stock. Morgan Stanley dropped their target price on shares of Neurocrine Biosciences from $149.00 to $146.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 4th. Citigroup raised their target price on Neurocrine Biosciences from $124.00 to $149.00 and gave the stock a “buy” rating in a research report on Friday, June 26th. Oppenheimer raised their target price on Neurocrine Biosciences from $142.00 to $152.00 and gave the stock an “outperform” rating in a research report on Friday, July 17th. Goldman Sachs Group lowered Neurocrine Biosciences from a “buy” rating to a “neutral” rating and set a $135.00 price objective for the company. in a report on Monday, June 29th. Finally, Credit Suisse Group lowered their price objective on Neurocrine Biosciences from $135.00 to $126.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 4th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company. Neurocrine Biosciences currently has a consensus rating of “Buy” and an average target price of $137.79.
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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