Blair William & Co. IL raised its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX – Free Report) by 318.5% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 311,750 shares of the company’s stock after buying an additional 237,264 shares during the period. Blair William & Co. IL owned about 0.32% of Neurocrine Biosciences worth $31,555,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Rice Hall James & Associates LLC boosted its holdings in Neurocrine Biosciences by 195.5% in the first quarter. Rice Hall James & Associates LLC now owns 206,755 shares of the company’s stock valued at $19,383,000 after acquiring an additional 136,782 shares during the last quarter. HighTower Advisors LLC lifted its stake in shares of Neurocrine Biosciences by 48.8% during the 1st quarter. HighTower Advisors LLC now owns 5,745 shares of the company’s stock valued at $544,000 after buying an additional 1,883 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Neurocrine Biosciences by 27.7% in the first quarter. PNC Financial Services Group Inc. now owns 3,150 shares of the company’s stock worth $296,000 after purchasing an additional 684 shares during the period. Acadian Asset Management LLC purchased a new stake in Neurocrine Biosciences during the first quarter valued at about $27,000. Finally, Dimensional Fund Advisors LP increased its stake in Neurocrine Biosciences by 39.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 417,604 shares of the company’s stock worth $39,148,000 after purchasing an additional 117,422 shares during the period. 93.54% of the stock is owned by institutional investors.
Insider Transactions at Neurocrine Biosciences
In other news, CEO Kevin Charles Gorman sold 9,328 shares of the stock in a transaction on Monday, August 21st. The shares were sold at an average price of $107.40, for a total transaction of $1,001,827.20. Following the transaction, the chief executive officer now owns 499,754 shares in the company, valued at approximately $53,673,579.60. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Neurocrine Biosciences news, CEO Kevin Charles Gorman sold 9,328 shares of the business’s stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $107.40, for a total value of $1,001,827.20. Following the completion of the transaction, the chief executive officer now directly owns 499,754 shares of the company’s stock, valued at $53,673,579.60. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Ingrid Delaet sold 1,431 shares of the stock in a transaction on Monday, August 28th. The shares were sold at an average price of $107.52, for a total value of $153,861.12. Following the completion of the transaction, the insider now directly owns 5,931 shares in the company, valued at approximately $637,701.12. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,089 shares of company stock valued at $1,728,013. Corporate insiders own 4.60% of the company’s stock.
Neurocrine Biosciences Stock Up 1.0 %
Neurocrine Biosciences (NASDAQ:NBIX – Get Free Report) last issued its quarterly earnings results on Tuesday, August 1st. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.18. Neurocrine Biosciences had a return on equity of 10.39% and a net margin of 10.54%. The company had revenue of $452.70 million during the quarter, compared to the consensus estimate of $448.29 million. On average, equities research analysts expect that Neurocrine Biosciences, Inc. will post 2.17 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Several brokerages have issued reports on NBIX. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $136.00 target price on shares of Neurocrine Biosciences in a report on Tuesday, August 22nd. Citigroup dropped their price target on Neurocrine Biosciences from $127.00 to $122.00 in a research report on Thursday, May 4th. Morgan Stanley restated an “overweight” rating and issued a $130.00 target price on shares of Neurocrine Biosciences in a research note on Wednesday, August 2nd. Canaccord Genuity Group raised their price target on shares of Neurocrine Biosciences from $130.00 to $132.00 and gave the company a “buy” rating in a report on Wednesday, August 2nd. Finally, Royal Bank of Canada raised their target price on Neurocrine Biosciences from $108.00 to $110.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 2nd. Five analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, Neurocrine Biosciences presently has a consensus rating of “Moderate Buy” and an average target price of $126.96.
About Neurocrine Biosciences
Neurocrine Biosciences, Inc discovers, develops, and markets pharmaceuticals for neurological, endocrine, and psychiatric disorders. The company's portfolio includes treatments for tardive dyskinesia, Parkinson's disease, endometriosis, and uterine fibroids, as well as clinical programs in various therapeutic areas.
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