Burney Co. grew its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX – Free Report) by 101.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 40,202 shares of the company’s stock after purchasing an additional 20,238 shares during the quarter. Burney Co.’s holdings in Neurocrine Biosciences were worth $3,791,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently modified their holdings of NBIX. Acadian Asset Management LLC acquired a new position in Neurocrine Biosciences during the first quarter worth about $27,000. KB Financial Partners LLC acquired a new stake in Neurocrine Biosciences in the 1st quarter valued at about $32,000. Bessemer Group Inc. boosted its position in shares of Neurocrine Biosciences by 755.0% during the 4th quarter. Bessemer Group Inc. now owns 342 shares of the company’s stock valued at $42,000 after purchasing an additional 302 shares in the last quarter. Covestor Ltd grew its stake in shares of Neurocrine Biosciences by 431.0% in the 1st quarter. Covestor Ltd now owns 377 shares of the company’s stock worth $35,000 after purchasing an additional 306 shares during the last quarter. Finally, Spire Wealth Management raised its holdings in shares of Neurocrine Biosciences by 203.2% in the 1st quarter. Spire Wealth Management now owns 379 shares of the company’s stock worth $38,000 after purchasing an additional 254 shares in the last quarter. Institutional investors own 93.54% of the company’s stock.
Wall Street Analyst Weigh In
A number of analysts recently weighed in on NBIX shares. HC Wainwright raised their target price on shares of Neurocrine Biosciences from $146.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, October 6th. Piper Sandler lifted their target price on Neurocrine Biosciences from $95.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, November 1st. JPMorgan Chase & Co. upped their target price on Neurocrine Biosciences from $133.00 to $134.00 and gave the company an “overweight” rating in a report on Wednesday, September 13th. Canaccord Genuity Group lifted their price target on Neurocrine Biosciences from $132.00 to $144.00 and gave the stock a “buy” rating in a research note on Wednesday, September 13th. Finally, Mizuho reduced their price objective on shares of Neurocrine Biosciences from $116.00 to $114.00 and set a “neutral” rating for the company in a research note on Friday, November 10th. Five research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $131.46.
Neurocrine Biosciences Price Performance
Shares of NASDAQ NBIX opened at $112.38 on Wednesday. The company has a market capitalization of $11.04 billion, a P/E ratio of 60.42, a price-to-earnings-growth ratio of 1.04 and a beta of 0.40. Neurocrine Biosciences, Inc. has a one year low of $89.04 and a one year high of $129.29. The business’s 50-day moving average price is $112.13 and its two-hundred day moving average price is $103.52.
Neurocrine Biosciences (NASDAQ:NBIX – Get Free Report) last issued its quarterly earnings data on Tuesday, October 31st. The company reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.09). The business had revenue of $498.80 million during the quarter, compared to the consensus estimate of $479.09 million. Neurocrine Biosciences had a return on equity of 10.54% and a net margin of 10.71%. The company’s revenue for the quarter was up 28.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.69 earnings per share. On average, equities analysts anticipate that Neurocrine Biosciences, Inc. will post 2.14 EPS for the current year.
Insider Transactions at Neurocrine Biosciences
In related news, CFO Matt Abernethy sold 2,132 shares of the firm’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $107.39, for a total value of $228,955.48. Following the transaction, the chief financial officer now directly owns 27,131 shares of the company’s stock, valued at approximately $2,913,598.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Neurocrine Biosciences news, insider David W. Boyer sold 2,733 shares of the company’s stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $107.60, for a total transaction of $294,070.80. Following the completion of the sale, the insider now directly owns 3,460 shares in the company, valued at $372,296. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Matt Abernethy sold 2,132 shares of Neurocrine Biosciences stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $107.39, for a total value of $228,955.48. Following the completion of the transaction, the chief financial officer now owns 27,131 shares in the company, valued at $2,913,598.09. The disclosure for this sale can be found here. In the last quarter, insiders sold 31,083 shares of company stock worth $3,400,811. 4.60% of the stock is owned by corporate insiders.
Neurocrine Biosciences Company Profile
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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