BNP Paribas Arbitrage SNC reduced its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX – Free Report) by 8.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 220,481 shares of the company’s stock after selling 21,201 shares during the quarter. BNP Paribas Arbitrage SNC owned approximately 0.23% of Neurocrine Biosciences worth $20,791,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Acadian Asset Management LLC purchased a new stake in Neurocrine Biosciences in the 1st quarter valued at $27,000. KB Financial Partners LLC purchased a new stake in Neurocrine Biosciences in the 1st quarter valued at $32,000. Covestor Ltd raised its position in Neurocrine Biosciences by 431.0% in the 1st quarter. Covestor Ltd now owns 377 shares of the company’s stock valued at $35,000 after buying an additional 306 shares during the last quarter. Spire Wealth Management raised its position in Neurocrine Biosciences by 203.2% in the 1st quarter. Spire Wealth Management now owns 379 shares of the company’s stock valued at $38,000 after buying an additional 254 shares during the last quarter. Finally, Bessemer Group Inc. increased 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 during the last quarter. 93.54% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several brokerages have recently issued reports on NBIX. Raymond James raised their target price on Neurocrine Biosciences from $135.00 to $145.00 and gave the company an “outperform” rating in a research report on Wednesday, November 1st. HC Wainwright raised their target price on Neurocrine Biosciences from $146.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, October 6th. Barclays raised their target price on Neurocrine Biosciences from $125.00 to $134.00 in a research report on Thursday, September 21st. SVB Leerink raised their target price on Neurocrine Biosciences from $125.00 to $135.00 in a research report on Friday, October 6th. Finally, Bank of America raised their target price on Neurocrine Biosciences from $137.00 to $143.00 in a research report on Sunday, October 8th. Five equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, Neurocrine Biosciences currently has a consensus rating of “Moderate Buy” and a consensus price target of $131.46.
Neurocrine Biosciences Stock Down 1.8 %
Shares of NASDAQ NBIX opened at $108.77 on Friday. Neurocrine Biosciences, Inc. has a 52 week low of $89.04 and a 52 week high of $129.29. The business has a 50-day simple moving average of $112.14 and a two-hundred day simple moving average of $103.61. The company has a market cap of $10.69 billion, a P/E ratio of 58.48, a P/E/G ratio of 1.04 and a beta of 0.40.
Neurocrine Biosciences (NASDAQ:NBIX – Get Free Report) last issued its earnings results on Tuesday, October 31st. The company reported $0.82 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.09). Neurocrine Biosciences had a return on equity of 10.54% and a net margin of 10.71%. The company had revenue of $498.80 million during the quarter, compared to the consensus estimate of $479.09 million. During the same quarter in the prior year, the business earned $0.69 EPS. The firm’s revenue for the quarter was up 28.6% compared to the same quarter last year. Equities research analysts anticipate that Neurocrine Biosciences, Inc. will post 2.14 EPS for the current year.
Insider Buying and Selling at Neurocrine Biosciences
In other Neurocrine Biosciences news, CFO Matt Abernethy sold 2,132 shares of the firm’s 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 sale, the chief financial officer now owns 27,131 shares of the company’s stock, valued at approximately $2,913,598.09. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider Julie Cooke sold 824 shares of the firm’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $110.93, for a total transaction of $91,406.32. Following the transaction, the insider now directly owns 17,263 shares of the company’s stock, valued at approximately $1,914,984.59. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Matt Abernethy sold 2,132 shares of the firm’s stock in a transaction dated Monday, August 21st. The shares were 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 in the company, valued at $2,913,598.09. The disclosure for this sale can be found here. Insiders have sold a total of 31,083 shares of company stock valued at $3,400,811 in the last 90 days. Corporate insiders own 4.40% of the company’s stock.
Neurocrine Biosciences 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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