Russell Investments Group Ltd. Grows Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Russell Investments Group Ltd. boosted its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 16.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 400,364 shares of the company’s stock after purchasing an additional 57,582 shares during the period. Russell Investments Group Ltd. owned about 0.41% of Neurocrine Biosciences worth $37,755,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Rice Hall James & Associates LLC increased its holdings in shares of Neurocrine Biosciences by 195.5% in the first quarter. Rice Hall James & Associates LLC now owns 206,755 shares of the company’s stock worth $19,383,000 after purchasing an additional 136,782 shares during the last quarter. HighTower Advisors LLC increased its holdings in shares of Neurocrine Biosciences by 48.8% in the first quarter. HighTower Advisors LLC now owns 5,745 shares of the company’s stock worth $544,000 after purchasing an additional 1,883 shares during 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 last quarter. Acadian Asset Management LLC bought a new stake in shares of Neurocrine Biosciences in the first quarter worth about $27,000. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Neurocrine Biosciences by 39.1% in the first 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 last quarter. 93.54% of the stock is owned by institutional investors.

Neurocrine Biosciences Stock Up 0.2 %

Shares of NASDAQ:NBIX opened at $108.94 on Friday. The company has a market capitalization of $10.70 billion, a price-to-earnings ratio of 58.57, a price-to-earnings-growth ratio of 1.02 and a beta of 0.40. Neurocrine Biosciences, Inc. has a 52 week low of $89.04 and a 52 week high of $129.29. The firm has a 50 day moving average of $112.14 and a 200 day moving average of $103.65.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings data on Tuesday, October 31st. The company reported $0.82 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 business’s quarterly revenue was up 28.6% on a year-over-year basis. During the same period last year, the firm earned $0.69 EPS. On average, sell-side analysts expect that Neurocrine Biosciences, Inc. will post 2.14 EPS for the current year.

Insider Transactions at Neurocrine Biosciences

In other news, CEO Kevin Charles Gorman sold 9,328 shares of the company’s stock in a transaction on Monday, August 21st. The stock was 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 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 accessible through the SEC website. In other news, CEO Kevin Charles Gorman sold 9,328 shares of the company’s stock in a transaction on Monday, August 21st. The stock was 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 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 accessible through the SEC website. Also, CFO Matt Abernethy sold 2,132 shares of the company’s stock in a transaction on Monday, August 21st. The shares were 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 directly owns 27,131 shares in the company, valued at $2,913,598.09. The disclosure for this sale can be found here. Over the last three months, insiders have sold 31,083 shares of company stock valued at $3,400,811. Corporate insiders own 4.40% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Wedbush boosted their price objective on Neurocrine Biosciences from $120.00 to $137.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 13th. Mizuho reduced their price objective on Neurocrine Biosciences from $116.00 to $114.00 and set a “neutral” rating on the stock in a research note on Friday, November 10th. HC Wainwright boosted their price objective on Neurocrine Biosciences from $146.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, October 6th. Raymond James boosted their price objective on Neurocrine Biosciences from $135.00 to $145.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 1st. Finally, Barclays boosted their price objective on Neurocrine Biosciences from $125.00 to $134.00 in a research note on Thursday, September 21st. Five 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, the company presently has an average rating of “Moderate Buy” and an average target price of $131.46.

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.