Cibc World Market Inc. acquired a new position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX – Free Report) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 3,258 shares of the company’s stock, valued at approximately $549,000.
Several other hedge funds have also recently bought and sold shares of NBIX. Geneos Wealth Management Inc. grew its position in Neurocrine Biosciences by 143.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock worth $25,000 after purchasing an additional 135 shares during the last quarter. DJE Kapital AG acquired a new stake in shares of Neurocrine Biosciences in the fourth quarter valued at approximately $28,000. Basecamp Wealth Advisors LLC raised its holdings in shares of Neurocrine Biosciences by 582.9% during the first quarter. Basecamp Wealth Advisors LLC now owns 239 shares of the company’s stock valued at $31,000 after buying an additional 204 shares during the last quarter. Cassaday & Co Wealth Management LLC bought a new stake in shares of Neurocrine Biosciences during the first quarter valued at approximately $33,000. Finally, Meeder Asset Management Inc. boosted its position in shares of Neurocrine Biosciences by 651.6% during the fourth quarter. Meeder Asset Management Inc. now owns 233 shares of the company’s stock worth $33,000 after buying an additional 202 shares during the period. 92.59% of the stock is currently owned by institutional investors.
Insider Buying and Selling
In related news, Director Stephen A. Sherwin sold 25,000 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $165.32, for a total transaction of $4,133,000.00. Following the completion of the sale, the director directly owned 15,860 shares of the company’s stock, valued at $2,621,975.20. This represents a 61.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jude Onyia sold 11,000 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $160.25, for a total transaction of $1,762,750.00. Following the sale, the insider owned 25,846 shares of the company’s stock, valued at $4,141,821.50. The trade was a 29.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 114,375 shares of company stock worth $18,994,756. 4.60% of the stock is owned by insiders.
Analyst Upgrades and Downgrades
Get Our Latest Analysis on Neurocrine Biosciences
Neurocrine Biosciences Stock Down 1.2%
Shares of NBIX stock opened at $154.06 on Friday. The stock has a 50-day simple moving average of $166.77 and a 200 day simple moving average of $149.43. The stock has a market capitalization of $15.66 billion, a P/E ratio of 22.59, a P/E/G ratio of 0.73 and a beta of 0.39. Neurocrine Biosciences, Inc. has a fifty-two week low of $122.14 and a fifty-two week high of $186.12.
Neurocrine Biosciences (NASDAQ:NBIX – Get Free Report) last issued its quarterly earnings results on Friday, July 31st. The company reported $2.85 EPS for the quarter, topping the consensus estimate of $1.65 by $1.20. Neurocrine Biosciences had a net margin of 20.91% and a return on equity of 22.43%. The firm had revenue of $959.00 million for the quarter, compared to analysts’ expectations of $891.16 million. During the same period in the previous year, the business earned $1.65 earnings per share. Neurocrine Biosciences’s revenue for the quarter was up 39.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Neurocrine Biosciences, Inc. will post 7.25 earnings per share for the current year.
Neurocrine Biosciences Profile
Neurocrine Biosciences (NASDAQ: NBIX) is a biopharmaceutical company based in San Diego, California, focused on developing treatments for neurological, endocrine and neuropsychiatric disorders. Since its founding in 1992, the company has pursued a research‐driven strategy aimed at addressing unmet medical needs in movement disorders, reproductive health and central nervous system conditions. Neurocrine’s operations encompass drug discovery, clinical development and commercialization activities.
The company’s lead marketed product, Ingrezza™ (valbenazine), is indicated for the treatment of tardive dyskinesia, a movement disorder associated with long-term antipsychotic use.
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