Commerce Bank purchased a new stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX – Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 13,249 shares of the company’s stock, valued at approximately $2,233,000.
Several other institutional investors and hedge funds also recently made changes to their positions in NBIX. BlackRock Inc. bought a new stake in shares of Neurocrine Biosciences during the second quarter valued at approximately $2,310,886,000. AQR Capital Management LLC lifted its position in Neurocrine Biosciences by 18.0% in the fourth quarter. AQR Capital Management LLC now owns 3,271,706 shares of the company’s stock worth $462,652,000 after purchasing an additional 498,058 shares during the period. Renaissance Technologies LLC lifted its position in Neurocrine Biosciences by 8.0% in the first quarter. Renaissance Technologies LLC now owns 2,418,897 shares of the company’s stock worth $318,665,000 after purchasing an additional 180,100 shares during the period. Geode Capital Management LLC boosted its stake in Neurocrine Biosciences by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 2,059,282 shares of the company’s stock worth $291,342,000 after buying an additional 34,457 shares in the last quarter. Finally, Los Angeles Capital Management LLC boosted its stake in Neurocrine Biosciences by 7.4% during the fourth quarter. Los Angeles Capital Management LLC now owns 1,291,278 shares of the company’s stock worth $178,248,000 after buying an additional 88,522 shares in the last quarter. Institutional investors own 92.59% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research analysts have commented on the stock. Citigroup raised their price target on shares of Neurocrine Biosciences from $246.00 to $249.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Wall Street Zen cut Neurocrine Biosciences from a “buy” rating to a “hold” rating in a report on Sunday, August 9th. Stifel Nicolaus upped their price target on Neurocrine Biosciences from $188.00 to $215.00 and gave the company a “buy” rating in a research report on Friday, July 31st. JPMorgan Chase & Co. lifted their price objective on Neurocrine Biosciences from $177.00 to $185.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Finally, Guggenheim boosted their target price on shares of Neurocrine Biosciences from $200.00 to $222.00 and gave the company a “buy” rating in a research note on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $200.86.
Neurocrine Biosciences Price Performance
Shares of NBIX opened at $153.04 on Tuesday. The company has a market capitalization of $15.56 billion, a P/E ratio of 22.44, a PEG ratio of 0.71 and a beta of 0.39. Neurocrine Biosciences, Inc. has a one year low of $122.14 and a one year high of $186.12. The business’s 50 day simple moving average is $167.02 and its 200-day simple moving average is $149.06.
Neurocrine Biosciences (NASDAQ:NBIX – Get Free Report) last issued its quarterly earnings data on Friday, July 31st. The company reported $2.85 EPS for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $891.16 million. During the same quarter in the prior year, the firm earned $1.65 EPS. The company’s revenue was up 39.5% on a year-over-year basis. On average, sell-side analysts anticipate that Neurocrine Biosciences, Inc. will post 7.25 EPS for the current fiscal year.
Insider Activity
In other news, insider Darin Lippoldt sold 10,000 shares of the business’s stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $179.60, for a total transaction of $1,796,000.00. Following the completion of the sale, the insider owned 54,729 shares in the company, valued at $9,829,328.40. The trade was a 15.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jude Onyia sold 11,000 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $160.25, for a total value of $1,762,750.00. Following the transaction, the insider directly owned 25,846 shares in the company, valued at $4,141,821.50. This trade represents a 29.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 127,636 shares of company stock worth $21,059,908. 4.60% of the stock is owned by company insiders.
About Neurocrine Biosciences
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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