Point72 Asset Management L.P. lessened its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 52.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 276,322 shares of the company’s stock after selling 310,678 shares during the quarter. Point72 Asset Management L.P. owned approximately 0.31% of Neurocrine Biosciences worth $16,933,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the stock. Teacher Retirement System of Texas raised its holdings in shares of Neurocrine Biosciences by 0.8% in the 2nd quarter. Teacher Retirement System of Texas now owns 6,966 shares of the company’s stock worth $320,000 after purchasing an additional 57 shares during the period. The Manufacturers Life Insurance Company raised its holdings in shares of Neurocrine Biosciences by 7.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,665 shares of the company’s stock worth $123,000 after purchasing an additional 193 shares during the period. Utah Retirement Systems raised its holdings in shares of Neurocrine Biosciences by 1.9% in the 2nd quarter. Utah Retirement Systems now owns 16,000 shares of the company’s stock worth $736,000 after purchasing an additional 300 shares during the period. Aperio Group LLC raised its holdings in shares of Neurocrine Biosciences by 3.7% in the 2nd quarter. Aperio Group LLC now owns 22,324 shares of the company’s stock worth $1,027,000 after purchasing an additional 789 shares during the period. Finally, State Board of Administration of Florida Retirement System raised its holdings in shares of Neurocrine Biosciences by 0.7% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 120,426 shares of the company’s stock worth $7,380,000 after purchasing an additional 810 shares during the period.
NBIX has been the topic of a number of research reports. Piper Jaffray Companies set a $68.00 price target on shares of Neurocrine Biosciences and gave the stock a “buy” rating in a report on Thursday, August 24th. ValuEngine raised shares of Neurocrine Biosciences from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Oppenheimer reiterated a “buy” rating and issued a $70.00 price objective on shares of Neurocrine Biosciences in a research note on Thursday, September 7th. Needham & Company LLC reiterated a “buy” rating and issued a $58.00 price objective on shares of Neurocrine Biosciences in a research note on Sunday, September 17th. Finally, Robert W. Baird reiterated an “outperform” rating and issued a $66.00 price objective on shares of Neurocrine Biosciences in a research note on Thursday, September 21st. One investment analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $78.88.
Neurocrine Biosciences, Inc. (NBIX) opened at $70.42 on Friday. Neurocrine Biosciences, Inc. has a one year low of $37.35 and a one year high of $75.98. The company has a quick ratio of 14.37, a current ratio of 14.38 and a debt-to-equity ratio of 1.05.
Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings data on Wednesday, November 1st. The company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.36. The business had revenue of $60.77 million during the quarter, compared to analysts’ expectations of $29.38 million. During the same quarter in the prior year, the firm posted ($0.43) earnings per share. research analysts forecast that Neurocrine Biosciences, Inc. will post -1.74 EPS for the current fiscal year.
In other news, insider Darin Lippoldt sold 2,955 shares of the business’s stock in a transaction on Friday, December 8th. The shares were sold at an average price of $75.00, for a total transaction of $221,625.00. Following the completion of the transaction, the insider now directly owns 16,112 shares in the company, valued at approximately $1,208,400. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gary A. Lyons sold 10,000 shares of the business’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $72.92, for a total transaction of $729,200.00. Following the transaction, the director now owns 272,066 shares of the company’s stock, valued at $19,839,052.72. The disclosure for this sale can be found here. Insiders have sold a total of 90,877 shares of company stock valued at $6,568,617 over the last 90 days. Company insiders own 4.80% of the company’s stock.
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Neurocrine Biosciences Profile
Neurocrine Biosciences, Inc is engaged in discovering and developing pharmaceuticals, in diseases with unmet medical needs, through its research and development (R&D) platform, focused on neurological and endocrine based diseases and disorders. Its three lead late-stage clinical programs are elagolix, which is a gonadotropin-releasing hormone (GnRH) antagonist for endometriosis and uterine fibroids; INGREZZA (valbenazine), which is a vesicular monoamine transporter 2 (VMAT2) inhibitor, for the treatment of movement disorders, and opicapone, which is a selective catechol-O-methyltransferase inhibitor that is an adjunct therapy to preparations of levodopa/Dihydroxyphenylalanine (DOPA) decarboxylase inhibitors for adult patients with Parkinson’s disease.
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