Victory Capital Management Inc. grew its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 60.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 605,135 shares of the company’s stock after acquiring an additional 228,163 shares during the quarter. Victory Capital Management Inc.’s holdings in Neurocrine Biosciences were worth $74,402,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Meeder Asset Management Inc. boosted its holdings in shares of Neurocrine Biosciences by 643.7% during the 2nd quarter. Meeder Asset Management Inc. now owns 1,123 shares of the company’s stock valued at $110,000 after acquiring an additional 972 shares during the last quarter. TRUE Private Wealth Advisors purchased a new stake in shares of Neurocrine Biosciences during the 3rd quarter valued at about $127,000. Steward Partners Investment Advisory LLC purchased a new stake in shares of Neurocrine Biosciences during the 3rd quarter valued at about $127,000. Ladenburg Thalmann Financial Services Inc. boosted its holdings in shares of Neurocrine Biosciences by 103.4% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,016 shares of the company’s stock valued at $167,000 after acquiring an additional 1,025 shares during the last quarter. Finally, Financial Architects Inc boosted its holdings in shares of Neurocrine Biosciences by 283.7% during the 3rd quarter. Financial Architects Inc now owns 1,385 shares of the company’s stock valued at $170,000 after acquiring an additional 1,024 shares during the last quarter.
In other Neurocrine Biosciences news, Director Gary A. Lyons sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, November 2nd. The shares were sold at an average price of $114.41, for a total transaction of $1,716,150.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Richard F. Pops sold 5,500 shares of the firm’s stock in a transaction that occurred on Monday, October 29th. The stock was sold at an average price of $107.13, for a total transaction of $589,215.00. Following the sale, the director now owns 37,759 shares in the company, valued at approximately $4,045,121.67. The disclosure for this sale can be found here. 4.30% of the stock is currently owned by company insiders.
A number of brokerages have recently issued reports on NBIX. ICAP dropped their price target on shares of Neurocrine Biosciences from $140.00 to $128.00 and set an “outperform” rating on the stock in a report on Tuesday, September 4th. Oppenheimer set a $140.00 price objective on shares of Neurocrine Biosciences and gave the stock a “buy” rating in a report on Tuesday, September 4th. Cantor Fitzgerald began coverage on shares of Neurocrine Biosciences in a report on Friday, September 14th. They issued a “buy” rating and a $150.00 price objective on the stock. Stifel Nicolaus raised their price objective on shares of Neurocrine Biosciences from $137.00 to $142.00 and gave the stock a “buy” rating in a report on Thursday, September 20th. Finally, BidaskClub downgraded shares of Neurocrine Biosciences from a “buy” rating to a “hold” rating in a report on Saturday, September 15th. One analyst has rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $125.50.
NBIX opened at $110.55 on Tuesday. The company has a current ratio of 9.19, a quick ratio of 9.19 and a debt-to-equity ratio of 1.00. The company has a market capitalization of $10.48 billion, a P/E ratio of -68.24, a price-to-earnings-growth ratio of 37.22 and a beta of 0.94. Neurocrine Biosciences, Inc. has a 12-month low of $67.32 and a 12-month high of $126.98.
Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings data on Monday, November 5th. The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.06. The company had revenue of $151.80 million for the quarter, compared to the consensus estimate of $151.51 million. Neurocrine Biosciences had a negative net margin of 16.07% and a negative return on equity of 14.22%. The firm’s revenue was up 149.7% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.13) earnings per share. On average, equities research analysts predict that Neurocrine Biosciences, Inc. will post 0.15 earnings per share for the current year.
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About Neurocrine Biosciences
Neurocrine Biosciences, Inc discovers and develops pharmaceuticals for the treatment of neurological and endocrine-related diseases and disorders in the United States. The company's lead products include INGREZZA (valbenazine), a vesicular monoamine transporter 2 inhibitor (VMAT2), which is used for the treatment of movement disorders; elagolix, a gonadotropin-releasing hormone (GnRH) antagonist that is in Phase III clinical trial for use in women's health; and opicapone, a catechol-O-methyltransferase inhibitor, which is in Phase III clinical trial that is used for in adjunct therapy and preparations of levodopa/DOPA decarboxylase inhibitors for adult patients with Parkinson's disease.
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