Neurocrine Biosciences, Inc. (NBIX) Position Increased by Pictet Asset Management Ltd.
Pictet Asset Management Ltd. increased its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 12.3% during the second quarter, Holdings Channel reports. The fund owned 1,140,859 shares of the company’s stock after buying an additional 124,965 shares during the period. Pictet Asset Management Ltd.’s holdings in Neurocrine Biosciences were worth $49,593,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in NBIX. BlackRock Inc. increased its stake in Neurocrine Biosciences by 14,216.0% in the first quarter. BlackRock Inc. now owns 5,031,933 shares of the company’s stock worth $217,884,000 after buying an additional 4,996,784 shares during the last quarter. Wellington Management Group LLP increased its stake in Neurocrine Biosciences by 554.4% in the first quarter. Wellington Management Group LLP now owns 2,407,376 shares of the company’s stock worth $104,240,000 after buying an additional 2,039,509 shares during the last quarter. Janus Capital Management LLC increased its stake in Neurocrine Biosciences by 85.0% in the first quarter. Janus Capital Management LLC now owns 4,359,384 shares of the company’s stock worth $188,759,000 after buying an additional 2,002,899 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in Neurocrine Biosciences by 126.0% in the first quarter. Goldman Sachs Group Inc. now owns 1,743,949 shares of the company’s stock worth $75,513,000 after buying an additional 972,434 shares during the last quarter. Finally, MARSHALL WACE ASIA Ltd bought a new stake in Neurocrine Biosciences during the first quarter worth about $34,911,000. Hedge funds and other institutional investors own 96.48% of the company’s stock.
Neurocrine Biosciences, Inc. (NASDAQ NBIX) opened at 53.65 on Wednesday. The firm’s market capitalization is $4.73 billion. Neurocrine Biosciences, Inc. has a 52-week low of $37.35 and a 52-week high of $55.38. The stock’s 50 day moving average is $47.37 and its 200-day moving average is $46.32.
Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings results on Thursday, August 3rd. The company reported ($0.68) EPS for the quarter, missing the consensus estimate of ($0.67) by $0.01. The business had revenue of $6.34 million during the quarter, compared to the consensus estimate of $0.61 million. During the same quarter in the previous year, the business posted ($0.46) EPS. Equities analysts expect that Neurocrine Biosciences, Inc. will post ($2.45) earnings per share for the current year.
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A number of equities research analysts recently issued reports on NBIX shares. Barclays PLC boosted their target price on shares of Neurocrine Biosciences from $60.00 to $70.00 and gave the company an “overweight” rating in a report on Tuesday, May 2nd. ValuEngine downgraded shares of Neurocrine Biosciences from a “sell” rating to a “strong sell” rating in a research note on Thursday, May 25th. J P Morgan Chase & Co set a $60.00 price objective on shares of Neurocrine Biosciences and gave the stock a “buy” rating in a research note on Wednesday, April 12th. Robert W. Baird reiterated an “outperform” rating and set a $66.00 price objective on shares of Neurocrine Biosciences in a research note on Friday, April 14th. Finally, Bank of America Corporation reiterated a “buy” rating and set a $70.00 price objective on shares of Neurocrine Biosciences in a research note on Monday, May 15th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and sixteen have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $68.25.
In other Neurocrine Biosciences news, insider Malcolm Lloyd-Smith sold 9,960 shares of the stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $53.63, for a total transaction of $534,154.80. Following the transaction, the insider now owns 17,997 shares in the company, valued at $965,179.11. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Christopher Flint Obrien sold 8,734 shares of the stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $50.00, for a total value of $436,700.00. Following the transaction, the insider now owns 57,707 shares in the company, valued at approximately $2,885,350. The disclosure for this sale can be found here. In the last quarter, insiders have sold 51,194 shares of company stock worth $2,629,755. Corporate insiders own 4.80% of the company’s stock.
About Neurocrine Biosciences
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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