Piedmont Investment Advisors Inc. Invests $793,000 in Neurocrine Biosciences, Inc. (NBIX)
Piedmont Investment Advisors Inc. acquired a new position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 6,449 shares of the company’s stock, valued at approximately $793,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC acquired a new stake in shares of Neurocrine Biosciences during the 3rd quarter worth $127,000. TRUE Private Wealth Advisors purchased a new stake in Neurocrine Biosciences during the 3rd quarter worth $127,000. Meeder Asset Management Inc. boosted its position in Neurocrine Biosciences by 643.7% during the 2nd quarter. Meeder Asset Management Inc. now owns 1,123 shares of the company’s stock worth $110,000 after purchasing an additional 972 shares during the period. Financial Architects Inc boosted its position in Neurocrine Biosciences by 283.7% during the 3rd quarter. Financial Architects Inc now owns 1,385 shares of the company’s stock worth $170,000 after purchasing an additional 1,024 shares during the period. Finally, Hartford Investment Management Co. purchased a new stake in Neurocrine Biosciences during the 3rd quarter worth $207,000. Institutional investors and hedge funds own 98.88% of the company’s stock.
Shares of NBIX stock opened at $88.49 on Wednesday. Neurocrine Biosciences, Inc. has a one year low of $67.32 and a one year high of $126.98. The stock has a market cap of $7.92 billion, a PE ratio of -54.62, a P/E/G ratio of 22.34 and a beta of 0.94.
In other news, Director Gary A. Lyons sold 15,000 shares of the stock in a transaction dated Friday, November 2nd. The shares were sold at an average price of $114.41, for a total transaction of $1,716,150.00. The sale 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 stock in a transaction dated Monday, October 29th. The stock was sold at an average price of $107.13, for a total transaction of $589,215.00. Following the transaction, the director now directly owns 37,759 shares in the company, valued at approximately $4,045,121.67. The disclosure for this sale can be found here. Insiders have sold 33,623 shares of company stock worth $3,721,361 in the last ninety days. Corporate insiders own 4.30% of the company’s stock.
A number of analysts recently weighed in on the stock. ICAP decreased their price target on shares of Neurocrine Biosciences from $140.00 to $128.00 and set an “outperform” rating for the company in a research report on Tuesday, September 4th. Oppenheimer set a $140.00 price objective on shares of Neurocrine Biosciences and gave the company a “buy” rating in a research report on Tuesday, September 4th. Cantor Fitzgerald assumed coverage on shares of Neurocrine Biosciences in a research report on Friday, September 14th. They issued a “buy” rating and a $150.00 price objective for the company. Stifel Nicolaus upped their price objective on shares of Neurocrine Biosciences from $137.00 to $142.00 and gave the company a “buy” rating in a research report on Thursday, September 20th. Finally, BidaskClub cut shares of Neurocrine Biosciences from a “buy” rating to a “hold” rating in a research report on Saturday, September 15th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seventeen have given a buy rating to the company. Neurocrine Biosciences presently has a consensus rating of “Buy” and a consensus target price of $124.88.
Neurocrine Biosciences Profile
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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