Neurocrine Biosciences, Inc. $NBIX Shares Acquired by Profund Advisors LLC

Profund Advisors LLC increased its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 52.1% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 16,173 shares of the company’s stock after acquiring an additional 5,539 shares during the quarter. Profund Advisors LLC’s holdings in Neurocrine Biosciences were worth $2,294,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. BlackRock Inc. purchased a new stake in Neurocrine Biosciences during the second quarter valued at about $2,310,886,000. Renaissance Technologies LLC raised its holdings in shares of Neurocrine Biosciences by 8.0% during the first quarter. Renaissance Technologies LLC now owns 2,418,897 shares of the company’s stock valued at $318,665,000 after acquiring an additional 180,100 shares during the period. First Trust Advisors LP lifted its position in shares of Neurocrine Biosciences by 97.0% in the 1st quarter. First Trust Advisors LP now owns 959,217 shares of the company’s stock valued at $126,367,000 after acquiring an additional 472,408 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Neurocrine Biosciences in the 2nd quarter valued at approximately $117,827,000. Finally, Ieq Capital LLC acquired a new position in Neurocrine Biosciences in the 2nd quarter worth approximately $107,914,000. 92.59% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Neurocrine Biosciences

In other Neurocrine Biosciences news, insider David Boyer sold 826 shares of the company’s stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $157.45, for a total transaction of $130,053.70. Following the completion of the sale, the insider directly owned 8,722 shares in the company, valued at $1,373,278.90. This represents a 8.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Matt Abernethy sold 2,311 shares of the firm’s stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $157.20, for a total value of $363,289.20. Following the completion of the sale, the chief financial officer directly owned 42,808 shares in the company, valued at approximately $6,729,417.60. This represents a 5.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 4.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

NBIX has been the topic of several recent analyst reports. Cantor Fitzgerald upped their price target on Neurocrine Biosciences from $210.00 to $215.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. BMO Capital Markets decreased their price objective on Neurocrine Biosciences from $164.00 to $150.00 and set a “market perform” rating for the company in a research report on Monday, October 12th. Zacks Research cut Neurocrine Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 4th. Citigroup upped their target price on Neurocrine Biosciences from $249.00 to $253.00 and gave the company a “buy” rating in a report on Thursday, September 3rd. Finally, Wedbush increased their price target on shares of Neurocrine Biosciences from $185.00 to $194.00 and gave the stock an “outperform” rating in a research report on Monday, August 3rd. One 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. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $201.14.

Neurocrine Biosciences Stock Performance

NASDAQ NBIX opened at $146.10 on Monday. Neurocrine Biosciences, Inc. has a 1 year low of $122.14 and a 1 year high of $186.12. The company has a fifty day simple moving average of $146.63 and a 200 day simple moving average of $147.39. The company has a market cap of $14.85 billion, a P/E ratio of 21.42, a P/E/G ratio of 0.64 and a beta of 0.36.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its earnings results on Friday, July 31st. The company reported $2.85 EPS for the quarter, topping the consensus estimate of $1.65 by $1.20. The firm had revenue of $959.00 million for the quarter, compared to the consensus estimate of $891.16 million. Neurocrine Biosciences had a net margin of 20.91% and a return on equity of 22.43%. The business’s quarterly revenue was up 39.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.65 EPS. Equities research analysts forecast that Neurocrine Biosciences, Inc. will post 7.72 EPS for the current fiscal year.

Neurocrine Biosciences Profile

Neurocrine Biosciences, Inc is a San Diego-based biopharmaceutical company focused on discovering, developing and commercializing medicines for neurological, neuroendocrine and psychiatric disorders. The company’s research programs target conditions in which treatments may address significant unmet medical needs.

Neurocrine’s leading product is INGREZZA (valbenazine), a vesicular monoamine transporter 2 inhibitor approved in the United States for the treatment of tardive dyskinesia and chorea associated with Huntington’s disease.