Parametric Portfolio Associates LLC boosted its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 8.6% during the first quarter, Holdings Channel reports. The firm owned 53,059 shares of the company’s stock after buying an additional 4,212 shares during the period. Parametric Portfolio Associates LLC’s holdings in Neurocrine Biosciences were worth $2,297,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in NBIX. Independent Portfolio Consultants Inc. purchased a new position in shares of Neurocrine Biosciences during the first quarter valued at approximately $106,000. First Mercantile Trust Co. raised its position in Neurocrine Biosciences by 22.2% in the first quarter. First Mercantile Trust Co. now owns 3,082 shares of the company’s stock valued at $133,000 after buying an additional 560 shares during the last quarter. Capstone Asset Management Co. bought a new position in Neurocrine Biosciences during the first quarter valued at about $214,000. Grandfield & Dodd LLC bought a new position in Neurocrine Biosciences during the first quarter valued at about $230,000. Finally, Quantitative Systematic Strategies LLC bought a new position in Neurocrine Biosciences during the first quarter valued at about $261,000. Hedge funds and other institutional investors own 95.90% of the company’s stock.
Neurocrine Biosciences, Inc. (NBIX) opened at 46.73 on Monday. The firm’s 50-day moving average price is $47.45 and its 200-day moving average price is $45.18. The stock’s market cap is $4.12 billion. Neurocrine Biosciences, Inc. has a 52 week low of $37.35 and a 52 week high of $55.38.
Neurocrine Biosciences (NASDAQ:NBIX) last posted its earnings results on Tuesday, May 9th. The company reported ($0.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.67) by $0.23. During the same period in the prior year, the firm posted ($0.22) earnings per share. Equities analysts predict that Neurocrine Biosciences, Inc. will post ($2.46) earnings per share for the current fiscal year.
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Several equities analysts recently issued reports on the company. Oppenheimer Holdings, Inc. restated an “outperform” rating and set a $70.00 price target on shares of Neurocrine Biosciences in a research report on Wednesday, July 5th. Piper Jaffray Companies set a $68.00 price target on Neurocrine Biosciences and gave the stock a “buy” rating in a research report on Wednesday, May 24th. J P Morgan Chase & Co set a $57.00 price target on Neurocrine Biosciences and gave the stock a “buy” rating in a research report on Wednesday, May 24th. BidaskClub upgraded Neurocrine Biosciences from a “sell” rating to a “hold” rating in a report on Wednesday, June 21st. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $66.00 price objective on shares of Neurocrine Biosciences in a report on Tuesday, May 30th. Two analysts have rated the stock with a sell rating, two have given a hold rating and sixteen have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $67.69.
In other Neurocrine Biosciences news, insider Haig P. Bozigian sold 13,065 shares of the company’s stock in a transaction on Wednesday, April 12th. The stock was sold at an average price of $50.42, for a total transaction of $658,737.30. Following the completion of the sale, the insider now owns 129,805 shares in the company, valued at $6,544,768.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Dimitri E. Grigoriadis sold 10,000 shares of the company’s stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $53.39, for a total value of $533,900.00. Following the sale, the insider now owns 107,691 shares of the company’s stock, valued at approximately $5,749,622.49. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 104,360 shares of company stock valued at $5,501,889. 4.80% of the stock is owned by company insiders.
Neurocrine Biosciences Company 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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