Orbimed Advisors LLC increased its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 258.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 494,200 shares of the company’s stock after buying an additional 356,400 shares during the period. Orbimed Advisors LLC owned about 0.54% of Neurocrine Biosciences worth $35,291,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Eaton Vance Management boosted its holdings in Neurocrine Biosciences by 20.8% in the 4th quarter. Eaton Vance Management now owns 129,434 shares of the company’s stock worth $9,243,000 after buying an additional 22,280 shares during the period. Opera Trading Capital purchased a new stake in Neurocrine Biosciences in the 3rd quarter worth $449,000. Advisors Asset Management Inc. lifted its stake in Neurocrine Biosciences by 106.6% in the 3rd quarter. Advisors Asset Management Inc. now owns 7,030 shares of the company’s stock worth $864,000 after purchasing an additional 3,628 shares in the last quarter. Standard Life Aberdeen plc purchased a new stake in Neurocrine Biosciences in the 3rd quarter worth $16,815,000. Finally, Pacer Advisors Inc. purchased a new stake in Neurocrine Biosciences in the 3rd quarter worth $327,000. 99.82% of the stock is owned by institutional investors.
Shares of NASDAQ NBIX opened at $84.81 on Tuesday. The stock has a market cap of $7.66 billion, a PE ratio of 385.50, a price-to-earnings-growth ratio of 27.21 and a beta of 1.86. Neurocrine Biosciences, Inc. has a 12-month low of $64.72 and a 12-month high of $126.98. The company has a debt-to-equity ratio of 0.81, a quick ratio of 8.24 and a current ratio of 8.36.
Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings results on Tuesday, February 5th. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.14 by $0.05. The company had revenue of $131.49 million for the quarter, compared to the consensus estimate of $132.32 million. Neurocrine Biosciences had a net margin of 4.68% and a return on equity of 5.06%. The firm’s revenue was up 39.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.07 EPS. As a group, sell-side analysts expect that Neurocrine Biosciences, Inc. will post 0.13 EPS for the current year.
Several brokerages have commented on NBIX. JPMorgan Chase & Co. cut shares of Neurocrine Biosciences from an “overweight” rating to a “neutral” rating and boosted their price target for the stock from $97.00 to $100.00 in a research note on Wednesday, January 23rd. Needham & Company LLC cut shares of Neurocrine Biosciences from a “buy” rating to a “hold” rating in a research note on Thursday, January 24th. Canaccord Genuity began coverage on shares of Neurocrine Biosciences in a research note on Wednesday, November 21st. They issued a “buy” rating and a $111.00 price target on the stock. Cantor Fitzgerald reiterated an “overweight” rating on shares of Neurocrine Biosciences in a research note on Wednesday, February 6th. Finally, Oppenheimer set a $140.00 price target on shares of Neurocrine Biosciences and gave the stock a “buy” rating in a research note on Tuesday, December 11th. Five equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $102.56.
In other Neurocrine Biosciences news, insider Eiry Roberts sold 1,857 shares of the company’s stock in a transaction dated Tuesday, January 8th. The shares were sold at an average price of $84.09, for a total value of $156,155.13. Following the transaction, the insider now directly owns 3,143 shares in the company, valued at approximately $264,294.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kyle Gano sold 3,809 shares of the company’s stock in a transaction dated Tuesday, February 5th. The stock was sold at an average price of $88.12, for a total transaction of $335,649.08. Following the completion of the transaction, the insider now owns 17,595 shares in the company, valued at $1,550,471.40. The disclosure for this sale can be found here. Insiders have sold a total of 13,280 shares of company stock worth $1,163,054 over the last quarter. 4.30% of the stock is currently owned by insiders.
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Neurocrine Biosciences Company 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 offers INGREZZA (valbenazine), a vesicular monoamine transporter 2 inhibitor (VMAT2), which is used for the treatment of movement disorders; ORILISSA, a gonadotropin-releasing hormone (GnRH) antagonist for use in women's health.
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