Marshall Wace North America L.P. Acquires New Position in Neurocrine Biosciences, Inc. (NBIX)
Marshall Wace North America L.P. bought a new stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) during the first quarter, according to its most recent disclosure with the SEC. The fund bought 811,880 shares of the company’s stock, valued at approximately $34,911,000. Marshall Wace North America L.P. owned approximately 0.93% of Neurocrine Biosciences as of its most recent filing with the SEC.
Other large investors also recently bought and sold shares of the company. Perceptive Advisors LLC acquired a new stake in shares of Neurocrine Biosciences during the fourth quarter worth about $128,349,000. BB Biotech AG boosted its position in Neurocrine Biosciences by 1.6% in the first quarter. BB Biotech AG now owns 3,201,552 shares of the company’s stock worth $138,627,000 after buying an additional 50,000 shares in the last quarter. Franklin Resources Inc. boosted its position in Neurocrine Biosciences by 19.8% in the fourth quarter. Franklin Resources Inc. now owns 2,409,715 shares of the company’s stock worth $93,256,000 after buying an additional 397,429 shares in the last quarter. Wellington Management Group LLP boosted its position 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 in the last quarter. Finally, Janus Capital Management LLC boosted its position in Neurocrine Biosciences by 10.6% in the fourth quarter. Janus Capital Management LLC now owns 2,356,485 shares of the company’s stock worth $91,203,000 after buying an additional 224,906 shares in the last quarter. Hedge funds and other institutional investors own 95.90% of the company’s stock.
Neurocrine Biosciences, Inc. (NASDAQ NBIX) opened at 47.47 on Thursday. The stock’s market cap is $4.18 billion. The company’s 50 day moving average is $48.73 and its 200-day moving average is $45.01. Neurocrine Biosciences, Inc. has a 1-year low of $37.35 and a 1-year high of $55.38.
Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings results on Tuesday, May 9th. The company reported ($0.90) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.67) by $0.23. During the same period last year, the business earned ($0.22) EPS. Equities research analysts forecast that Neurocrine Biosciences, Inc. will post ($2.46) earnings per share for the current fiscal year.
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NBIX has been the topic of a number of research analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $62.00 target price on shares of Neurocrine Biosciences in a research note on Friday, March 17th. Barclays PLC raised their price objective on Neurocrine Biosciences from $60.00 to $70.00 and gave the company an “overweight” rating in a research note on Tuesday, May 2nd. ValuEngine cut Neurocrine Biosciences from a “sell” rating to a “strong sell” rating in a research note on Thursday, May 25th. Jefferies Group LLC reaffirmed a “buy” rating and set a $58.00 price objective on shares of Neurocrine Biosciences in a research note on Tuesday, April 4th. Finally, Piper Jaffray Companies reiterated an “outperform” rating and set a $80.00 target price on shares of Neurocrine Biosciences in a report on Tuesday, March 7th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and sixteen have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $67.69.
In other Neurocrine Biosciences news, CEO Kevin Charles Gorman sold 21,739 shares of the company’s stock in a transaction dated Tuesday, May 2nd. The shares were sold at an average price of $53.23, for a total value of $1,157,166.97. Following the transaction, the chief executive officer now directly owns 354,346 shares in the company, valued at approximately $18,861,837.58. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Dimitri E. Grigoriadis sold 10,000 shares of the company’s stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $53.39, for a total transaction of $533,900.00. Following the completion of the transaction, the insider now owns 107,691 shares in the company, valued at $5,749,622.49. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 104,360 shares of company stock worth $5,501,889. Corporate insiders own 4.80% of the company’s stock.
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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