Macquarie Group Ltd. Buys 4,535 Shares of Neurocrine Biosciences, Inc. (NBIX)
Macquarie Group Ltd. boosted its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 0.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 763,232 shares of the company’s stock after acquiring an additional 4,535 shares during the period. Macquarie Group Ltd. owned 0.86% of Neurocrine Biosciences worth $46,770,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. First Trust Advisors LP increased its position in Neurocrine Biosciences by 29.0% in the 3rd quarter. First Trust Advisors LP now owns 782,685 shares of the company’s stock valued at $47,963,000 after buying an additional 176,136 shares in the last quarter. Canada Pension Plan Investment Board increased its stake in Neurocrine Biosciences by 49.7% in the second quarter. Canada Pension Plan Investment Board now owns 24,700 shares of the company’s stock valued at $1,136,000 after acquiring an additional 8,200 shares during the last quarter. Artisan Partners Limited Partnership bought a new position in Neurocrine Biosciences in the second quarter valued at $15,981,000. Davidson Kempner Capital Management LP bought a new position in Neurocrine Biosciences in the second quarter valued at $3,639,000. Finally, California Public Employees Retirement System increased its stake in Neurocrine Biosciences by 2.2% in the second quarter. California Public Employees Retirement System now owns 179,300 shares of the company’s stock valued at $8,248,000 after acquiring an additional 3,900 shares during the last quarter.
In related news, insider Christopher Flint Obrien sold 52,817 shares of the stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $57.50, for a total transaction of $3,036,977.50. Following the sale, the insider now directly owns 101,790 shares of the company’s stock, valued at $5,852,925. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Dimitri E. Grigoriadis sold 30,000 shares of the stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $74.58, for a total transaction of $2,237,400.00. Following the sale, the insider now directly owns 77,691 shares in the company, valued at $5,794,194.78. The disclosure for this sale can be found here. Insiders sold 150,710 shares of company stock worth $9,758,593 in the last quarter. Company insiders own 4.80% of the company’s stock.
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A number of analysts have recently weighed in on the stock. Citigroup Inc. reiterated a “buy” rating and set a $79.00 target price on shares of Neurocrine Biosciences in a report on Thursday, November 2nd. Piper Jaffray Companies restated a “buy” rating and issued a $76.00 price objective on shares of Neurocrine Biosciences in a report on Wednesday, October 25th. BidaskClub upgraded shares of Neurocrine Biosciences from a “hold” rating to a “buy” rating in a report on Wednesday, August 9th. Jefferies Group LLC restated a “buy” rating and issued a $69.00 price objective (up from $66.00) on shares of Neurocrine Biosciences in a report on Tuesday, October 3rd. Finally, Needham & Company LLC restated a “buy” rating and issued a $58.00 price objective on shares of Neurocrine Biosciences in a report on Sunday, September 17th. One research analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company. Neurocrine Biosciences presently has a consensus rating of “Buy” and an average target price of $78.88.
Neurocrine Biosciences, Inc. (NBIX) traded up $0.72 during midday trading on Tuesday, hitting $72.49. 88,417 shares of the company traded hands, compared to its average volume of 1,120,152. The company has a debt-to-equity ratio of 1.05, a current ratio of 14.38 and a quick ratio of 14.37. Neurocrine Biosciences, Inc. has a 1 year low of $37.35 and a 1 year high of $75.98.
Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings results on Wednesday, November 1st. The company reported ($0.13) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.49) by $0.36. The company had revenue of $60.77 million for the quarter, compared to analyst estimates of $29.38 million. During the same quarter in the previous year, the company posted ($0.43) EPS. research analysts forecast that Neurocrine Biosciences, Inc. will post -1.74 earnings per share for the current fiscal year.
About Neurocrine Biosciences
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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