Comerica Bank Boosts Holdings in Neurocrine Biosciences, Inc. (NBIX)
Comerica Bank raised its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 178.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 8,654 shares of the company’s stock after purchasing an additional 5,549 shares during the period. Comerica Bank’s holdings in Neurocrine Biosciences were worth $736,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Exane Derivatives increased its position in Neurocrine Biosciences by 48,400.0% during the 4th quarter. Exane Derivatives now owns 485 shares of the company’s stock valued at $35,000 after purchasing an additional 484 shares during the period. Rehmann Capital Advisory Group increased its position in Neurocrine Biosciences by 54.7% during the 3rd quarter. Rehmann Capital Advisory Group now owns 557 shares of the company’s stock valued at $68,000 after purchasing an additional 197 shares during the period. SG Americas Securities LLC increased its position in Neurocrine Biosciences by 8.7% during the 4th quarter. SG Americas Securities LLC now owns 1,971 shares of the company’s stock valued at $141,000 after purchasing an additional 157 shares during the period. Signaturefd LLC increased its position in Neurocrine Biosciences by 295.9% during the 3rd quarter. Signaturefd LLC now owns 1,338 shares of the company’s stock valued at $165,000 after purchasing an additional 1,000 shares during the period. Finally, Strs Ohio increased its position in Neurocrine Biosciences by 32.0% during the 4th quarter. Strs Ohio now owns 2,667 shares of the company’s stock valued at $190,000 after purchasing an additional 646 shares during the period.
A number of analysts have recently weighed in on the stock. Cantor Fitzgerald restated a “buy” rating and issued a $121.00 price target on shares of Neurocrine Biosciences in a report on Wednesday, December 12th. Oppenheimer set a $140.00 price target on shares of Neurocrine Biosciences and gave the company a “buy” rating in a report on Tuesday, December 11th. Zacks Investment Research cut shares of Neurocrine Biosciences from a “buy” rating to a “hold” rating in a report on Saturday, February 9th. Canaccord Genuity assumed coverage on shares of Neurocrine Biosciences in a report on Wednesday, November 21st. They issued a “buy” rating and a $111.00 price target on the stock. Finally, ValuEngine cut shares of Neurocrine Biosciences from a “buy” rating to a “hold” rating in a report on Wednesday, December 12th. Six analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $102.56.
Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings results on Tuesday, February 5th. The company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.05. The business had revenue of $131.49 million for the quarter, compared to analysts’ expectations of $132.32 million. Neurocrine Biosciences had a net margin of 4.68% and a return on equity of 5.06%. The company’s revenue was up 39.1% compared to the same quarter last year. During the same period last year, the business earned $0.07 EPS. As a group, equities research analysts forecast that Neurocrine Biosciences, Inc. will post 0.11 EPS for the current year.
In related news, CEO Kevin Charles Gorman sold 7,614 shares of Neurocrine Biosciences stock in a transaction that occurred on Tuesday, February 5th. The shares were sold at an average price of $88.16, for a total value of $671,250.24. Following the completion of the sale, the chief executive officer now directly owns 408,082 shares in the company, valued at approximately $35,976,509.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kyle Gano sold 3,809 shares of Neurocrine Biosciences stock in a transaction that occurred on 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 sale, the insider now owns 17,595 shares of the company’s stock, valued at $1,550,471.40. The disclosure for this sale can be found here. Insiders sold a total of 13,280 shares of company stock valued at $1,163,054 over the last quarter. 4.30% of the stock is owned by company 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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