Primecap Management Co. CA Has $65.87 Million Stake in Neurocrine Biosciences, Inc. $NBIX

Primecap Management Co. CA raised its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 37.0% in the 2nd quarter, HoldingsChannel reports. The firm owned 524,040 shares of the company’s stock after purchasing an additional 141,600 shares during the quarter. Primecap Management Co. CA’s holdings in Neurocrine Biosciences were worth $65,867,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in NBIX. Raiffeisen Bank International AG lifted its position in Neurocrine Biosciences by 3.4% during the 2nd quarter. Raiffeisen Bank International AG now owns 16,809 shares of the company’s stock worth $2,147,000 after buying an additional 551 shares in the last quarter. Generali Investments Management Co LLC bought a new position in shares of Neurocrine Biosciences in the second quarter worth about $319,000. Persistent Asset Partners Ltd lifted its position in shares of Neurocrine Biosciences by 51.2% during the second quarter. Persistent Asset Partners Ltd now owns 21,625 shares of the company’s stock worth $2,718,000 after purchasing an additional 7,321 shares in the last quarter. Rockefeller Capital Management L.P. grew its stake in shares of Neurocrine Biosciences by 424.2% during the second quarter. Rockefeller Capital Management L.P. now owns 113,229 shares of the company’s stock valued at $14,232,000 after purchasing an additional 91,630 shares during the last quarter. Finally, Creative Planning increased its holdings in shares of Neurocrine Biosciences by 31.6% in the second quarter. Creative Planning now owns 14,245 shares of the company’s stock valued at $1,790,000 after purchasing an additional 3,422 shares in the last quarter. Institutional investors own 92.59% of the company’s stock.

Insider Buying and Selling

In other Neurocrine Biosciences news, CEO Kyle Gano sold 300 shares of the company’s stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $141.97, for a total value of $42,591.00. Following the completion of the sale, the chief executive officer owned 140,407 shares of the company’s stock, valued at approximately $19,933,581.79. This represents a 0.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William H. Rastetter sold 18,000 shares of Neurocrine Biosciences stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $151.82, for a total transaction of $2,732,760.00. Following the transaction, the director directly owned 40,360 shares in the company, valued at approximately $6,127,455.20. This represents a 30.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 4.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on NBIX shares. UBS Group increased their price objective on Neurocrine Biosciences from $188.00 to $195.00 and gave the company a “buy” rating in a research report on Thursday, October 9th. Morgan Stanley cut their price target on Neurocrine Biosciences from $178.00 to $173.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 11th. Zacks Research upgraded Neurocrine Biosciences from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 15th. Wall Street Zen raised Neurocrine Biosciences from a “hold” rating to a “strong-buy” rating in a report on Saturday, August 2nd. Finally, Stifel Nicolaus upped their target price on shares of Neurocrine Biosciences from $174.00 to $183.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Neurocrine Biosciences has an average rating of “Moderate Buy” and a consensus target price of $170.53.

Neurocrine Biosciences Trading Down 0.4%

NASDAQ:NBIX opened at $138.06 on Thursday. Neurocrine Biosciences, Inc. has a 1-year low of $84.23 and a 1-year high of $157.67. The business’s 50-day moving average price is $142.46 and its two-hundred day moving average price is $133.53. The firm has a market capitalization of $13.77 billion, a price-to-earnings ratio of 33.03, a PEG ratio of 0.94 and a beta of 0.22.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its earnings results on Tuesday, October 28th. The company reported $2.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.59. The company had revenue of $794.90 million during the quarter, compared to analyst estimates of $746.61 million. Neurocrine Biosciences had a return on equity of 15.82% and a net margin of 15.95%.The company’s revenue for the quarter was up 27.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.81 EPS. Sell-side analysts predict that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.

About Neurocrine Biosciences

Neurocrine Biosciences, Inc discovers, develops, and markets pharmaceuticals for neurological, neuroendocrine, and neuropsychiatric disorders in the United States and internationally. The company’s products include INGREZZA for tardive dyskinesia and chorea associated with Huntington’s disease; ALKINDI for adrenal insufficiency; Efmody capsules for classic congenital adrenal hyperplasia; Orilissa tablets for endometriosis; and Oriahnn capsules to treat uterine fibroids.