Neurocrine Biosciences, Inc. $NBIX Shares Bought by SG Americas Securities LLC

SG Americas Securities LLC grew its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 214.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,191 shares of the company’s stock after acquiring an additional 10,357 shares during the quarter. SG Americas Securities LLC’s holdings in Neurocrine Biosciences were worth $2,133,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NBIX. Allspring Global Investments Holdings LLC raised its stake in Neurocrine Biosciences by 15.5% during the second quarter. Allspring Global Investments Holdings LLC now owns 447,900 shares of the company’s stock worth $57,331,000 after purchasing an additional 60,094 shares during the period. Assetmark Inc. increased its holdings in shares of Neurocrine Biosciences by 10.8% during the 2nd quarter. Assetmark Inc. now owns 21,001 shares of the company’s stock worth $2,640,000 after buying an additional 2,045 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of Neurocrine Biosciences by 87.9% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 125,162 shares of the company’s stock worth $15,732,000 after buying an additional 58,562 shares during the period. Capital Fund Management S.A. boosted its holdings in Neurocrine Biosciences by 15.9% in the second quarter. Capital Fund Management S.A. now owns 203,628 shares of the company’s stock valued at $25,594,000 after acquiring an additional 27,987 shares during the last quarter. Finally, Saturn V Capital Management LP acquired a new position in Neurocrine Biosciences in the second quarter valued at $7,313,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Insider Transactions at Neurocrine Biosciences

In related news, Director William H. Rastetter sold 18,000 shares of the stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $151.82, for a total value of $2,732,760.00. Following the completion of the transaction, the director owned 40,360 shares of the company’s stock, valued at approximately $6,127,455.20. This represents a 30.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Kyle Gano sold 300 shares of the firm’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 sale, the chief executive officer owned 140,407 shares of the company’s stock, valued at approximately $19,933,581.79. This trade represents a 0.21% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 43,866 shares of company stock worth $6,570,237 over the last three months. Insiders own 4.80% of the company’s stock.

Neurocrine Biosciences Stock Up 2.3%

Shares of NASDAQ:NBIX opened at $135.33 on Thursday. The company has a market capitalization of $13.49 billion, a price-to-earnings ratio of 32.38, a price-to-earnings-growth ratio of 0.64 and a beta of 0.28. The company has a 50 day moving average of $145.58 and a two-hundred day moving average of $139.88. Neurocrine Biosciences, Inc. has a 52-week low of $84.23 and a 52-week high of $160.18.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its earnings results on Tuesday, October 28th. The company reported $2.17 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.59. The business had revenue of $794.90 million for the quarter, compared to analysts’ expectations of $746.61 million. Neurocrine Biosciences had a net margin of 15.95% and a return on equity of 15.82%. The business’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 posted $1.81 earnings per share. On average, equities analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on NBIX shares. Mizuho raised their price objective on Neurocrine Biosciences from $146.00 to $175.00 and gave the stock a “neutral” rating in a report on Friday, December 12th. Needham & Company LLC increased their target price on shares of Neurocrine Biosciences from $170.00 to $184.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Piper Sandler raised their price target on shares of Neurocrine Biosciences from $175.00 to $179.00 and gave the company an “overweight” rating in a report on Wednesday, October 29th. Wall Street Zen downgraded shares of Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 10th. Finally, Royal Bank Of Canada increased their price objective on shares of Neurocrine Biosciences from $160.00 to $180.00 and gave the stock an “outperform” rating in a research report on Monday, December 8th. Seventeen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $175.10.

Neurocrine Biosciences Company Profile

Neurocrine Biosciences (NASDAQ: NBIX) is a biopharmaceutical company based in San Diego, California, focused on developing treatments for neurological, endocrine and neuropsychiatric disorders. Since its founding in 1992, the company has pursued a research‐driven strategy aimed at addressing unmet medical needs in movement disorders, reproductive health and central nervous system conditions. Neurocrine’s operations encompass drug discovery, clinical development and commercialization activities.

The company’s lead marketed product, Ingrezza™ (valbenazine), is indicated for the treatment of tardive dyskinesia, a movement disorder associated with long-term antipsychotic use.