BlackRock Inc. trimmed its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 4.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,802,227 shares of the company’s stock after selling 229,706 shares during the period. BlackRock Inc. owned about 5.45% of Neurocrine Biosciences worth $220,901,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Emory University purchased a new position in Neurocrine Biosciences in the 2nd quarter worth approximately $1,349,000. TIAA CREF Investment Management LLC increased its stake in Neurocrine Biosciences by 21.1% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 329,035 shares of the company’s stock worth $15,136,000 after purchasing an additional 57,371 shares during the period. Teachers Advisors LLC increased its stake in Neurocrine Biosciences by 10.8% in the 2nd quarter. Teachers Advisors LLC now owns 91,550 shares of the company’s stock worth $4,211,000 after purchasing an additional 8,903 shares during the period. Stephens Inc. AR purchased a new position in Neurocrine Biosciences in the 2nd quarter worth approximately $207,000. Finally, Alliancebernstein L.P. increased its stake in Neurocrine Biosciences by 3.1% in the 2nd quarter. Alliancebernstein L.P. now owns 956,675 shares of the company’s stock worth $44,007,000 after purchasing an additional 28,660 shares during the period.
Shares of Neurocrine Biosciences, Inc. (NBIX) opened at 62.44 on Friday. The company’s 50 day moving average price is $57.19 and its 200 day moving average price is $50.50. The company’s market capitalization is $5.51 billion. Neurocrine Biosciences, Inc. has a 52-week low of $37.35 and a 52-week high of $63.77.
Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings results on Thursday, August 3rd. The company reported ($0.68) earnings per share for the quarter, missing the consensus estimate of ($0.67) by ($0.01). The firm had revenue of $6.34 million during the quarter, compared to analysts’ expectations of $0.61 million. During the same quarter last year, the firm posted ($0.46) EPS. On average, analysts predict that Neurocrine Biosciences, Inc. will post ($2.45) EPS for the current year.
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A number of equities analysts have commented on the company. BMO Capital Markets lifted their price target on Neurocrine Biosciences from $75.00 to $84.00 and gave the stock an “outperform” rating in a research note on Friday, August 4th. Piper Jaffray Companies set a $68.00 price target on Neurocrine Biosciences and gave the stock a “buy” rating in a research note on Thursday, August 24th. BidaskClub raised Neurocrine Biosciences from a “hold” rating to a “buy” rating in a research note on Wednesday, August 9th. Needham & Company LLC reaffirmed a “buy” rating and issued a $58.00 price target on shares of Neurocrine Biosciences in a research note on Sunday, September 17th. Finally, Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and issued a $70.00 price target on shares of Neurocrine Biosciences in a research note on Thursday, September 7th. Two research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Neurocrine Biosciences currently has a consensus rating of “Buy” and an average price target of $68.44.
In other Neurocrine Biosciences news, insider Christopher Flint Obrien sold 8,734 shares of the firm’s stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $50.00, for a total transaction of $436,700.00. Following the transaction, the insider now directly owns 57,707 shares in the company, valued at approximately $2,885,350. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Dimitri E. Grigoriadis sold 15,354 shares of the firm’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $55.00, for a total value of $844,470.00. Following the transaction, the insider now owns 123,045 shares in the company, valued at $6,767,475. The disclosure for this sale can be found here. Over the last quarter, insiders sold 132,580 shares of company stock worth $7,440,850. Company 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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