Oppenheimer & Co. Inc. boosted its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 121.4% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,964 shares of the company’s stock after purchasing an additional 3,270 shares during the period. Oppenheimer & Co. Inc.’s holdings in Neurocrine Biosciences were worth $537,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Evolution Wealth Advisors LLC purchased a new position in Neurocrine Biosciences during the second quarter valued at approximately $40,000. Capital Investment Advisory Services LLC purchased a new position in Neurocrine Biosciences during the second quarter valued at approximately $43,000. NEXT Financial Group Inc grew its position in Neurocrine Biosciences by 89.8% during the second quarter. NEXT Financial Group Inc now owns 560 shares of the company’s stock valued at $47,000 after purchasing an additional 265 shares in the last quarter. Tower Research Capital LLC TRC grew its position in Neurocrine Biosciences by 70.5% during the second quarter. Tower Research Capital LLC TRC now owns 595 shares of the company’s stock valued at $51,000 after purchasing an additional 246 shares in the last quarter. Finally, Flagship Harbor Advisors LLC purchased a new position in Neurocrine Biosciences during the third quarter valued at approximately $67,000. 96.07% of the stock is currently owned by hedge funds and other institutional investors.
NASDAQ NBIX opened at $110.77 on Friday. The company has a 50 day moving average price of $95.60 and a two-hundred day moving average price of $89.48. The company has a quick ratio of 7.32, a current ratio of 7.08 and a debt-to-equity ratio of 0.83. Neurocrine Biosciences, Inc. has a 12-month low of $64.72 and a 12-month high of $111.08. The stock has a market capitalization of $9.43 billion, a PE ratio of 503.50, a price-to-earnings-growth ratio of 6.41 and a beta of 1.20.
Neurocrine Biosciences (NASDAQ:NBIX) last posted its earnings results on Monday, November 4th. The company reported $0.56 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.63 by ($0.07). Neurocrine Biosciences had a return on equity of 5.67% and a net margin of 3.12%. The firm had revenue of $222.09 million during the quarter, compared to the consensus estimate of $211.31 million. During the same period in the previous year, the company posted $0.52 EPS. The firm’s revenue for the quarter was up 46.3% compared to the same quarter last year. As a group, equities analysts anticipate that Neurocrine Biosciences, Inc. will post 0.82 EPS for the current year.
In other news, insider Julie Cooke sold 987 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $88.56, for a total value of $87,408.72. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Dimitri E. Grigoriadis sold 10,188 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $100.34, for a total transaction of $1,022,263.92. Following the completion of the sale, the insider now directly owns 118,596 shares in the company, valued at approximately $11,899,922.64. The disclosure for this sale can be found here. In the last ninety days, insiders sold 37,795 shares of company stock worth $3,681,988. 4.30% of the stock is owned by insiders.
NBIX has been the subject of a number of analyst reports. CIBC initiated coverage on shares of Neurocrine Biosciences in a research note on Tuesday, July 16th. They issued an “outperform” rating and a $100.00 target price for the company. Needham & Company LLC reiterated a “hold” rating on shares of Neurocrine Biosciences in a research note on Wednesday, July 31st. Piper Jaffray Companies lifted their target price on shares of Neurocrine Biosciences from $111.00 to $116.00 in a research note on Tuesday, November 5th. Credit Suisse Group lifted their target price on shares of Neurocrine Biosciences from $95.00 to $110.00 and gave the company an “outperform” rating in a research note on Tuesday, July 30th. Finally, Stifel Nicolaus set a $113.00 target price on shares of Neurocrine Biosciences and gave the company a “buy” rating in a research note on Monday, July 15th. Three analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $106.94.
Neurocrine Biosciences 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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