Covenant Partners LLC Purchases New Holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Covenant Partners LLC purchased a new stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) in the third quarter, Holdings Channel reports. The firm purchased 2,225 shares of the company’s stock, valued at approximately $214,000.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Mint Tower Capital Management B.V. purchased a new stake in shares of Neurocrine Biosciences during the second quarter valued at approximately $13,076,000. Orbimed Advisors LLC increased its position in shares of Neurocrine Biosciences by 2.7% during the second quarter. Orbimed Advisors LLC now owns 1,185,915 shares of the company’s stock valued at $144,682,000 after acquiring an additional 30,900 shares during the last quarter. Congress Asset Management Co. MA purchased a new stake in shares of Neurocrine Biosciences during the third quarter valued at approximately $73,817,000. Two Sigma Advisers LP increased its position in shares of Neurocrine Biosciences by 1.3% during the second quarter. Two Sigma Advisers LP now owns 728,173 shares of the company’s stock valued at $88,837,000 after acquiring an additional 9,500 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of Neurocrine Biosciences by 9.2% during the third quarter. Victory Capital Management Inc. now owns 702,111 shares of the company’s stock valued at $67,516,000 after acquiring an additional 59,279 shares during the last quarter. 96.85% of the stock is owned by institutional investors.

In other Neurocrine Biosciences news, insider Julie Cooke sold 987 shares of the firm’s stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $95.26, for a total transaction of $94,021.62. Following the sale, the insider now owns 9,549 shares in the company, valued at $909,637.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Eric Benevich sold 20,595 shares of the firm’s stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $96.53, for a total value of $1,988,035.35. Following the sale, the insider now owns 35,969 shares in the company, valued at approximately $3,472,087.57. The disclosure for this sale can be found here. Insiders have sold 27,229 shares of company stock valued at $2,594,534 in the last three months. 4.30% of the stock is owned by corporate insiders.

NASDAQ:NBIX opened at $89.00 on Friday. The firm has a market capitalization of $8.32 billion, a price-to-earnings ratio of 42.18 and a beta of 1.14. Neurocrine Biosciences, Inc. has a 52-week low of $72.14 and a 52-week high of $136.26. The stock has a fifty day moving average of $97.69 and a 200 day moving average of $112.21.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings data on Saturday, November 14th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by ($0.73). The business had revenue of $258.80 million for the quarter, compared to the consensus estimate of $282.59 million. Neurocrine Biosciences had a net margin of 20.36% and a return on equity of 39.22%. Neurocrine Biosciences’s quarterly revenue was up 16.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.56 EPS. On average, equities analysts predict that Neurocrine Biosciences, Inc. will post 2.11 earnings per share for the current year.

NBIX has been the subject of several research reports. Cantor Fitzgerald increased their price objective on Neurocrine Biosciences from $144.00 to $161.00 and gave the company an “overweight” rating in a report on Tuesday, August 4th. Mizuho reduced their price objective on Neurocrine Biosciences from $132.00 to $117.00 and set a “neutral” rating for the company in a report on Tuesday, November 10th. JPMorgan Chase & Co. lowered Neurocrine Biosciences from an “overweight” rating to a “neutral” rating and set a $136.00 price objective for the company. in a report on Tuesday, August 4th. They noted that the move was a valuation call. Piper Sandler increased their price objective on Neurocrine Biosciences from $141.00 to $145.00 and gave the company an “overweight” rating in a report on Tuesday, August 4th. Finally, Credit Suisse Group reduced their price objective on Neurocrine Biosciences from $105.00 to $90.00 and set a “neutral” rating for the company in a report on Tuesday, November 10th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $132.14.

Neurocrine Biosciences Company Profile

Neurocrine Biosciences, Inc, a commercial-stage biopharmaceutical company, discovers and develops therapeutics for the treatment of neurological, endocrine, and psychiatric disorders in the United States. The company offers INGREZZA (valbenazine), a vesicular monoamine transporter 2 inhibitor (VMAT2) for the treatment of tardive dyskinesia; and ORILISSA, a gonadotropin-releasing hormone antagonist for use in the treatment of endometriosis.

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Institutional Ownership by Quarter for Neurocrine Biosciences (NASDAQ:NBIX)

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