Van ECK Associates Corp Has $11.71 Million Stock Position in Neurocrine Biosciences, Inc. $NBIX

Van ECK Associates Corp cut its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 22.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 69,482 shares of the company’s stock after selling 19,577 shares during the period. Van ECK Associates Corp owned approximately 0.07% of Neurocrine Biosciences worth $11,710,000 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. BlackRock Inc. acquired a new position in Neurocrine Biosciences during the 2nd quarter valued at about $2,310,886,000. AQR Capital Management LLC increased its position in shares of Neurocrine Biosciences by 18.0% during the 4th quarter. AQR Capital Management LLC now owns 3,271,706 shares of the company’s stock valued at $462,652,000 after purchasing an additional 498,058 shares during the last quarter. Renaissance Technologies LLC increased its holdings in Neurocrine Biosciences by 8.0% during the first quarter. Renaissance Technologies LLC now owns 2,418,897 shares of the company’s stock worth $318,665,000 after buying an additional 180,100 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Neurocrine Biosciences by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 2,059,282 shares of the company’s stock worth $291,342,000 after purchasing an additional 34,457 shares during the period. Finally, Los Angeles Capital Management LLC raised its stake in shares of Neurocrine Biosciences by 7.4% in the fourth quarter. Los Angeles Capital Management LLC now owns 1,291,278 shares of the company’s stock valued at $178,248,000 after buying an additional 88,522 shares during the period. Institutional investors and hedge funds own 92.59% of the company’s stock.

Neurocrine Biosciences Stock Performance

Neurocrine Biosciences stock opened at $154.03 on Tuesday. The stock has a market cap of $15.66 billion, a price-to-earnings ratio of 22.59, a PEG ratio of 0.72 and a beta of 0.39. The stock’s 50 day simple moving average is $166.62 and its two-hundred day simple moving average is $149.62. Neurocrine Biosciences, Inc. has a fifty-two week low of $122.14 and a fifty-two week high of $186.12.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings data on Friday, July 31st. The company reported $2.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.65 by $1.20. The business had revenue of $959.00 million during the quarter, compared to the consensus estimate of $891.16 million. Neurocrine Biosciences had a return on equity of 22.43% and a net margin of 20.91%.The firm’s quarterly revenue was up 39.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.65 earnings per share. On average, analysts predict that Neurocrine Biosciences, Inc. will post 7.25 earnings per share for the current year.

Insider Buying and Selling

In other Neurocrine Biosciences news, Director Stephen A. Sherwin sold 25,000 shares of the firm’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $165.32, for a total transaction of $4,133,000.00. Following the completion of the sale, the director directly owned 15,860 shares in the company, valued at approximately $2,621,975.20. This trade represents a 61.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Ingrid Delaet sold 4,367 shares of the business’s stock in a transaction that occurred on Friday, July 10th. The stock was sold at an average price of $181.02, for a total transaction of $790,514.34. Following the completion of the transaction, the insider owned 16,225 shares of the company’s stock, valued at approximately $2,937,049.50. The trade was a 21.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 66,438 shares of company stock worth $11,461,708. 4.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

NBIX has been the topic of several research reports. JPMorgan Chase & Co. boosted their price target on shares of Neurocrine Biosciences from $177.00 to $185.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. The Goldman Sachs Group started coverage on Neurocrine Biosciences in a research report on Tuesday, June 2nd. They set a “buy” rating and a $213.00 price target for the company. Cantor Fitzgerald lifted their price objective on shares of Neurocrine Biosciences from $210.00 to $215.00 and gave the stock an “overweight” rating in a report on Friday, July 31st. Zacks Research lowered Neurocrine Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 4th. Finally, Citigroup upped their price target on shares of Neurocrine Biosciences from $246.00 to $249.00 and gave the company a “buy” rating in a research report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $200.86.

Neurocrine Biosciences 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.