AlphaCrest Capital Management LLC purchased a new position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) during the 1st quarter, Holdings Channel reports. The fund purchased 5,154 shares of the company’s stock, valued at approximately $454,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. SG Americas Securities LLC raised its holdings in shares of Neurocrine Biosciences by 6.8% during the 1st quarter. SG Americas Securities LLC now owns 2,106 shares of the company’s stock worth $186,000 after acquiring an additional 135 shares during the period. JGP Global Gestao de Recursos Ltda. raised its holdings in Neurocrine Biosciences by 9.4% in the 1st quarter. JGP Global Gestao de Recursos Ltda. now owns 3,278 shares of the company’s stock valued at $289,000 after buying an additional 281 shares during the period. Nisa Investment Advisors LLC raised its holdings in Neurocrine Biosciences by 6.4% in the 1st quarter. Nisa Investment Advisors LLC now owns 5,965 shares of the company’s stock valued at $526,000 after buying an additional 358 shares during the period. Steinberg Global Asset Management raised its holdings in Neurocrine Biosciences by 2.7% in the 1st quarter. Steinberg Global Asset Management now owns 15,923 shares of the company’s stock valued at $1,403,000 after buying an additional 412 shares during the period. Finally, Chartwell Investment Partners LLC raised its holdings in Neurocrine Biosciences by 5.4% in the 1st quarter. Chartwell Investment Partners LLC now owns 8,107 shares of the company’s stock valued at $714,000 after buying an additional 413 shares during the period. Institutional investors and hedge funds own 96.14% of the company’s stock.
Shares of NASDAQ:NBIX opened at $82.36 on Wednesday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 8.61 and a current ratio of 8.79. The stock has a market cap of $7.54 billion, a price-to-earnings ratio of 374.36 and a beta of 1.45. Neurocrine Biosciences, Inc. has a 1 year low of $64.72 and a 1 year high of $126.98.
Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings results on Monday, April 29th. The company reported ($1.12) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.05) by ($0.07). The business had revenue of $138.40 million for the quarter, compared to analysts’ expectations of $136.77 million. Neurocrine Biosciences had a negative return on equity of 9.14% and a negative net margin of 7.56%. The firm’s revenue for the quarter was up 94.7% on a year-over-year basis. During the same quarter last year, the company earned ($0.47) earnings per share. Analysts anticipate that Neurocrine Biosciences, Inc. will post -0.08 EPS for the current fiscal year.
Several brokerages recently issued reports on NBIX. Guggenheim began coverage on shares of Neurocrine Biosciences in a report on Tuesday, June 4th. They issued a “neutral” rating and a $88.00 price objective on the stock. Credit Suisse Group began coverage on shares of Neurocrine Biosciences in a report on Monday, May 20th. They issued an “outperform” rating and a $95.00 price objective on the stock. BidaskClub upgraded shares of Neurocrine Biosciences from a “sell” rating to a “hold” rating in a report on Saturday, May 4th. Zacks Investment Research lowered shares of Neurocrine Biosciences from a “buy” rating to a “hold” rating in a report on Tuesday, April 30th. Finally, JPMorgan Chase & Co. upgraded shares of Neurocrine Biosciences from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $100.00 to $106.00 in a report on Monday, April 22nd. Six analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $102.16.
In other Neurocrine Biosciences news, insider Haig P. Bozigian sold 66,667 shares of the business’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $80.13, for a total transaction of $5,342,026.71. Following the sale, the insider now directly owns 164,415 shares in the company, valued at $13,174,573.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Haig P. Bozigian sold 3,435 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $85.51, for a total transaction of $293,726.85. Following the sale, the insider now owns 145,411 shares in the company, valued at $12,434,094.61. The disclosure for this sale can be found here. Insiders have sold 142,732 shares of company stock worth $11,388,472 over the last quarter. Insiders own 4.30% of the company’s stock.
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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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