Neurocrine Biosciences, Inc. $NBIX Shares Acquired by Profund Advisors LLC

Profund Advisors LLC grew its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 52.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,173 shares of the company’s stock after acquiring an additional 5,539 shares during the period. Profund Advisors LLC’s holdings in Neurocrine Biosciences were worth $2,294,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new position in Neurocrine Biosciences in the 2nd quarter worth approximately $2,310,886,000. Bank of New York Mellon Corp purchased a new stake in shares of Neurocrine Biosciences during the second quarter valued at approximately $117,827,000. Ieq Capital LLC acquired a new position in shares of Neurocrine Biosciences during the second quarter worth $107,914,000. Bank of America Corp DE purchased a new position in shares of Neurocrine Biosciences in the second quarter valued at $104,382,000. Finally, Man Group plc acquired a new stake in Neurocrine Biosciences during the 2nd quarter valued at $101,293,000. 92.59% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CFO Matt Abernethy sold 2,311 shares of the stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $157.20, for a total value of $363,289.20. Following the completion of the transaction, the chief financial officer directly owned 42,808 shares in the company, valued at $6,729,417.60. This trade represents a 5.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider David Boyer sold 826 shares of the stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $157.45, for a total transaction of $130,053.70. Following the completion of the transaction, the insider owned 8,722 shares of the company’s stock, valued at $1,373,278.90. This trade represents a 8.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 4.60% of the company’s stock.

Neurocrine Biosciences Stock Performance

NASDAQ:NBIX opened at $146.10 on Monday. The stock has a market cap of $14.85 billion, a price-to-earnings ratio of 21.42, a PEG ratio of 0.64 and a beta of 0.36. Neurocrine Biosciences, Inc. has a 1 year low of $122.14 and a 1 year high of $186.12. The business has a fifty day moving average of $146.63 and a 200-day moving average of $147.39.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its earnings results on Friday, July 31st. The company reported $2.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.65 by $1.20. The firm had revenue of $959.00 million during the quarter, compared to analyst estimates of $891.16 million. Neurocrine Biosciences had a net margin of 20.91% and a return on equity of 22.43%. Neurocrine Biosciences’s revenue was up 39.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.65 EPS. On average, equities research analysts predict that Neurocrine Biosciences, Inc. will post 7.72 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Zacks Research cut Neurocrine Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 4th. Stifel Nicolaus increased their price target on shares of Neurocrine Biosciences from $188.00 to $215.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Wells Fargo & Company boosted their price objective on Neurocrine Biosciences from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, July 17th. Royal Bank Of Canada reissued an “outperform” rating and issued a $198.00 price objective on shares of Neurocrine Biosciences in a report on Tuesday, September 8th. Finally, Cantor Fitzgerald upped their price objective on Neurocrine Biosciences from $210.00 to $215.00 and gave the company an “overweight” rating in a research note 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 data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $201.14.

Neurocrine Biosciences Profile

Neurocrine Biosciences, Inc is a San Diego-based biopharmaceutical company focused on discovering, developing and commercializing medicines for neurological, neuroendocrine and psychiatric disorders. The company’s research programs target conditions in which treatments may address significant unmet medical needs.

Neurocrine’s leading product is INGREZZA (valbenazine), a vesicular monoamine transporter 2 inhibitor approved in the United States for the treatment of tardive dyskinesia and chorea associated with Huntington’s disease.