New York Life Investment Management LLC Grows Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

New York Life Investment Management LLC raised its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 2.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,183 shares of the company’s stock after purchasing an additional 315 shares during the quarter. New York Life Investment Management LLC’s holdings in Neurocrine Biosciences were worth $1,473,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Headinvest LLC bought a new stake in shares of Neurocrine Biosciences during the 3rd quarter worth approximately $28,000. Lindbrook Capital LLC lifted its position in shares of Neurocrine Biosciences by 85.0% during the fourth quarter. Lindbrook Capital LLC now owns 209 shares of the company’s stock worth $28,000 after purchasing an additional 96 shares during the last quarter. BluePath Capital Management LLC purchased a new stake in shares of Neurocrine Biosciences during the third quarter valued at $35,000. Sunbelt Securities Inc. grew its holdings in shares of Neurocrine Biosciences by 34.3% in the third quarter. Sunbelt Securities Inc. now owns 325 shares of the company’s stock worth $37,000 after purchasing an additional 83 shares during the last quarter. Finally, Fifth Third Bancorp increased its stake in Neurocrine Biosciences by 51.3% in the 3rd quarter. Fifth Third Bancorp now owns 622 shares of the company’s stock worth $70,000 after buying an additional 211 shares during the period. Institutional investors own 92.59% of the company’s stock.

Neurocrine Biosciences Stock Up 0.7 %

NBIX stock opened at $141.71 on Tuesday. Neurocrine Biosciences, Inc. has a 52 week low of $89.04 and a 52 week high of $148.37. The stock has a market capitalization of $14.26 billion, a PE ratio of 39.04 and a beta of 0.28. The firm has a 50 day moving average of $137.49 and a 200 day moving average of $129.22.

Neurocrine Biosciences (NASDAQ:NBIX) last released its earnings results on Wednesday, February 7th. The company reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.31. Neurocrine Biosciences had a return on equity of 17.45% and a net margin of 18.65%. The firm had revenue of $515.20 million for the quarter, compared to the consensus estimate of $518.52 million. During the same period in the prior year, the firm earned $0.88 EPS. The firm’s revenue was up 25.0% on a year-over-year basis. On average, equities research analysts expect that Neurocrine Biosciences, Inc. will post 4.78 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on NBIX shares. Canaccord Genuity Group boosted their price objective on shares of Neurocrine Biosciences from $154.00 to $164.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Wells Fargo & Company raised Neurocrine Biosciences from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $140.00 to $170.00 in a research note on Wednesday, April 24th. Mizuho lifted their target price on Neurocrine Biosciences from $116.00 to $140.00 and gave the company a “neutral” rating in a research report on Thursday, February 8th. Oppenheimer raised their price target on Neurocrine Biosciences from $200.00 to $216.00 and gave the company an “outperform” rating in a research note on Thursday, May 2nd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $155.00 price objective on shares of Neurocrine Biosciences in a research note on Wednesday, April 10th. Six investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $147.88.

Insider Buying and Selling

In other Neurocrine Biosciences news, insider Eric Benevich sold 19,818 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $133.36, for a total transaction of $2,642,928.48. Following the completion of the transaction, the insider now directly owns 40,778 shares of the company’s stock, valued at approximately $5,438,154.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Neurocrine Biosciences news, insider Eric Benevich sold 19,818 shares of Neurocrine Biosciences stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $133.36, for a total transaction of $2,642,928.48. Following the completion of the transaction, the insider now owns 40,778 shares in the company, valued at approximately $5,438,154.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ingrid Delaet sold 5,000 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $145.06, for a total value of $725,300.00. Following the completion of the sale, the insider now owns 7,507 shares in the company, valued at approximately $1,088,965.42. The disclosure for this sale can be found here. Insiders sold 176,771 shares of company stock valued at $24,360,922 over the last quarter. 4.30% of the stock is currently owned by company insiders.

Neurocrine Biosciences Company Profile

Neurocrine Biosciences, Inc discovers, develops, and markets pharmaceuticals for neurological, neuroendocrine, and neuropsychiatric disorders in the United States and internationally. The company's products include INGREZZA for tardive dyskinesia and chorea associated with Huntington's disease; ALKINDI for adrenal insufficiency; Efmody capsules for classic congenital adrenal hyperplasia; Orilissa tablets for endometriosis; and Oriahnn capsules to treat uterine fibroids.