PFM Health Sciences LP Makes New $102.65 Million Investment in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

PFM Health Sciences LP purchased a new position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,055,510 shares of the company’s stock, valued at approximately $102,648,000. Neurocrine Biosciences comprises 3.1% of PFM Health Sciences LP’s holdings, making the stock its 4th biggest holding. PFM Health Sciences LP owned approximately 1.12% of Neurocrine Biosciences at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in NBIX. Mercer Global Advisors Inc. ADV acquired a new position in Neurocrine Biosciences during the fourth quarter worth approximately $229,000. Public Employees Retirement System of Ohio increased its position in Neurocrine Biosciences by 23.9% during the fourth quarter. Public Employees Retirement System of Ohio now owns 45,204 shares of the company’s stock worth $4,333,000 after buying an additional 8,731 shares during the last quarter. LPL Financial LLC increased its position in Neurocrine Biosciences by 8.8% during the fourth quarter. LPL Financial LLC now owns 8,544 shares of the company’s stock worth $819,000 after buying an additional 690 shares during the last quarter. Stifel Financial Corp increased its position in Neurocrine Biosciences by 9.0% during the fourth quarter. Stifel Financial Corp now owns 30,965 shares of the company’s stock worth $2,968,000 after buying an additional 2,564 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Neurocrine Biosciences by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 474,521 shares of the company’s stock worth $45,483,000 after buying an additional 3,989 shares during the last quarter. 99.71% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities analysts have weighed in on NBIX shares. Wedbush lowered their price target on Neurocrine Biosciences from $112.00 to $107.00 in a research report on Thursday, May 6th. The Goldman Sachs Group started coverage on Neurocrine Biosciences in a report on Tuesday, May 18th. They set a “neutral” rating and a $108.00 price objective for the company. TheStreet cut Neurocrine Biosciences from a “b-” rating to a “c+” rating in a report on Monday, May 24th. Oppenheimer reduced their price objective on Neurocrine Biosciences from $145.00 to $140.00 in a report on Thursday, May 6th. Finally, Mizuho reduced their price objective on Neurocrine Biosciences from $119.00 to $116.00 and set a “neutral” rating for the company in a report on Monday, May 3rd. Seven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $123.24.

NBIX traded up $0.23 during trading on Thursday, hitting $97.91. 6,233 shares of the stock traded hands, compared to its average volume of 689,882. Neurocrine Biosciences, Inc. has a twelve month low of $86.02 and a twelve month high of $133.07. The firm has a market cap of $9.26 billion, a P/E ratio of 23.29 and a beta of 0.76. The company has a debt-to-equity ratio of 0.27, a quick ratio of 5.55 and a current ratio of 5.71. The business’s 50 day moving average is $96.96.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings data on Tuesday, May 4th. The company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.14). Neurocrine Biosciences had a net margin of 38.45% and a return on equity of 40.53%. The firm had revenue of $236.60 million for the quarter, compared to analyst estimates of $247.81 million. On average, analysts forecast that Neurocrine Biosciences, Inc. will post 2.27 EPS for the current year.

In other news, Director Gary A. Lyons sold 10,000 shares of the company’s stock in a transaction on Thursday, June 10th. The shares were sold at an average price of $100.27, for a total transaction of $1,002,700.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.30% of the stock is owned by insiders.

Neurocrine Biosciences Profile

Neurocrine Biosciences, Inc, a biopharmaceutical company, discovers, develops, and markets pharmaceutical products for the treatment of neurological, endocrine, and psychiatric-based diseases and disorders in the United States. The company offers INGREZZA, a VMAT2 inhibitor for the treatment of tardive dyskinesia; ONGENTYS, a catechol-O-methyltransferase inhibitor used as an adjunct therapy to levodopa/DOPA decarboxylase inhibitors for adult patients with Parkinson's disease; ORILISSA, a gonadotropin-releasing hormone (GnRH) antagonist for the treatment of endometriosis pain; and ORIAHNN, a GnRH antagonist for the management of heavy menstrual bleeding associated with uterine fibroids.

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

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