Superstring Capital Management LP acquired a new position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 29,346 shares of the company's stock, valued at approximately $3,867,000. Neurocrine Biosciences accounts for approximately 2.8% of Superstring Capital Management LP's portfolio, making the stock its 11th largest position.
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Other institutional investors and hedge funds have also recently bought and sold shares of the company. FCF Advisors LLC acquired a new position in Neurocrine Biosciences during the fourth quarter worth $1,157,000. Norges Bank acquired a new position in Neurocrine Biosciences during the fourth quarter worth $35,731,000. abrdn plc grew its holdings in Neurocrine Biosciences by 2,503.0% during the fourth quarter. abrdn plc now owns 83,633 shares of the company's stock worth $11,019,000 after acquiring an additional 80,420 shares during the period. Redhawk Wealth Advisors Inc. acquired a new position in Neurocrine Biosciences during the fourth quarter worth $1,245,000. Finally, HealthInvest Partners AB purchased a new stake in Neurocrine Biosciences during the fourth quarter worth $1,662,000. Institutional investors and hedge funds own 92.59% of the company's stock.
Analysts Set New Price Targets
NBIX has been the topic of a number of research analyst reports. JPMorgan Chase & Co. boosted their target price on Neurocrine Biosciences from $148.00 to $158.00 and gave the stock an "overweight" rating in a research report on Wednesday, March 20th. Evercore ISI initiated coverage on Neurocrine Biosciences in a research report on Tuesday, May 14th. They issued an "outperform" rating and a $175.00 price objective on the stock. BMO Capital Markets upped their price objective on Neurocrine Biosciences from $129.00 to $138.00 and gave the company a "market perform" rating in a research report on Thursday, May 2nd. Cantor Fitzgerald restated an "overweight" rating and issued a $155.00 price objective on shares of Neurocrine Biosciences in a research report on Wednesday, April 10th. Finally, StockNews.com upgraded Neurocrine Biosciences from a "buy" rating to a "strong-buy" rating in a research report on Monday, June 3rd. Six investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $150.85.
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View Our Latest Report on Neurocrine Biosciences
Insider Activity
In other news, Director Stephen A. Sherwin sold 40,000 shares of the stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $133.46, for a total value of $5,338,400.00. Following the completion of the sale, the director now owns 26,504 shares in the company, valued at $3,537,223.84. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Stephen A. Sherwin sold 40,000 shares of the stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $133.46, for a total value of $5,338,400.00. Following the completion of the sale, the director now owns 26,504 shares in the company, valued at $3,537,223.84. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Shalini Sharp sold 1,106 shares of the stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $141.90, for a total value of $156,941.40. Following the completion of the sale, the director now owns 994 shares of the company's stock, valued at approximately $141,048.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 208,697 shares of company stock worth $28,731,215. 4.30% of the stock is currently owned by corporate insiders.
Neurocrine Biosciences Trading Down 0.2 %
NASDAQ:NBIX traded down $0.27 on Monday, hitting $134.70. 474,211 shares of the stock were exchanged, compared to its average volume of 830,027. The stock has a market cap of $13.56 billion, a PE ratio of 37.11 and a beta of 0.36. The stock has a fifty day moving average of $137.74 and a 200-day moving average of $134.11. Neurocrine Biosciences, Inc. has a fifty-two week low of $92.61 and a fifty-two week high of $148.37.
Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $0.42 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.62). The firm had revenue of $515.30 million for the quarter, compared to analyst estimates of $512.21 million. Neurocrine Biosciences had a return on equity of 17.45% and a net margin of 18.65%. As a group, analysts predict that Neurocrine Biosciences, Inc. will post 4.19 earnings per share for the current year.
Neurocrine Biosciences Company Profile
(Free Report)
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.
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