Lazard Asset Management LLC grew its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX – Get Rating) by 57.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,203 shares of the company’s stock after acquiring an additional 438 shares during the quarter. Lazard Asset Management LLC’s holdings in Neurocrine Biosciences were worth $127,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Meiji Yasuda Asset Management Co Ltd. raised its stake in shares of Neurocrine Biosciences by 1.9% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 6,430 shares of the company’s stock valued at $627,000 after acquiring an additional 120 shares during the period. Red Spruce Capital LLC grew its holdings in shares of Neurocrine Biosciences by 0.8% in the third quarter. Red Spruce Capital LLC now owns 15,203 shares of the company’s stock worth $1,615,000 after purchasing an additional 121 shares during the last quarter. Larson Financial Group LLC grew its holdings in shares of Neurocrine Biosciences by 6.7% in the third quarter. Larson Financial Group LLC now owns 1,940 shares of the company’s stock worth $206,000 after purchasing an additional 122 shares during the last quarter. MML Investors Services LLC grew its holdings in shares of Neurocrine Biosciences by 1.8% in the third quarter. MML Investors Services LLC now owns 7,092 shares of the company’s stock worth $753,000 after purchasing an additional 123 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC grew its holdings in shares of Neurocrine Biosciences by 1.3% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 11,303 shares of the company’s stock worth $1,102,000 after purchasing an additional 143 shares during the last quarter. Hedge funds and other institutional investors own 92.58% of the company’s stock.
Insider Activity at Neurocrine Biosciences
In related news, CEO Kevin Charles Gorman sold 2,707 shares of the stock in a transaction that occurred on Tuesday, January 31st. The shares were sold at an average price of $110.08, for a total value of $297,986.56. Following the completion of the transaction, the chief executive officer now directly owns 465,278 shares of the company’s stock, valued at approximately $51,217,802.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Kevin Charles Gorman sold 2,707 shares of the stock in a transaction that occurred on Tuesday, January 31st. The shares were sold at an average price of $110.08, for a total value of $297,986.56. Following the completion of the transaction, the chief executive officer now directly owns 465,278 shares of the company’s stock, valued at approximately $51,217,802.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Stephen A. Sherwin sold 30,000 shares of the stock in a transaction that occurred on Tuesday, January 3rd. The shares were sold at an average price of $118.86, for a total transaction of $3,565,800.00. Following the completion of the transaction, the director now directly owns 25,055 shares of the company’s stock, valued at $2,978,037.30. The disclosure for this sale can be found here. Insiders sold 69,749 shares of company stock valued at $7,706,823 in the last three months. 4.40% of the stock is owned by insiders.
Neurocrine Biosciences Stock Up 1.0 %
Neurocrine Biosciences (NASDAQ:NBIX – Get Rating) last announced its quarterly earnings data on Monday, February 6th. The company reported $1.24 EPS for the quarter, beating the consensus estimate of $1.15 by $0.09. The firm had revenue of $412.00 million during the quarter, compared to analyst estimates of $408.96 million. Neurocrine Biosciences had a net margin of 10.38% and a return on equity of 10.19%. Neurocrine Biosciences’s revenue was up 32.1% on a year-over-year basis. During the same period last year, the firm posted ($0.08) EPS. As a group, research analysts anticipate that Neurocrine Biosciences, Inc. will post 2.77 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
A number of research firms have recently commented on NBIX. HC Wainwright restated a “buy” rating and issued a $140.00 price target on shares of Neurocrine Biosciences in a report on Tuesday, February 7th. Cantor Fitzgerald cut their price target on shares of Neurocrine Biosciences from $132.00 to $127.00 and set an “overweight” rating on the stock in a report on Tuesday, February 7th. Morgan Stanley upgraded shares of Neurocrine Biosciences from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $120.00 to $130.00 in a report on Friday, February 3rd. Wells Fargo & Company dropped their target price on shares of Neurocrine Biosciences from $120.00 to $115.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 7th. Finally, Barclays dropped their target price on shares of Neurocrine Biosciences from $136.00 to $131.00 and set an “overweight” rating on the stock in a report on Tuesday, February 7th. Five analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Neurocrine Biosciences has an average rating of “Moderate Buy” and a consensus price target of $125.65.
Neurocrine Biosciences Profile
Neurocrine Biosciences, Inc is a neuroscience-focused, biopharmaceutical company. It discovers, develops, and intends to commercialize drugs for the treatment of neurological and endocrine related diseases and disorders. The company was founded by Kevin C. Gorman and Wylie W. Vale in January 1992 and is headquartered in San Diego, CA.
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