GAMMA Investing LLC Acquires 185 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

GAMMA Investing LLC grew its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 11.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,738 shares of the company’s stock after acquiring an additional 185 shares during the period. GAMMA Investing LLC’s holdings in Neurocrine Biosciences were worth $200,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in NBIX. Perceptive Advisors LLC boosted its stake in Neurocrine Biosciences by 70.1% in the 4th quarter. Perceptive Advisors LLC now owns 270,794 shares of the company’s stock worth $35,680,000 after purchasing an additional 111,552 shares during the period. Vanguard Group Inc. boosted its position in shares of Neurocrine Biosciences by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 9,710,328 shares of the company’s stock valued at $1,279,433,000 after acquiring an additional 150,485 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Neurocrine Biosciences during the fourth quarter valued at approximately $9,355,000. HighPoint Advisor Group LLC bought a new stake in Neurocrine Biosciences during the 4th quarter worth approximately $352,000. Finally, Kapitalo Investimentos Ltda purchased a new stake in Neurocrine Biosciences in the 4th quarter worth approximately $66,000. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Neurocrine Biosciences

In other Neurocrine Biosciences news, Director William H. Rastetter sold 14,250 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $146.69, for a total transaction of $2,090,332.50. Following the completion of the transaction, the director now owns 37,491 shares of the company’s stock, valued at $5,499,554.79. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director William H. Rastetter sold 14,250 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $146.69, for a total transaction of $2,090,332.50. Following the transaction, the director now directly owns 37,491 shares of the company’s stock, valued at approximately $5,499,554.79. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Matt Abernethy sold 14,100 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $150.38, for a total value of $2,120,358.00. Following the completion of the sale, the chief financial officer now directly owns 31,528 shares of the company’s stock, valued at $4,741,180.64. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 61,798 shares of company stock worth $9,274,196. Company insiders own 4.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on NBIX. Royal Bank of Canada reduced their price target on shares of Neurocrine Biosciences from $136.00 to $133.00 and set a “sector perform” rating for the company in a research report on Friday, October 4th. Citigroup boosted their target price on Neurocrine Biosciences from $150.00 to $158.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Guggenheim raised their price target on Neurocrine Biosciences from $170.00 to $180.00 and gave the company a “buy” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. boosted their price objective on Neurocrine Biosciences from $173.00 to $181.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Finally, Oppenheimer raised their target price on shares of Neurocrine Biosciences from $216.00 to $219.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Five equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $164.52.

Neurocrine Biosciences Stock Performance

Shares of NBIX stock opened at $115.49 on Friday. Neurocrine Biosciences, Inc. has a fifty-two week low of $103.63 and a fifty-two week high of $157.98. The company has a market capitalization of $11.62 billion, a P/E ratio of 31.82 and a beta of 0.36. The stock has a 50 day moving average price of $129.62 and a two-hundred day moving average price of $135.74.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $1.15 by ($0.52). Neurocrine Biosciences had a net margin of 16.00% and a return on equity of 14.86%. The firm had revenue of $590.20 million for the quarter, compared to analysts’ expectations of $545.98 million. During the same period in the previous year, the company earned $0.95 EPS. The company’s quarterly revenue was up 30.4% on a year-over-year basis. As a group, equities analysts predict that Neurocrine Biosciences, Inc. will post 4.19 earnings per share for the current year.

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.