Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Position Increased by Raymond James & Associates

Raymond James & Associates raised its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 4.3% in the third quarter, Holdings Channel.com reports. The institutional investor owned 62,446 shares of the company’s stock after buying an additional 2,552 shares during the period. Raymond James & Associates’ holdings in Neurocrine Biosciences were worth $7,195,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of Neurocrine Biosciences by 3.5% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 252,565 shares of the company’s stock worth $34,834,000 after purchasing an additional 8,630 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of Neurocrine Biosciences by 1,325.5% in the first quarter. Van ECK Associates Corp now owns 92,243 shares of the company’s stock worth $12,722,000 after purchasing an additional 85,772 shares in the last quarter. Twin Tree Management LP increased its holdings in Neurocrine Biosciences by 59.4% in the first quarter. Twin Tree Management LP now owns 19,147 shares of the company’s stock worth $2,641,000 after buying an additional 7,136 shares during the last quarter. Redwood Investment Management LLC acquired a new position in Neurocrine Biosciences in the first quarter worth approximately $642,000. Finally, Forsta AP Fonden increased its holdings in Neurocrine Biosciences by 94.3% in the first quarter. Forsta AP Fonden now owns 34,200 shares of the company’s stock worth $4,717,000 after buying an additional 16,600 shares during the last quarter. 92.59% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on NBIX shares. Jefferies Financial Group increased their price objective on Neurocrine Biosciences from $177.00 to $189.00 and gave the stock a “buy” rating in a report on Monday, August 19th. StockNews.com upgraded Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a report on Sunday, August 4th. Cantor Fitzgerald restated an “overweight” rating and issued a $155.00 price objective on shares of Neurocrine Biosciences in a report on Monday, September 16th. Robert W. Baird increased their price objective on Neurocrine Biosciences from $157.00 to $180.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Finally, Raymond James reiterated an “outperform” rating and set a $155.00 price target on shares of Neurocrine Biosciences in a report on Thursday, October 10th. Five analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $163.91.

Insider Buying and Selling

In related news, Director William H. Rastetter sold 14,250 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $146.69, for a total value of $2,090,332.50. Following the completion of the transaction, the director now directly owns 37,491 shares of the company’s stock, valued at $5,499,554.79. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Neurocrine Biosciences news, insider Ingrid Delaet sold 273 shares of Neurocrine Biosciences stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $147.70, for a total transaction of $40,322.10. Following the completion of the transaction, the insider now directly owns 6,607 shares of the company’s stock, valued at approximately $975,853.90. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William H. Rastetter sold 14,250 shares of Neurocrine Biosciences stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $146.69, for a total value 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 disclosure for this sale can be found here. Insiders sold a total of 47,336 shares of company stock valued at $7,063,652 over the last ninety days. 4.30% of the stock is owned by company insiders.

Neurocrine Biosciences Trading Up 7.0 %

Shares of Neurocrine Biosciences stock opened at $124.33 on Thursday. The company’s fifty day simple moving average is $121.02 and its 200-day simple moving average is $133.65. The company has a market cap of $12.55 billion, a price-to-earnings ratio of 37.56 and a beta of 0.36. Neurocrine Biosciences, Inc. has a 1 year low of $103.63 and a 1 year high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its earnings results on Thursday, August 1st. The company reported $0.63 EPS for the quarter, missing the consensus estimate of $1.15 by ($0.52). The firm had revenue of $590.20 million during the quarter, compared to the consensus estimate of $545.98 million. Neurocrine Biosciences had a return on equity of 14.86% and a net margin of 16.00%. The firm’s revenue for the quarter was up 30.4% compared to the same quarter last year. During the same period last year, the business earned $0.95 earnings per share. As a group, research analysts forecast that Neurocrine Biosciences, Inc. will post 4.37 earnings per share for the current fiscal year.

Neurocrine Biosciences 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.