Fred Alger Management Inc. increased its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 547.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,730 shares of the company’s stock after purchasing an additional 31,905 shares during the period. Fred Alger Management Inc.’s holdings in Neurocrine Biosciences were worth $2,927,000 at the end of the most recent quarter.
Several other hedge funds have also recently modified their holdings of the stock. The Manufacturers Life Insurance Company grew its stake in shares of Neurocrine Biosciences by 7.8% during the second quarter. The Manufacturers Life Insurance Company now owns 2,665 shares of the company’s stock worth $123,000 after purchasing an additional 193 shares in the last quarter. State Board of Administration of Florida Retirement System grew its stake in shares of Neurocrine Biosciences by 0.7% during the third quarter. State Board of Administration of Florida Retirement System now owns 120,426 shares of the company’s stock worth $7,380,000 after purchasing an additional 810 shares in the last quarter. Amalgamated Bank grew its stake in shares of Neurocrine Biosciences by 5.7% during the fourth quarter. Amalgamated Bank now owns 17,484 shares of the company’s stock worth $1,357,000 after purchasing an additional 947 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Neurocrine Biosciences by 25.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,904 shares of the company’s stock valued at $458,000 after acquiring an additional 1,200 shares during the last quarter. Finally, Swiss National Bank lifted its position in Neurocrine Biosciences by 1.3% in the third quarter. Swiss National Bank now owns 147,300 shares of the company’s stock valued at $9,027,000 after acquiring an additional 1,900 shares during the last quarter.
In other news, insider Darin Lippoldt sold 15,237 shares of the company’s stock in a transaction dated Thursday, December 28th. The shares were sold at an average price of $75.00, for a total value of $1,142,775.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Haig P. Bozigian sold 75,873 shares of the company’s stock in a transaction dated Monday, March 5th. The shares were sold at an average price of $90.00, for a total transaction of $6,828,570.00. Following the completion of the sale, the insider now directly owns 18,041 shares of the company’s stock, valued at $1,623,690. The disclosure for this sale can be found here. Insiders sold 399,589 shares of company stock valued at $32,443,795 over the last ninety days. Corporate insiders own 4.80% of the company’s stock.
Neurocrine Biosciences (NASDAQ:NBIX) last announced its earnings results on Tuesday, February 13th. The company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.11). The firm had revenue of $94.52 million for the quarter, compared to analyst estimates of $94.00 million. During the same period last year, the firm earned ($0.51) earnings per share. analysts expect that Neurocrine Biosciences, Inc. will post -0.25 EPS for the current fiscal year.
A number of equities research analysts recently weighed in on the stock. Jefferies Group boosted their price target on shares of Neurocrine Biosciences to $105.00 and gave the company a “buy” rating in a research report on Friday, January 5th. JPMorgan Chase & Co. boosted their price target on shares of Neurocrine Biosciences from $79.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, February 14th. Barclays reissued an “overweight” rating and issued a $100.00 price target on shares of Neurocrine Biosciences in a research report on Wednesday, February 14th. Oppenheimer set a $110.00 price target on shares of Neurocrine Biosciences and gave the company a “buy” rating in a research report on Thursday, February 22nd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $110.00 price target (up from $95.00) on shares of Neurocrine Biosciences in a research report on Thursday, February 22nd. One research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $92.38.
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Neurocrine Biosciences Profile
Neurocrine Biosciences, Inc is engaged in discovering and developing pharmaceuticals, in diseases with unmet medical needs, through its research and development (R&D) platform, focused on neurological and endocrine based diseases and disorders. Its three lead late-stage clinical programs are elagolix, which is a gonadotropin-releasing hormone (GnRH) antagonist for endometriosis and uterine fibroids; INGREZZA (valbenazine), which is a vesicular monoamine transporter 2 (VMAT2) inhibitor, for the treatment of movement disorders, and opicapone, which is a selective catechol-O-methyltransferase inhibitor that is an adjunct therapy to preparations of levodopa/Dihydroxyphenylalanine (DOPA) decarboxylase inhibitors for adult patients with Parkinson’s disease.
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