Prosight Management LP Has $16.03 Million Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)
Prosight Management LP boosted its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX – Free Report) by 112.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 170,000 shares of the company’s stock after acquiring an additional 90,000 shares during the quarter. Neurocrine Biosciences makes up approximately 4.9% of Prosight Management LP’s holdings, making the stock its 8th biggest holding. Prosight Management LP owned about 0.17% of Neurocrine Biosciences worth $16,031,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Acadian Asset Management LLC bought a new stake in shares of Neurocrine Biosciences during the first quarter valued at approximately $27,000. KB Financial Partners LLC acquired a new position in Neurocrine Biosciences during the 1st quarter worth $32,000. Bessemer Group Inc. boosted its position in Neurocrine Biosciences by 755.0% in the 4th quarter. Bessemer Group Inc. now owns 342 shares of the company’s stock valued at $42,000 after buying an additional 302 shares during the last quarter. Covestor Ltd increased its stake in shares of Neurocrine Biosciences by 431.0% in the 1st quarter. Covestor Ltd now owns 377 shares of the company’s stock valued at $35,000 after buying an additional 306 shares during the period. Finally, Spire Wealth Management raised its position in shares of Neurocrine Biosciences by 203.2% during the first quarter. Spire Wealth Management now owns 379 shares of the company’s stock worth $38,000 after acquiring an additional 254 shares during the last quarter. Institutional investors and hedge funds own 93.54% of the company’s stock.
Neurocrine Biosciences Stock Up 0.5 %
Shares of NBIX stock traded up $0.53 during trading hours on Friday, hitting $117.12. 1,028,376 shares of the company’s stock traded hands, compared to its average volume of 669,513. The stock has a market cap of $11.51 billion, a PE ratio of 62.97, a price-to-earnings-growth ratio of 1.10 and a beta of 0.41. The stock’s 50 day simple moving average is $111.96 and its 200 day simple moving average is $104.73. Neurocrine Biosciences, Inc. has a 12 month low of $89.04 and a 12 month high of $127.44.
Neurocrine Biosciences (NASDAQ:NBIX – Get Free Report) last announced its earnings results on Tuesday, October 31st. The company reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.09). Neurocrine Biosciences had a return on equity of 10.54% and a net margin of 10.71%. The company had revenue of $498.80 million for the quarter, compared to the consensus estimate of $479.09 million. During the same period in the prior year, the business earned $0.69 earnings per share. The firm’s revenue for the quarter was up 28.6% on a year-over-year basis. As a group, equities research analysts expect that Neurocrine Biosciences, Inc. will post 2.14 EPS for the current fiscal year.
Insider Buying and Selling at Neurocrine Biosciences
In other news, insider Jude Onyia sold 2,331 shares of the company’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $113.57, for a total value of $264,731.67. Following the sale, the insider now directly owns 11,732 shares of the company’s stock, valued at approximately $1,332,403.24. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Neurocrine Biosciences news, insider David W. Boyer sold 1,437 shares of Neurocrine Biosciences stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $112.68, for a total value of $161,921.16. Following the completion of the sale, the insider now directly owns 4,894 shares in the company, valued at $551,455.92. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jude Onyia sold 2,331 shares of the business’s stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $113.57, for a total value of $264,731.67. Following the completion of the transaction, the insider now directly owns 11,732 shares in the company, valued at $1,332,403.24. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,687 shares of company stock valued at $2,227,629. 4.40% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
Several research firms recently issued reports on NBIX. Raymond James raised their price target on Neurocrine Biosciences from $135.00 to $145.00 and gave the company an “outperform” rating in a report on Wednesday, November 1st. Piper Sandler lifted their price target on shares of Neurocrine Biosciences from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 1st. Barclays increased their price objective on shares of Neurocrine Biosciences from $125.00 to $134.00 in a report on Thursday, September 21st. JPMorgan Chase & Co. lifted their target price on shares of Neurocrine Biosciences from $133.00 to $134.00 and gave the stock an “overweight” rating in a report on Wednesday, September 13th. Finally, Canaccord Genuity Group increased their price target on Neurocrine Biosciences from $132.00 to $144.00 and gave the company a “buy” rating in a research note on Wednesday, September 13th. Five research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $131.46.
Check Out Our Latest Analysis on NBIX
About Neurocrine Biosciences (Free Report)
Neurocrine Biosciences, Inc discovers, develops, and markets pharmaceuticals for neurological, endocrine, and psychiatric disorders. The company’s portfolio includes treatments for tardive dyskinesia, Parkinson’s disease, endometriosis, and uterine fibroids, as well as clinical programs in various therapeutic areas.
See Also
Want to see what other hedge funds are holding NBIX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Neurocrine Biosciences, Inc. (NASDAQ:NBIX – Free Report).
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