Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Shares Purchased by Van ECK Associates Corp

Van ECK Associates Corp raised its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 1,325.5% in the first quarter, Holdings Channel.com reports. The firm owned 92,243 shares of the company’s stock after buying an additional 85,772 shares during the period. Van ECK Associates Corp’s holdings in Neurocrine Biosciences were worth $12,722,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of NBIX. Caprock Group LLC bought a new position in Neurocrine Biosciences during the 1st quarter worth approximately $215,000. Allspring Global Investments Holdings LLC lifted its holdings in Neurocrine Biosciences by 23.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 506,666 shares of the company’s stock worth $69,879,000 after buying an additional 96,563 shares during the last quarter. Commonwealth Equity Services LLC lifted its holdings in shares of Neurocrine Biosciences by 0.6% in the 1st quarter. Commonwealth Equity Services LLC now owns 13,941 shares of the company’s stock worth $1,923,000 after purchasing an additional 84 shares during the last quarter. Summit Global Investments lifted its holdings in shares of Neurocrine Biosciences by 21.5% in the 1st quarter. Summit Global Investments now owns 49,477 shares of the company’s stock worth $6,824,000 after purchasing an additional 8,744 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. lifted its holdings in shares of Neurocrine Biosciences by 68.5% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 19,148 shares of the company’s stock worth $2,641,000 after purchasing an additional 7,784 shares during the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

Neurocrine Biosciences Price Performance

Shares of NBIX traded up $0.08 during midday trading on Friday, hitting $138.31. The stock had a trading volume of 203,797 shares, compared to its average volume of 827,936. The company has a 50 day simple moving average of $137.41 and a two-hundred day simple moving average of $136.09. Neurocrine Biosciences, Inc. has a twelve month low of $93.28 and a twelve month high of $148.37. The firm has a market cap of $13.92 billion, a price-to-earnings ratio of 38.09 and a beta of 0.37.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.62). Neurocrine Biosciences had a net margin of 18.65% and a return on equity of 17.45%. The firm had revenue of $515.30 million during the quarter, compared to analyst estimates of $512.21 million. Analysts forecast that Neurocrine Biosciences, Inc. will post 4.22 EPS for the current fiscal year.

Insider Buying and Selling at Neurocrine Biosciences

In other news, Director Stephen A. Sherwin sold 40,000 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $133.46, for a total value of $5,338,400.00. Following the completion of the transaction, the director now owns 26,504 shares in the company, valued at approximately $3,537,223.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Eric Benevich sold 19,818 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $133.36, for a total transaction of $2,642,928.48. Following the completion of the sale, the insider now owns 40,778 shares in the company, valued at $5,438,154.08. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Stephen A. Sherwin sold 40,000 shares of Neurocrine Biosciences stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $133.46, for a total transaction of $5,338,400.00. Following the completion of the sale, the director now owns 26,504 shares of the company’s stock, valued at $3,537,223.84. The disclosure for this sale can be found here. Insiders have sold 98,697 shares of company stock valued at $13,377,515 in the last 90 days. 4.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Evercore ISI assumed coverage on Neurocrine Biosciences in a report on Tuesday, May 14th. They issued an “outperform” rating and a $175.00 price target on the stock. Canaccord Genuity Group raised their price target on Neurocrine Biosciences from $154.00 to $164.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Citigroup raised their price target on Neurocrine Biosciences from $140.00 to $150.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. Morgan Stanley reissued an “overweight” rating and issued a $160.00 price target on shares of Neurocrine Biosciences in a report on Wednesday, June 12th. Finally, Barclays raised their target price on Neurocrine Biosciences from $150.00 to $169.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. Six analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Neurocrine Biosciences presently has an average rating of “Moderate Buy” and an average price target of $152.00.

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.