Mediolanum International Funds Ltd Makes New $1.35 Million Investment in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Mediolanum International Funds Ltd acquired a new position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 9,804 shares of the company’s stock, valued at approximately $1,351,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. BI Asset Management Fondsmaeglerselskab A S lifted its stake in shares of Neurocrine Biosciences by 33.4% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 4,937 shares of the company’s stock valued at $681,000 after purchasing an additional 1,235 shares during the period. Central Pacific Bank Trust Division purchased a new position in shares of Neurocrine Biosciences in the 1st quarter valued at approximately $891,000. Daiwa Securities Group Inc. lifted its stake in shares of Neurocrine Biosciences by 32.5% in the 1st quarter. Daiwa Securities Group Inc. now owns 8,590 shares of the company’s stock valued at $1,185,000 after purchasing an additional 2,109 shares during the period. Fidelis Capital Partners LLC bought a new position in Neurocrine Biosciences during the 1st quarter valued at approximately $99,000. Finally, Tokio Marine Asset Management Co. Ltd. raised its stake in Neurocrine Biosciences by 23.2% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,755 shares of the company’s stock valued at $518,000 after buying an additional 707 shares during the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Insider Activity at Neurocrine Biosciences

In other Neurocrine Biosciences news, Director Shalini Sharp sold 1,106 shares of Neurocrine Biosciences stock in a transaction on Friday, May 17th. The shares were sold at an average price of $141.90, for a total value of $156,941.40. Following the completion of the transaction, the director now directly owns 994 shares of the company’s stock, valued at approximately $141,048.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Matt Abernethy sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $140.24, for a total value of $2,103,600.00. Following the completion of the sale, the chief financial officer now owns 31,528 shares in the company, valued at approximately $4,421,486.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Shalini Sharp sold 1,106 shares of Neurocrine Biosciences stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $141.90, for a total transaction of $156,941.40. Following the sale, the director now owns 994 shares of the company’s stock, valued at approximately $141,048.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 98,697 shares of company stock valued at $13,377,515. Corporate insiders own 4.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on NBIX shares. Barclays increased their price target on shares of Neurocrine Biosciences from $150.00 to $169.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. UBS Group increased their price objective on shares of Neurocrine Biosciences from $174.00 to $193.00 and gave the company a “buy” rating in a research report on Tuesday, May 28th. Wells Fargo & Company upgraded shares of Neurocrine Biosciences from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $140.00 to $170.00 in a research report on Wednesday, April 24th. Canaccord Genuity Group increased their price objective on shares of Neurocrine Biosciences from $154.00 to $164.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Finally, JPMorgan Chase & Co. increased their price objective on shares of Neurocrine Biosciences from $169.00 to $173.00 and gave the company an “overweight” rating in a research report on Wednesday. Six investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $152.58.

Neurocrine Biosciences Stock Performance

Shares of NASDAQ NBIX traded up $3.82 during midday trading on Wednesday, reaching $147.12. The stock had a trading volume of 799,787 shares, compared to its average volume of 826,002. The company has a market capitalization of $14.81 billion, a price-to-earnings ratio of 40.53 and a beta of 0.37. The stock has a 50-day moving average of $137.74 and a 200-day moving average of $136.76. Neurocrine Biosciences, Inc. has a 12-month low of $94.16 and a 12-month high of $148.37.

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

About Neurocrine Biosciences

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.