Vontobel Holding Ltd. Raises Stock Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Vontobel Holding Ltd. raised its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 12.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,590 shares of the company’s stock after purchasing an additional 1,639 shares during the period. Vontobel Holding Ltd.’s holdings in Neurocrine Biosciences were worth $1,681,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Sumitomo Mitsui Trust Holdings Inc. grew its position in Neurocrine Biosciences by 3.5% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 252,565 shares of the company’s stock worth $34,834,000 after buying an additional 8,630 shares in the last quarter. Van ECK Associates Corp increased 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 during the last quarter. Twin Tree Management LP increased its position in shares of 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 purchasing an additional 7,136 shares during the last quarter. Redwood Investment Management LLC purchased a new stake in Neurocrine Biosciences in the first quarter valued at approximately $642,000. Finally, Forsta AP Fonden raised its stake in Neurocrine Biosciences by 94.3% in the first quarter. Forsta AP Fonden now owns 34,200 shares of the company’s stock valued at $4,717,000 after purchasing an additional 16,600 shares in the last quarter. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Neurocrine Biosciences Stock Performance

NBIX opened at $118.01 on Friday. The stock has a market capitalization of $11.88 billion, a PE ratio of 32.51 and a beta of 0.36. The stock’s 50 day moving average price is $126.01 and its 200-day moving average price is $134.80. Neurocrine Biosciences, Inc. has a 52-week low of $103.63 and a 52-week high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.52). Neurocrine Biosciences had a net margin of 16.00% and a return on equity of 14.86%. The company had revenue of $590.20 million for the quarter, compared to analysts’ expectations of $545.98 million. During the same period in the previous year, the firm posted $0.95 earnings per share. The firm’s revenue for the quarter was up 30.4% compared to the same quarter last year. Research analysts forecast that Neurocrine Biosciences, Inc. will post 4.19 EPS for the current fiscal year.

Insider Buying and Selling

In other Neurocrine Biosciences news, Director William H. Rastetter sold 14,250 shares of Neurocrine Biosciences stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $146.69, for a total transaction of $2,090,332.50. Following the sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Neurocrine Biosciences news, insider Ingrid Delaet sold 7,143 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $150.10, for a total transaction of $1,072,164.30. Following the completion of the transaction, the insider now owns 2,507 shares of the company’s stock, valued at approximately $376,300.70. 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 accessible through this link. Also, Director William H. Rastetter sold 14,250 shares of the business’s stock in a transaction that occurred 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 sale, the director now directly owns 37,491 shares in the company, valued at approximately $5,499,554.79. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 59,968 shares of company stock valued at $8,999,632 over the last three months. Corporate insiders own 4.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on NBIX. Raymond James reissued an “outperform” rating and issued a $155.00 price target on shares of Neurocrine Biosciences in a report on Thursday, October 10th. Barclays reduced their target price on Neurocrine Biosciences from $180.00 to $160.00 and set an “overweight” rating on the stock in a research note on Monday, September 9th. Royal Bank of Canada dropped their price target on Neurocrine Biosciences from $136.00 to $133.00 and set a “sector perform” rating for the company in a research note on Friday, October 4th. Needham & Company LLC reiterated a “hold” rating on shares of Neurocrine Biosciences in a report on Thursday, August 29th. Finally, StockNews.com raised Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a report on Sunday, August 4th. Five investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Neurocrine Biosciences currently has an average rating of “Moderate Buy” and a consensus target price of $163.91.

Neurocrine Biosciences Company 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.