M&G Plc Acquires New Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

M&G Plc acquired a new stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 69,026 shares of the company’s stock, valued at approximately $9,526,000. M&G Plc owned approximately 0.07% of Neurocrine Biosciences as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NBIX. Vestal Point Capital LP acquired a new position in Neurocrine Biosciences during the 4th quarter worth approximately $105,408,000. Los Angeles Capital Management LLC grew its holdings in Neurocrine Biosciences by 66.0% during the 4th quarter. Los Angeles Capital Management LLC now owns 918,391 shares of the company’s stock worth $121,007,000 after acquiring an additional 364,986 shares in the last quarter. Norges Bank acquired a new position in Neurocrine Biosciences during the 4th quarter worth approximately $35,731,000. Allspring Global Investments Holdings LLC grew its holdings in Neurocrine Biosciences by 81.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 410,103 shares of the company’s stock worth $54,035,000 after acquiring an additional 184,660 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in Neurocrine Biosciences by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 9,710,328 shares of the company’s stock worth $1,279,433,000 after acquiring an additional 150,485 shares in the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

Insider Transactions at Neurocrine Biosciences

In other news, CFO Matt Abernethy sold 15,000 shares of the stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $140.24, for a total transaction of $2,103,600.00. Following the transaction, the chief financial officer now directly owns 31,528 shares in the company, valued at approximately $4,421,486.72. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CFO Matt Abernethy sold 15,000 shares of the stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $140.24, for a total transaction of $2,103,600.00. Following the transaction, the chief financial officer now directly owns 31,528 shares in the company, valued at approximately $4,421,486.72. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Ingrid Delaet sold 273 shares of the stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $140.55, for a total transaction of $38,370.15. Following the transaction, the insider now owns 7,507 shares in the company, valued at $1,055,108.85. The disclosure for this sale can be found here. Insiders have sold a total of 80,709 shares of company stock worth $11,009,150 in the last three months. Company insiders own 4.30% of the company’s stock.

Neurocrine Biosciences Price Performance

NASDAQ:NBIX traded up $1.55 on Friday, reaching $145.69. The stock had a trading volume of 600,042 shares, compared to its average volume of 759,271. The company has a market cap of $14.66 billion, a price-to-earnings ratio of 40.13 and a beta of 0.37. The firm’s fifty day moving average is $138.59 and its two-hundred day moving average is $137.49. Neurocrine Biosciences, Inc. has a 12-month low of $96.67 and a 12-month high of $150.39.

Neurocrine Biosciences (NASDAQ:NBIX) last released its earnings results on Wednesday, May 1st. The company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.62). The firm had revenue of $515.30 million during 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, research analysts forecast that Neurocrine Biosciences, Inc. will post 4.2 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

NBIX has been the subject of several recent analyst reports. StockNews.com upgraded shares of Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a research report on Friday. Wells Fargo & Company upgraded shares of Neurocrine Biosciences from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $140.00 to $170.00 in a research report on Wednesday, April 24th. Wedbush reiterated an “outperform” rating and issued a $152.00 price target on shares of Neurocrine Biosciences in a research report on Wednesday, May 29th. HC Wainwright upped their price objective on shares of Neurocrine Biosciences from $150.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Finally, BMO Capital Markets upped their price target on shares of Neurocrine Biosciences from $129.00 to $138.00 and gave the stock a “market perform” rating in a research note on Thursday, May 2nd. Six equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued 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 $152.96.

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.