Principal Financial Group Inc. lifted its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 1.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 333,739 shares of the company’s stock after acquiring an additional 5,912 shares during the quarter. Principal Financial Group Inc. owned approximately 0.35% of Neurocrine Biosciences worth $32,480,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently modified their holdings of the company. KB Financial Partners LLC bought a new stake in Neurocrine Biosciences in the first quarter worth approximately $43,000. Credit Agricole S A bought a new stake in Neurocrine Biosciences in the first quarter worth approximately $49,000. Truvestments Capital LLC increased its holdings in Neurocrine Biosciences by 178.1% in the first quarter. Truvestments Capital LLC now owns 773 shares of the company’s stock worth $75,000 after purchasing an additional 495 shares in the last quarter. Bessemer Group Inc. bought a new stake in Neurocrine Biosciences in the first quarter worth approximately $96,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Neurocrine Biosciences in the first quarter worth approximately $97,000. Institutional investors own 95.99% of the company’s stock.
A number of brokerages have commented on NBIX. Canaccord Genuity cut Neurocrine Biosciences from a “buy” rating to a “hold” rating and reduced their price objective for the company from $122.00 to $108.00 in a research note on Friday, August 6th. Zacks Investment Research raised Neurocrine Biosciences from a “sell” rating to a “hold” rating in a research note on Wednesday, August 18th. HC Wainwright reissued a “buy” rating and issued a $140.00 price objective on shares of Neurocrine Biosciences in a research note on Friday, July 16th. Finally, Morgan Stanley reduced their price objective on Neurocrine Biosciences from $116.00 to $110.00 and set an “overweight” rating for the company in a research note on Wednesday, August 4th. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $119.60.
Neurocrine Biosciences (NASDAQ:NBIX) last issued its earnings results on Monday, August 2nd. The company reported $0.43 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by ($0.09). The firm had revenue of $288.90 million during the quarter, compared to the consensus estimate of $274.47 million. Neurocrine Biosciences had a net margin of 35.34% and a return on equity of 33.04%. As a group, analysts forecast that Neurocrine Biosciences, Inc. will post 1.89 earnings per share for the current fiscal year.
In related news, insider Malcolm Lloyd-Smith sold 16,709 shares of the business’s stock in a transaction on Tuesday, July 27th. The stock was sold at an average price of $93.80, for a total transaction of $1,567,304.20. Following the sale, the insider now directly owns 15,801 shares in the company, valued at approximately $1,482,133.80. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Eric Benevich sold 5,628 shares of the business’s stock in a transaction on Monday, August 16th. The shares were sold at an average price of $89.62, for a total value of $504,381.36. The disclosure for this sale can be found here. Insiders own 4.30% of the company’s stock.
Neurocrine Biosciences Profile
Neurocrine Biosciences, Inc is a neuroscience-focused, biopharmaceutical company. It discovers, develops and intends to commercialize drugs for the treatment of neurological and endocrine related diseases and disorders. The firm’s product includes INGREZZA. The company was founded by Kevin C. Gorman and Wylie W.
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