AQR Capital Management LLC lowered its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 28.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 147,697 shares of the company’s stock after selling 57,577 shares during the period. AQR Capital Management LLC’s holdings in Neurocrine Biosciences were worth $5,716,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. First Mercantile Trust Co. boosted its position in shares of Neurocrine Biosciences by 94.9% in the third quarter. First Mercantile Trust Co. now owns 3,897 shares of the company’s stock valued at $197,000 after buying an additional 1,897 shares in the last quarter. Opus Point Partners Management LLC bought a new position in shares of Neurocrine Biosciences during the third quarter valued at $206,000. Two Sigma Securities LLC bought a new position in shares of Neurocrine Biosciences during the third quarter valued at $212,000. Fox Run Management L.L.C. bought a new position in shares of Neurocrine Biosciences during the third quarter valued at $218,000. Finally, SECOR Capital Advisors LP bought a new position in shares of Neurocrine Biosciences during the third quarter valued at $260,000. Institutional investors and hedge funds own 97.60% of the company’s stock.
Neurocrine Biosciences, Inc. (NASDAQ:NBIX) opened at 44.50 on Monday. Neurocrine Biosciences, Inc. has a 12-month low of $32.91 and a 12-month high of $55.15. The company has a 50-day moving average price of $43.78 and a 200-day moving average price of $45.46. The firm’s market capitalization is $3.88 billion.
Neurocrine Biosciences (NASDAQ:NBIX) last issued its earnings results on Tuesday, February 14th. The company reported ($0.51) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.56) by $0.05. During the same quarter in the previous year, the firm earned ($0.34) earnings per share. On average, analysts predict that Neurocrine Biosciences, Inc. will post ($2.28) earnings per share for the current year.
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Several brokerages have recently weighed in on NBIX. Piper Jaffray Companies restated an “overweight” rating and set a $96.00 target price on shares of Neurocrine Biosciences in a report on Wednesday, December 7th. Cowen and Company set a $65.00 target price on Neurocrine Biosciences and gave the stock a “buy” rating in a report on Wednesday, January 18th. BMO Capital Markets restated an “outperform” rating and set a $72.00 target price on shares of Neurocrine Biosciences in a report on Thursday, January 19th. Robert W. Baird restated a “buy” rating and set a $66.00 target price on shares of Neurocrine Biosciences in a report on Sunday, January 8th. Finally, Needham & Company LLC restated a “buy” rating and set a $62.00 target price on shares of Neurocrine Biosciences in a report on Thursday, February 16th. One analyst has rated the stock with a sell rating, one has issued a hold rating and fifteen have assigned a buy rating to the company’s stock. Neurocrine Biosciences currently has a consensus rating of “Buy” and an average target price of $67.00.
In other news, insider Haig P. Bozigian sold 1,625 shares of the firm’s stock in a transaction that occurred on Tuesday, January 17th. The shares were sold at an average price of $40.63, for a total transaction of $66,023.75. Following the completion of the transaction, the insider now directly owns 114,704 shares of the company’s stock, valued at approximately $4,660,423.52. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Dimitri E. Grigoriadis sold 727 shares of the firm’s stock in a transaction that occurred on Monday, February 6th. The stock was sold at an average price of $43.13, for a total transaction of $31,355.51. Following the transaction, the insider now directly owns 115,756 shares of the company’s stock, valued at $4,992,556.28. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,816 shares of company stock valued at $1,387,036. 4.80% of the stock is currently owned by corporate insiders.
About Neurocrine Biosciences
Neurocrine Biosciences, Inc is engaged in discovering and developing pharmaceuticals, in diseases with unmet medical needs, through its research and development (R&D) platform, focused on neurological and endocrine based diseases and disorders. Its three lead late-stage clinical programs are elagolix, which is a gonadotropin-releasing hormone (GnRH) antagonist for endometriosis and uterine fibroids; INGREZZA (valbenazine), which is a vesicular monoamine transporter 2 (VMAT2) inhibitor, for the treatment of movement disorders, and opicapone, which is a selective catechol-O-methyltransferase inhibitor that is an adjunct therapy to preparations of levodopa/Dihydroxyphenylalanine (DOPA) decarboxylase inhibitors for adult patients with Parkinson’s disease.
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