Magnetar Financial LLC Acquires New Holdings in Neurocrine Biosciences, Inc. $NBIX

Magnetar Financial LLC acquired a new position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 34,071 shares of the company’s stock, valued at approximately $4,783,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Golden State Wealth Management LLC increased its stake in Neurocrine Biosciences by 120.5% during the 3rd quarter. Golden State Wealth Management LLC now owns 183 shares of the company’s stock valued at $26,000 after buying an additional 100 shares during the period. Eastern Bank bought a new stake in shares of Neurocrine Biosciences during the 3rd quarter worth about $27,000. Geneos Wealth Management Inc. lifted its stake in shares of Neurocrine Biosciences by 143.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock worth $25,000 after acquiring an additional 135 shares during the period. Quent Capital LLC bought a new position in shares of Neurocrine Biosciences in the third quarter valued at approximately $32,000. Finally, MAI Capital Management boosted its holdings in shares of Neurocrine Biosciences by 101.2% in the second quarter. MAI Capital Management now owns 328 shares of the company’s stock valued at $41,000 after acquiring an additional 165 shares in the last quarter. Institutional investors own 92.59% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Zacks Research cut Neurocrine Biosciences from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 17th. HC Wainwright decreased their price target on Neurocrine Biosciences from $198.00 to $192.00 and set a “buy” rating for the company in a research note on Thursday, February 12th. JPMorgan Chase & Co. lowered their price target on Neurocrine Biosciences from $177.00 to $176.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 17th. Stifel Nicolaus boosted their price objective on Neurocrine Biosciences from $183.00 to $188.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th. Finally, BMO Capital Markets cut their price objective on Neurocrine Biosciences from $147.00 to $140.00 and set a “market perform” rating for the company in a report on Thursday, February 12th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $175.05.

Insiders Place Their Bets

In other news, Director Leslie V. Norwalk sold 1,190 shares of the business’s stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $155.09, for a total transaction of $184,557.10. Following the sale, the director directly owned 6,239 shares of the company’s stock, valued at $967,606.51. The trade was a 16.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Kyle Gano sold 36,400 shares of the company’s stock in a transaction on Friday, January 16th. The shares were sold at an average price of $132.70, for a total value of $4,830,280.00. Following the sale, the chief executive officer directly owned 140,407 shares of the company’s stock, valued at approximately $18,632,008.90. This represents a 20.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 42,590 shares of company stock valued at $5,775,987 in the last quarter. Insiders own 4.80% of the company’s stock.

Neurocrine Biosciences Price Performance

NBIX stock opened at $129.54 on Thursday. Neurocrine Biosciences, Inc. has a 12 month low of $84.23 and a 12 month high of $160.18. The firm has a market cap of $13.00 billion, a PE ratio of 27.80, a P/E/G ratio of 0.68 and a beta of 0.32. The firm has a 50 day simple moving average of $133.57 and a 200 day simple moving average of $140.36.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its earnings results on Wednesday, February 11th. The company reported $1.88 earnings per share for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.48). The business had revenue of $805.50 million for the quarter, compared to the consensus estimate of $804.21 million. Neurocrine Biosciences had a return on equity of 16.48% and a net margin of 16.73%.The company’s quarterly revenue was up 28.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.69 earnings per share. As a group, sell-side analysts expect that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.

About Neurocrine Biosciences

Neurocrine Biosciences (NASDAQ: NBIX) is a biopharmaceutical company based in San Diego, California, focused on developing treatments for neurological, endocrine and neuropsychiatric disorders. Since its founding in 1992, the company has pursued a research‐driven strategy aimed at addressing unmet medical needs in movement disorders, reproductive health and central nervous system conditions. Neurocrine’s operations encompass drug discovery, clinical development and commercialization activities.

The company’s lead marketed product, Ingrezza™ (valbenazine), is indicated for the treatment of tardive dyskinesia, a movement disorder associated with long-term antipsychotic use.