Mackenzie Financial Corp boosted its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 51.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,726 shares of the company’s stock after purchasing an additional 5,017 shares during the period. Mackenzie Financial Corp’s holdings in Neurocrine Biosciences were worth $1,412,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in NBIX. Nordea Investment Management AB increased its holdings in Neurocrine Biosciences by 141.9% during the 3rd quarter. Nordea Investment Management AB now owns 925,658 shares of the company’s stock valued at $88,290,000 after purchasing an additional 542,972 shares in the last quarter. Woodline Partners LP acquired a new stake in shares of Neurocrine Biosciences in the 2nd quarter valued at $37,473,000. DSM Capital Partners LLC increased its stake in shares of Neurocrine Biosciences by 13.9% in the 2nd quarter. DSM Capital Partners LLC now owns 1,535,484 shares of the company’s stock valued at $149,433,000 after buying an additional 186,977 shares during the period. Vanguard Group Inc. increased its stake in shares of Neurocrine Biosciences by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 8,984,621 shares of the company’s stock valued at $874,383,000 after buying an additional 155,346 shares during the period. Finally, Amundi acquired a new stake in shares of Neurocrine Biosciences in the 2nd quarter valued at $11,854,000. 94.20% of the stock is owned by hedge funds and other institutional investors.
NBIX has been the subject of several research reports. Morgan Stanley lowered their target price on Neurocrine Biosciences from $112.00 to $103.00 and set an “equal weight” rating for the company in a research note on Friday, January 7th. Cantor Fitzgerald lifted their target price on Neurocrine Biosciences from $117.00 to $123.00 and gave the company an “overweight” rating in a research note on Tuesday, November 2nd. Mizuho lifted their target price on Neurocrine Biosciences from $99.00 to $103.00 and gave the company a “neutral” rating in a research note on Tuesday, November 2nd. SVB Leerink reissued a “market perform” rating on shares of Neurocrine Biosciences in a research note on Monday, October 18th. Finally, Royal Bank of Canada decreased their price objective on Neurocrine Biosciences from $130.00 to $119.00 and set an “outperform” rating for the company in a research note on Tuesday, November 2nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $116.81.
NBIX stock opened at $78.36 on Friday. The business’s 50-day moving average price is $84.37 and its two-hundred day moving average price is $92.34. The company has a current ratio of 4.45, a quick ratio of 4.34 and a debt-to-equity ratio of 0.25. The firm has a market cap of $7.43 billion, a PE ratio of 17.15 and a beta of 0.74. Neurocrine Biosciences, Inc. has a 1-year low of $71.88 and a 1-year high of $120.27.
Neurocrine Biosciences (NASDAQ:NBIX) last posted its earnings results on Monday, November 1st. The company reported $0.23 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by ($0.28). The business had revenue of $296.00 million for the quarter, compared to the consensus estimate of $297.02 million. Neurocrine Biosciences had a return on equity of 35.89% and a net margin of 41.59%. The business’s revenue was up 14.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.62) earnings per share. On average, analysts forecast that Neurocrine Biosciences, Inc. will post 1.63 earnings per share for the current year.
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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