Sumitomo Mitsui Asset Management Company LTD bought a new position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 4,725 shares of the company’s stock, valued at approximately $416,000.
Other institutional investors also recently made changes to their positions in the company. Acadian Asset Management LLC acquired a new stake in shares of Neurocrine Biosciences during the fourth quarter worth $32,000. Exane Derivatives raised its position in Neurocrine Biosciences by 48,400.0% during the fourth quarter. Exane Derivatives now owns 485 shares of the company’s stock valued at $35,000 after buying an additional 484 shares during the period. Quadrant Capital Group LLC raised its position in Neurocrine Biosciences by 9,242.9% during the first quarter. Quadrant Capital Group LLC now owns 654 shares of the company’s stock valued at $56,000 after buying an additional 647 shares during the period. Penserra Capital Management LLC acquired a new position in Neurocrine Biosciences during the fourth quarter valued at $86,000. Finally, Arbor Wealth Management LLC acquired a new position in Neurocrine Biosciences during the fourth quarter valued at $92,000.
NBIX has been the topic of several recent analyst reports. Needham & Company LLC lowered Neurocrine Biosciences from a “buy” rating to a “hold” rating in a research report on Thursday, January 24th. Oppenheimer set a $105.00 price target on Neurocrine Biosciences and gave the company a “buy” rating in a research report on Tuesday, January 29th. Cantor Fitzgerald reissued a “buy” rating and set a $121.00 price target on shares of Neurocrine Biosciences in a research report on Tuesday, January 29th. HC Wainwright reissued a “buy” rating on shares of Neurocrine Biosciences in a research report on Wednesday, January 30th. Finally, Bank of America dropped their price target on Neurocrine Biosciences from $124.00 to $117.00 and set a “buy” rating on the stock in a research report on Wednesday, February 6th. Five research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Neurocrine Biosciences currently has an average rating of “Buy” and an average price target of $102.95.
NBIX stock traded up $0.49 during mid-day trading on Friday, hitting $79.24. The stock had a trading volume of 8,239 shares, compared to its average volume of 947,659. The company has a debt-to-equity ratio of 0.96, a current ratio of 8.79 and a quick ratio of 8.61. Neurocrine Biosciences, Inc. has a 1-year low of $64.72 and a 1-year high of $126.98. The firm has a market cap of $7.27 billion, a P/E ratio of 362.55 and a beta of 1.73.
Neurocrine Biosciences (NASDAQ:NBIX) last issued its earnings results on Monday, April 29th. The company reported ($1.12) earnings per share for the quarter, missing the consensus estimate of ($1.05) by ($0.07). Neurocrine Biosciences had a negative return on equity of 9.14% and a negative net margin of 7.56%. The firm had revenue of $138.40 million during the quarter, compared to analyst estimates of $136.77 million. During the same period in the previous year, the company earned ($0.47) earnings per share. The business’s revenue for the quarter was up 94.7% on a year-over-year basis. As a group, research analysts expect that Neurocrine Biosciences, Inc. will post -0.24 EPS for the current year.
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About Neurocrine Biosciences
Neurocrine Biosciences, Inc discovers and develops pharmaceuticals for the treatment of neurological and endocrine-related diseases and disorders in the United States. The company offers INGREZZA (valbenazine), a vesicular monoamine transporter 2 inhibitor (VMAT2), which is used for the treatment of movement disorders; ORILISSA, a gonadotropin-releasing hormone (GnRH) antagonist for use in women's health.
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