Fox Run Management L.L.C. Takes Position in Neurocrine Biosciences, Inc. $NBIX

Key Points

• Fox Run Management L.L.C. has invested approximately $828,000 in Neurocrine Biosciences, Inc., acquiring 7,482 shares during the first quarter.
• Institutional investors control 92.59% of Neurocrine Biosciences' stock, with notable increases from firms like Orbimed Advisors and Assenagon Asset Management.
• Neurocrine Biosciences reported $687.50 million in revenue for the last quarter, exceeding analyst expectations and indicating a 16.5% increase over the previous year.

Fox Run Management L.L.C. bought a new position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm bought 7,482 shares of the company's stock, valued at approximately $828,000.

A number of other large investors also recently bought and sold shares of NBIX. Rockefeller Capital Management L.P. lifted its holdings in Neurocrine Biosciences by 2.8% during the 4th quarter. Rockefeller Capital Management L.P. now owns 19,870 shares of the company's stock worth $2,712,000 after buying an additional 549 shares during the last quarter. Townsquare Capital LLC bought a new position in Neurocrine Biosciences during the 4th quarter worth approximately $290,000. Mariner LLC lifted its holdings in Neurocrine Biosciences by 23.0% during the 4th quarter. Mariner LLC now owns 20,639 shares of the company's stock worth $2,817,000 after buying an additional 3,857 shares during the last quarter. Marshall Wace LLP bought a new position in Neurocrine Biosciences during the 4th quarter worth approximately $331,000. Finally, Farringdon Capital Ltd. bought a new position in Neurocrine Biosciences during the 4th quarter worth approximately $316,000. Institutional investors own 92.59% of the company's stock.

Insider Activity at Neurocrine Biosciences

In related news, insider Ingrid Delaet sold 457 shares of the firm's stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $135.00, for a total value of $61,695.00. Following the sale, the insider directly owned 4,730 shares in the company, valued at $638,550. This trade represents a 8.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kevin Charles Gorman sold 106,322 shares of the firm's stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $126.41, for a total value of $13,440,164.02. Following the completion of the sale, the director owned 514,596 shares in the company, valued at approximately $65,050,080.36. This represents a 17.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 196,573 shares of company stock worth $25,112,766 in the last three months. 4.30% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on NBIX shares. Morgan Stanley increased their target price on Neurocrine Biosciences from $150.00 to $158.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Guggenheim increased their price target on Neurocrine Biosciences from $165.00 to $175.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. HC Wainwright dropped their price target on Neurocrine Biosciences from $185.00 to $168.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Canaccord Genuity Group increased their price target on Neurocrine Biosciences from $158.00 to $160.00 and gave the stock a "buy" rating in a research report on Tuesday, May 6th. Finally, JPMorgan Chase & Co. increased their price target on Neurocrine Biosciences from $140.00 to $145.00 and gave the stock a "neutral" rating in a research report on Thursday, July 31st. Eighteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $159.50.

Neurocrine Biosciences Trading Down 0.2%

NBIX traded down $0.28 during trading hours on Wednesday, hitting $132.53. The company's stock had a trading volume of 237,754 shares, compared to its average volume of 1,263,270. Neurocrine Biosciences, Inc. has a fifty-two week low of $84.23 and a fifty-two week high of $154.87. The firm has a market capitalization of $13.14 billion, a PE ratio of 39.21, a PEG ratio of 0.96 and a beta of 0.25. The company has a 50-day simple moving average of $129.52 and a 200 day simple moving average of $119.34.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $1.06 EPS for the quarter, beating the consensus estimate of $0.98 by $0.08. Neurocrine Biosciences had a return on equity of 13.22% and a net margin of 13.88%.The firm had revenue of $687.50 million for the quarter, compared to analysts' expectations of $653.09 million. During the same period last year, the firm earned $1.63 EPS. The firm's revenue was up 16.5% compared to the same quarter last year. Research analysts expect that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

About Neurocrine Biosciences

Neurocrine Biosciences, Inc discovers, develops, and markets pharmaceuticals for neurological, neuroendocrine, and neuropsychiatric disorders in the United States and internationally. The company's products include INGREZZA for tardive dyskinesia and chorea associated with Huntington's disease; ALKINDI for adrenal insufficiency; Efmody capsules for classic congenital adrenal hyperplasia; Orilissa tablets for endometriosis; and Oriahnn capsules to treat uterine fibroids.