Jefferies Financial Group Inc. Makes New Investment in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Jefferies Financial Group Inc. acquired a new stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 4,500 shares of the company's stock, valued at approximately $498,000.

Several other hedge funds have also added to or reduced their stakes in NBIX. LPL Financial LLC boosted its stake in Neurocrine Biosciences by 27.8% during the 4th quarter. LPL Financial LLC now owns 16,754 shares of the company's stock valued at $2,287,000 after purchasing an additional 3,643 shares during the last quarter. Huntington National Bank boosted its position in shares of Neurocrine Biosciences by 73.5% during the fourth quarter. Huntington National Bank now owns 229 shares of the company's stock valued at $31,000 after buying an additional 97 shares during the last quarter. ExodusPoint Capital Management LP purchased a new position in Neurocrine Biosciences in the 4th quarter worth about $2,163,000. Aviva PLC lifted its stake in Neurocrine Biosciences by 157.0% during the 4th quarter. Aviva PLC now owns 61,918 shares of the company's stock valued at $8,452,000 after acquiring an additional 37,826 shares during the period. Finally, Cerity Partners LLC boosted its holdings in shares of Neurocrine Biosciences by 7.0% during the 4th quarter. Cerity Partners LLC now owns 41,737 shares of the company's stock valued at $5,290,000 after acquiring an additional 2,713 shares during the last quarter. 92.59% of the stock is owned by institutional investors.

Insider Buying and Selling at Neurocrine Biosciences

In other Neurocrine Biosciences news, insider Jude Onyia sold 59,819 shares of Neurocrine Biosciences stock in a transaction that occurred on Wednesday, July 9th. The stock was sold at an average price of $130.46, for a total value of $7,803,986.74. Following the sale, the insider owned 18,289 shares of the company's stock, valued at $2,385,982.94. The trade was a 76.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Ingrid Delaet sold 457 shares of the company'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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 90,251 shares of company stock valued at $11,672,602 in the last 90 days. Insiders own 4.80% of the company's stock.

Neurocrine Biosciences Stock Performance

NBIX traded down $0.59 during trading on Friday, reaching $125.01. 1,048,379 shares of the company traded hands, compared to its average volume of 1,013,648. The company has a market cap of $12.40 billion, a P/E ratio of 36.99, a PEG ratio of 0.90 and a beta of 0.25. Neurocrine Biosciences, Inc. has a 12-month low of $84.23 and a 12-month high of $154.87. The firm has a fifty day simple moving average of $128.72 and a 200 day simple moving average of $120.29.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $1.06 earnings per share for the quarter, topping analysts' consensus estimates of $0.98 by $0.08. The firm had revenue of $687.50 million during the quarter, compared to analyst estimates of $653.09 million. Neurocrine Biosciences had a net margin of 13.88% and a return on equity of 13.22%. Neurocrine Biosciences's revenue for the quarter was up 16.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.63 earnings per share. As a group, sell-side analysts expect that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

Analyst Ratings Changes

NBIX has been the topic of a number of recent research reports. Wall Street Zen raised Neurocrine Biosciences from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 2nd. HC Wainwright cut their target price on shares of Neurocrine Biosciences from $185.00 to $168.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Royal Bank Of Canada decreased their price target on shares of Neurocrine Biosciences from $146.00 to $144.00 and set an "outperform" rating on the stock in a research report on Thursday, July 31st. Guggenheim lifted their price target on shares of Neurocrine Biosciences from $165.00 to $175.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Finally, Stifel Nicolaus upped their price objective on Neurocrine Biosciences from $166.00 to $174.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Three analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $160.90.

Neurocrine Biosciences Profile

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.