Jefferies Financial Group Inc. Takes $1.79 Million Position in Neurocrine Biosciences, Inc. $NBIX

Key Points

• Jefferies Financial Group acquired 10,630 Neurocrine Biosciences shares worth approximately $1.79 million during the second quarter. Institutional investors collectively own 92.59% of the company.
• Neurocrine reported strong quarterly results, with EPS of $2.85 versus the $1.65 consensus estimate and revenue of $959 million, up 39.5% year over year.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus and an average price target of $200.86, although insiders sold roughly $19 million of stock over the past 90 days.

Jefferies Financial Group Inc. bought a new position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 10,630 shares of the company's stock, valued at approximately $1,792,000.

A number of other hedge funds have also recently bought and sold shares of the stock. BlackRock Inc. bought a new position in shares of Neurocrine Biosciences during the 2nd quarter worth about $2,310,886,000. AQR Capital Management LLC lifted its stake in shares of Neurocrine Biosciences by 83.7% in the third quarter. AQR Capital Management LLC now owns 2,773,648 shares of the company's stock valued at $388,435,000 after buying an additional 1,263,633 shares during the period. Norges Bank acquired a new stake in Neurocrine Biosciences during the fourth quarter worth about $162,664,000. Bank of New York Mellon Corp bought a new position in Neurocrine Biosciences during the second quarter valued at about $117,827,000. Finally, Ieq Capital LLC acquired a new position in Neurocrine Biosciences in the 2nd quarter valued at approximately $107,914,000. 92.59% of the stock is owned by institutional investors.

Insider Buying and Selling at Neurocrine Biosciences

In related news, insider Darin Lippoldt sold 10,000 shares of the stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $179.60, for a total value of $1,796,000.00. Following the transaction, the insider directly owned 54,729 shares in the company, valued at $9,829,328.40. This represents a 15.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Leslie V. Norwalk sold 1,250 shares of the firm's stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $182.01, for a total transaction of $227,512.50. Following the completion of the transaction, the director directly owned 1,588 shares in the company, valued at approximately $289,031.88. The trade was a 44.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 114,375 shares of company stock worth $18,994,756 in the last 90 days. Corporate insiders own 4.60% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Stifel Nicolaus lifted their price target on shares of Neurocrine Biosciences from $188.00 to $215.00 and gave the stock a "buy" rating in a research note on Friday, July 31st. Wall Street Zen lowered shares of Neurocrine Biosciences from a "buy" rating to a "hold" rating in a research report on Sunday, August 9th. Weiss Ratings raised Neurocrine Biosciences from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday. Royal Bank Of Canada upped their price target on Neurocrine Biosciences from $195.00 to $198.00 and gave the company an "outperform" rating in a research report on Friday, July 31st. Finally, TD Cowen upped their target price on shares of Neurocrine Biosciences from $200.00 to $220.00 and gave the stock a "buy" rating in a report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $200.86.

Neurocrine Biosciences Stock Performance

NASDAQ NBIX opened at $154.06 on Friday. The stock has a fifty day moving average of $166.77 and a 200-day moving average of $149.43. The stock has a market capitalization of $15.66 billion, a P/E ratio of 22.59, a price-to-earnings-growth ratio of 0.72 and a beta of 0.39. Neurocrine Biosciences, Inc. has a 52 week low of $122.14 and a 52 week high of $186.12.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last announced its quarterly earnings data on Friday, July 31st. The company reported $2.85 EPS for the quarter, topping analysts' consensus estimates of $1.65 by $1.20. The firm had revenue of $959.00 million during the quarter, compared to analyst estimates of $891.16 million. Neurocrine Biosciences had a return on equity of 22.43% and a net margin of 20.91%.The company's revenue was up 39.5% on a year-over-year basis. During the same period last year, the company earned $1.65 earnings per share. Equities research analysts forecast that Neurocrine Biosciences, Inc. will post 7.25 earnings per share for the current fiscal year.

Neurocrine Biosciences Profile

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.

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