Mackenzie Financial Corp Has $9.52 Million Stock Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Key Points

• Mackenzie Financial Corp increased its stake in Neurocrine Biosciences by 55.9%, owning 86,109 shares valued at approximately $9.5 million after purchasing additional shares in the first quarter.
• Neurocrine Biosciences reported strong quarterly results with $1.06 earnings per share, which exceeded analysts' expectations by $0.08, and a revenue of $687.5 million during the same period.
• Institutional investors now hold 92.59% of Neurocrine Biosciences' shares, highlighting significant confidence from large investors in the company's prospects.

Mackenzie Financial Corp increased its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 55.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 86,109 shares of the company's stock after purchasing an additional 30,888 shares during the quarter. Mackenzie Financial Corp owned approximately 0.09% of Neurocrine Biosciences worth $9,524,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. OneDigital Investment Advisors LLC increased its position in shares of Neurocrine Biosciences by 2.1% in the fourth quarter. OneDigital Investment Advisors LLC now owns 4,215 shares of the company's stock worth $575,000 after acquiring an additional 87 shares in the last quarter. HighPoint Advisor Group LLC grew its stake in shares of Neurocrine Biosciences by 4.1% in the fourth quarter. HighPoint Advisor Group LLC now owns 2,446 shares of the company's stock valued at $334,000 after buying an additional 96 shares in the last quarter. Huntington National Bank lifted its position in Neurocrine Biosciences by 73.5% during the 4th quarter. Huntington National Bank now owns 229 shares of the company's stock worth $31,000 after acquiring an additional 97 shares in the last quarter. Utah Retirement Systems grew its position in Neurocrine Biosciences by 0.6% in the fourth quarter. Utah Retirement Systems now owns 16,583 shares of the company's stock valued at $2,264,000 after acquiring an additional 100 shares in the last quarter. Finally, DE Burlo Group Inc. boosted its stake in shares of Neurocrine Biosciences by 2.2% in the first quarter. DE Burlo Group Inc. now owns 4,717 shares of the company's stock valued at $522,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 92.59% of the company's stock.

Insider Transactions at Neurocrine Biosciences

In related news, Director Kevin Charles Gorman sold 9,613 shares of Neurocrine Biosciences stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $120.38, for a total transaction of $1,157,212.94. Following the completion of the transaction, the director owned 514,596 shares in the company, valued at approximately $61,947,066.48. This trade represents a 1.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director William H. Rastetter sold 30,000 shares of the business's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $110.20, for a total value of $3,306,000.00. Following the transaction, the director directly owned 37,491 shares in the company, valued at $4,131,508.20. The trade was a 44.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 120,251 shares of company stock worth $14,978,602. 4.80% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

NBIX has been the topic of several recent analyst reports. HC Wainwright cut their price target on shares of Neurocrine Biosciences from $185.00 to $168.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Canaccord Genuity Group lifted their price objective on shares of Neurocrine Biosciences from $158.00 to $160.00 and gave the stock a "buy" rating in a report on Tuesday, May 6th. UBS Group boosted their price objective on shares of Neurocrine Biosciences from $152.00 to $174.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. Morgan Stanley raised their price target on Neurocrine Biosciences from $150.00 to $158.00 and gave the stock an "overweight" rating in a report on Thursday. Finally, Guggenheim boosted their price target on shares of Neurocrine Biosciences from $165.00 to $175.00 and gave the company a "buy" rating in a report on Friday. Four research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Neurocrine Biosciences has a consensus rating of "Moderate Buy" and a consensus price target of $164.00.

Neurocrine Biosciences Stock Up 0.5%

Neurocrine Biosciences stock traded up $0.68 during mid-day trading on Friday, hitting $128.91. 1,395,006 shares of the company's stock were exchanged, compared to its average volume of 901,206. The company's 50 day simple moving average is $128.26 and its 200-day simple moving average is $121.03. The firm has a market capitalization of $12.79 billion, a P/E ratio of 38.14, a PEG ratio of 1.32 and a beta of 0.25. Neurocrine Biosciences, Inc. has a fifty-two week low of $84.23 and a fifty-two week high of $157.40.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $1.06 earnings per share (EPS) for the quarter, topping 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 company had revenue of $687.50 million during the quarter, compared to the consensus estimate of $653.09 million. During the same period in the prior year, the company earned $1.63 earnings per share. The company's revenue for the quarter was up 16.5% compared to the same quarter last year. Research analysts expect that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current 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.