Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Shares Bought by Zurcher Kantonalbank Zurich Cantonalbank

Key Points

• Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Neurocrine Biosciences by 87.3% during the first quarter, now owning 114,765 shares valued at approximately $12.7 million.
• Neurocrine Biosciences reported a missed earnings estimate for the last quarter, posting $0.08 earnings per share against a consensus expectation of $0.70, with revenues of $572.60 million.
• Analysts have a consensus rating of "Moderate Buy" for Neurocrine Biosciences, with an average price target of $163.87, following several recent upgrades from major firms.

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 87.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 114,765 shares of the company's stock after purchasing an additional 53,505 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.12% of Neurocrine Biosciences worth $12,693,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. OneDigital Investment Advisors LLC raised its stake in Neurocrine Biosciences by 2.1% during the 4th quarter. OneDigital Investment Advisors LLC now owns 4,215 shares of the company's stock valued at $575,000 after purchasing an additional 87 shares during the period. HighPoint Advisor Group LLC grew its holdings in Neurocrine Biosciences by 4.1% during the 4th 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 grew its holdings in Neurocrine Biosciences by 73.5% during the 4th quarter. Huntington National Bank now owns 229 shares of the company's stock valued at $31,000 after buying an additional 97 shares in the last quarter. Utah Retirement Systems grew its holdings in Neurocrine Biosciences by 0.6% during the 4th quarter. Utah Retirement Systems now owns 16,583 shares of the company's stock valued at $2,264,000 after buying an additional 100 shares in the last quarter. Finally, DE Burlo Group Inc. grew its holdings in Neurocrine Biosciences by 2.2% during the 1st quarter. DE Burlo Group Inc. now owns 4,717 shares of the company's stock valued at $522,000 after buying an additional 100 shares in the last quarter. Institutional investors own 92.59% of the company's stock.

Neurocrine Biosciences Stock Performance

NBIX stock traded up $0.68 on Friday, hitting $128.91. 1,395,006 shares of the company's stock were exchanged, compared to its average volume of 901,206. Neurocrine Biosciences, Inc. has a 12-month low of $84.23 and a 12-month high of $157.40. The firm has a 50 day moving average price of $128.08 and a two-hundred day moving average price of $121.11. The stock has a market cap of $12.79 billion, a P/E ratio of 38.14, a price-to-earnings-growth ratio of 1.32 and a beta of 0.25.

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

Insider Transactions at Neurocrine Biosciences

In other news, Director Kevin Charles Gorman sold 9,613 shares of the company's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $120.38, for a total value of $1,157,212.94. Following the sale, the director owned 514,596 shares in the company, valued at $61,947,066.48. This represents a 1.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jude Onyia sold 59,819 shares of the company's stock in a transaction dated 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 completion of the sale, the insider owned 18,289 shares in the company, valued at $2,385,982.94. The trade was a 76.58% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 120,251 shares of company stock worth $14,978,602 in the last 90 days. 4.80% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. JPMorgan Chase & Co. lifted their target price on Neurocrine Biosciences from $140.00 to $145.00 and gave the stock a "neutral" rating in a report on Thursday. The Goldman Sachs Group assumed coverage on Neurocrine Biosciences in a report on Thursday, July 10th. They issued a "buy" rating and a $182.00 target price for the company. UBS Group lifted their target price on Neurocrine Biosciences from $152.00 to $174.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Canaccord Genuity Group lifted their target price on Neurocrine Biosciences from $158.00 to $160.00 and gave the stock a "buy" rating in a report on Tuesday, May 6th. Finally, Morgan Stanley lifted their target price on Neurocrine Biosciences from $150.00 to $158.00 and gave the stock an "overweight" rating in a report on Thursday. Four investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. According to MarketBeat.com, Neurocrine Biosciences has an average rating of "Moderate Buy" and a consensus target price of $164.00.

Neurocrine Biosciences Company 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.