Van ECK Associates Corp Purchases 85,772 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Van ECK Associates Corp grew its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 1,325.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 92,243 shares of the company’s stock after purchasing an additional 85,772 shares during the quarter. Van ECK Associates Corp owned approximately 0.09% of Neurocrine Biosciences worth $12,722,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. First Horizon Advisors Inc. boosted its stake in Neurocrine Biosciences by 10.5% during the fourth quarter. First Horizon Advisors Inc. now owns 782 shares of the company’s stock worth $103,000 after acquiring an additional 74 shares in the last quarter. Quadrant Capital Group LLC raised its holdings in Neurocrine Biosciences by 3.9% during the fourth quarter. Quadrant Capital Group LLC now owns 2,075 shares of the company’s stock worth $273,000 after buying an additional 78 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its holdings in Neurocrine Biosciences by 3.2% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 2,530 shares of the company’s stock worth $333,000 after buying an additional 78 shares during the last quarter. Sunbelt Securities Inc. raised its holdings in Neurocrine Biosciences by 34.3% during the third quarter. Sunbelt Securities Inc. now owns 325 shares of the company’s stock worth $37,000 after buying an additional 83 shares during the last quarter. Finally, Commonwealth Equity Services LLC raised its holdings in Neurocrine Biosciences by 0.6% during the first quarter. Commonwealth Equity Services LLC now owns 13,941 shares of the company’s stock worth $1,923,000 after buying an additional 84 shares during the last quarter. 92.59% of the stock is owned by institutional investors.

Neurocrine Biosciences Trading Up 0.1 %

Shares of NBIX stock traded up $0.08 during trading hours on Friday, reaching $138.31. The stock had a trading volume of 203,797 shares, compared to its average volume of 827,936. The stock’s fifty day simple moving average is $137.41 and its 200 day simple moving average is $136.09. Neurocrine Biosciences, Inc. has a 12 month low of $93.28 and a 12 month high of $148.37. The firm has a market capitalization of $13.92 billion, a PE ratio of 38.09 and a beta of 0.37.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its earnings results on Wednesday, May 1st. The company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.62). The company had revenue of $515.30 million during the quarter, compared to analysts’ expectations of $512.21 million. Neurocrine Biosciences had a net margin of 18.65% and a return on equity of 17.45%. As a group, equities research analysts anticipate that Neurocrine Biosciences, Inc. will post 4.22 EPS for the current fiscal year.

Insider Activity at Neurocrine Biosciences

In related news, insider Eric Benevich sold 19,818 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $133.36, for a total value of $2,642,928.48. Following the sale, the insider now directly owns 40,778 shares of the company’s stock, valued at $5,438,154.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Neurocrine Biosciences news, insider Ingrid Delaet sold 273 shares of Neurocrine Biosciences stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $140.55, for a total transaction of $38,370.15. Following the transaction, the insider now directly owns 7,507 shares of the company’s stock, valued at $1,055,108.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Eric Benevich sold 19,818 shares of Neurocrine Biosciences stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $133.36, for a total transaction of $2,642,928.48. Following the transaction, the insider now directly owns 40,778 shares in the company, valued at $5,438,154.08. The disclosure for this sale can be found here. Insiders have sold 98,697 shares of company stock valued at $13,377,515 over the last three months. 4.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Oppenheimer upped their price objective on shares of Neurocrine Biosciences from $200.00 to $216.00 and gave the stock an “outperform” rating in a report on Thursday, May 2nd. Morgan Stanley reiterated an “overweight” rating and issued a $160.00 target price on shares of Neurocrine Biosciences in a report on Wednesday, June 12th. StockNews.com downgraded shares of Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a report on Friday, June 21st. Guggenheim increased their target price on shares of Neurocrine Biosciences from $164.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Finally, BMO Capital Markets increased their target price on shares of Neurocrine Biosciences from $129.00 to $138.00 and gave the company a “market perform” rating in a report on Thursday, May 2nd. Six research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $152.00.

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.