Mackenzie Financial Corp Has $12.23 Million Holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Mackenzie Financial Corp cut its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 3.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 88,827 shares of the company’s stock after selling 2,983 shares during the period. Mackenzie Financial Corp owned 0.09% of Neurocrine Biosciences worth $12,229,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NBIX. Vanguard Group Inc. raised its position in Neurocrine Biosciences by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 9,930,926 shares of the company’s stock worth $1,369,673,000 after purchasing an additional 220,598 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Neurocrine Biosciences by 9.6% during the second quarter. Renaissance Technologies LLC now owns 2,468,146 shares of the company’s stock worth $339,790,000 after acquiring an additional 216,500 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of Neurocrine Biosciences by 23.0% during the second quarter. AQR Capital Management LLC now owns 1,223,055 shares of the company’s stock valued at $166,959,000 after acquiring an additional 228,444 shares during the period. Bank of New York Mellon Corp boosted its holdings in Neurocrine Biosciences by 1.4% in the second quarter. Bank of New York Mellon Corp now owns 934,404 shares of the company’s stock valued at $128,639,000 after acquiring an additional 13,069 shares during the last quarter. Finally, Vestal Point Capital LP acquired a new stake in Neurocrine Biosciences in the fourth quarter worth about $105,408,000. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Neurocrine Biosciences Trading Down 0.8 %

NASDAQ NBIX opened at $115.06 on Monday. The company has a market cap of $11.58 billion, a PE ratio of 31.70 and a beta of 0.37. Neurocrine Biosciences, Inc. has a 12 month low of $103.63 and a 12 month high of $157.98. The stock has a 50 day moving average of $135.50 and a 200-day moving average of $137.45.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.52). The business had revenue of $590.20 million during the quarter, compared to the consensus estimate of $545.98 million. Neurocrine Biosciences had a net margin of 16.00% and a return on equity of 14.86%. The firm’s revenue was up 30.4% on a year-over-year basis. During the same quarter last year, the company posted $0.95 EPS. As a group, sell-side analysts predict that Neurocrine Biosciences, Inc. will post 4.19 EPS for the current fiscal year.

Insider Buying and Selling

In other Neurocrine Biosciences news, Director Gary A. Lyons sold 930 shares of Neurocrine Biosciences stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $150.03, for a total value of $139,527.90. Following the completion of the sale, the director now directly owns 119,047 shares in the company, valued at $17,860,621.41. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director William H. Rastetter sold 14,250 shares of Neurocrine Biosciences stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $146.69, for a total transaction of $2,090,332.50. Following the transaction, the director now owns 37,491 shares of the company’s stock, valued at $5,499,554.79. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Gary A. Lyons sold 930 shares of Neurocrine Biosciences stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $150.03, for a total value of $139,527.90. Following the transaction, the director now directly owns 119,047 shares in the company, valued at approximately $17,860,621.41. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 61,798 shares of company stock worth $9,274,196. Company insiders own 4.30% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on NBIX shares. Guggenheim raised their target price on shares of Neurocrine Biosciences from $170.00 to $180.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $155.00 target price on shares of Neurocrine Biosciences in a report on Monday, September 16th. Piper Sandler upgraded shares of Neurocrine Biosciences from a “neutral” rating to an “overweight” rating and upped their target price for the company from $131.00 to $159.00 in a research report on Thursday, August 29th. Royal Bank of Canada reduced their price target on Neurocrine Biosciences from $143.00 to $136.00 and set a “sector perform” rating on the stock in a research report on Thursday, August 29th. Finally, Citigroup upped their price objective on Neurocrine Biosciences from $150.00 to $158.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Five investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $162.20.

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.