Bessemer Group Inc. Has $349,000 Position in Neurocrine Biosciences, Inc. $NBIX

Bessemer Group Inc. lowered its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 58.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,776 shares of the company’s stock after selling 3,984 shares during the quarter. Bessemer Group Inc.’s holdings in Neurocrine Biosciences were worth $349,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Geneos Wealth Management Inc. grew its position in Neurocrine Biosciences by 143.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock valued at $25,000 after purchasing an additional 135 shares during the period. WPG Advisers LLC acquired a new stake in Neurocrine Biosciences in the 1st quarter valued at $32,000. SVB Wealth LLC acquired a new stake in Neurocrine Biosciences in the 1st quarter valued at $35,000. Caitong International Asset Management Co. Ltd grew its position in Neurocrine Biosciences by 6,285.7% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 447 shares of the company’s stock valued at $49,000 after purchasing an additional 440 shares during the period. Finally, Wolff Wiese Magana LLC grew its position in Neurocrine Biosciences by 982.1% in the 2nd quarter. Wolff Wiese Magana LLC now owns 844 shares of the company’s stock valued at $106,000 after purchasing an additional 766 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 106,322 shares of the business’s stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $126.41, for a total value of $13,440,164.02. Following the sale, the director directly owned 514,596 shares in the company, valued at approximately $65,050,080.36. The trade was a 17.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 4.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Citigroup raised their price objective on Neurocrine Biosciences from $175.00 to $203.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Wall Street Zen upgraded Neurocrine Biosciences from a “hold” rating to a “strong-buy” rating in a research note on Saturday, August 2nd. Guggenheim raised their price objective on Neurocrine Biosciences from $165.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, August 1st. Morgan Stanley raised their price objective on Neurocrine Biosciences from $163.00 to $168.00 and gave the company an “overweight” rating in a research note on Monday, October 20th. Finally, Royal Bank Of Canada raised their price objective on Neurocrine Biosciences from $156.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Neurocrine Biosciences currently has a consensus rating of “Moderate Buy” and a consensus target price of $168.47.

Neurocrine Biosciences Stock Performance

Shares of Neurocrine Biosciences stock opened at $143.21 on Monday. Neurocrine Biosciences, Inc. has a 52-week low of $84.23 and a 52-week high of $154.61. The stock’s 50-day simple moving average is $140.85 and its 200 day simple moving average is $129.96. The stock has a market capitalization of $14.28 billion, a P/E ratio of 34.26, a P/E/G ratio of 0.94 and a beta of 0.21.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings data on Tuesday, October 28th. The company reported $2.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.46. Neurocrine Biosciences had a return on equity of 15.82% and a net margin of 15.95%.The business had revenue of $794.90 million for the quarter, compared to analysts’ expectations of $746.61 million. During the same period in the previous year, the business posted $1.81 EPS. The firm’s quarterly revenue was up 27.8% compared to the same quarter last year. Equities research analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal 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.