Oppenheimer & Co. Inc. Trims Stock Holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Oppenheimer & Co. Inc. decreased its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 60.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,694 shares of the company’s stock after selling 4,195 shares during the period. Oppenheimer & Co. Inc.’s holdings in Neurocrine Biosciences were worth $227,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. SG Americas Securities LLC increased its stake in shares of Neurocrine Biosciences by 6.8% in the first quarter. SG Americas Securities LLC now owns 2,106 shares of the company’s stock worth $186,000 after purchasing an additional 135 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Neurocrine Biosciences by 2.8% in the second quarter. Nisa Investment Advisors LLC now owns 6,130 shares of the company’s stock valued at $518,000 after acquiring an additional 165 shares during the period. Exane Derivatives boosted its position in shares of Neurocrine Biosciences by 5.1% in the second quarter. Exane Derivatives now owns 5,103 shares of the company’s stock valued at $431,000 after acquiring an additional 246 shares during the period. NEXT Financial Group Inc boosted its position in shares of Neurocrine Biosciences by 89.8% in the second quarter. NEXT Financial Group Inc now owns 560 shares of the company’s stock valued at $47,000 after acquiring an additional 265 shares during the period. Finally, Advisor Group Inc. boosted its position in shares of Neurocrine Biosciences by 17.8% in the second quarter. Advisor Group Inc. now owns 3,037 shares of the company’s stock valued at $255,000 after acquiring an additional 459 shares during the period. Hedge funds and other institutional investors own 96.23% of the company’s stock.

A number of equities analysts have recently commented on NBIX shares. Oppenheimer started coverage on shares of Neurocrine Biosciences in a research report on Tuesday, July 16th. They issued an “outperform” rating and a $100.00 price objective for the company. Stifel Nicolaus set a $113.00 price objective on shares of Neurocrine Biosciences and gave the company a “buy” rating in a research report on Monday, July 15th. Zacks Investment Research upgraded shares of Neurocrine Biosciences from a “hold” rating to a “buy” rating and set a $97.00 price objective for the company in a research report on Wednesday, July 31st. Credit Suisse Group raised their price objective on shares of Neurocrine Biosciences from $95.00 to $110.00 and gave the company an “outperform” rating in a research report on Tuesday, July 30th. Finally, BidaskClub lowered shares of Neurocrine Biosciences from a “buy” rating to a “hold” rating in a research report on Friday. Four research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $106.05.

Neurocrine Biosciences stock traded up $2.61 during mid-day trading on Friday, hitting $96.74. 5,988 shares of the company traded hands, compared to its average volume of 580,500. Neurocrine Biosciences, Inc. has a one year low of $64.72 and a one year high of $126.98. The stock has a market cap of $8.62 billion, a price-to-earnings ratio of 440.95, a price-to-earnings-growth ratio of 5.86 and a beta of 1.26. The company has a debt-to-equity ratio of 0.96, a quick ratio of 7.32 and a current ratio of 7.44. The stock has a fifty day moving average price of $95.69 and a 200-day moving average price of $86.00.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its earnings results on Monday, July 29th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.13. Neurocrine Biosciences had a net margin of 2.98% and a return on equity of 0.46%. The business had revenue of $183.58 million during the quarter, compared to analyst estimates of $161.79 million. During the same period in the previous year, the business posted ($0.07) earnings per share. Neurocrine Biosciences’s revenue for the quarter was up 89.5% on a year-over-year basis. Sell-side analysts predict that Neurocrine Biosciences, Inc. will post 0.68 EPS for the current year.

In other news, insider Haig P. Bozigian sold 7,220 shares of the business’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $87.63, for a total value of $632,688.60. Following the completion of the sale, the insider now directly owns 149,096 shares in the company, valued at approximately $13,065,282.48. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Haig P. Bozigian sold 2,100 shares of the business’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $87.82, for a total transaction of $184,422.00. Following the completion of the sale, the insider now owns 144,076 shares of the company’s stock, valued at $12,652,754.32. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 183,561 shares of company stock valued at $17,342,228. 4.30% of the stock is currently owned by company insiders.

About Neurocrine Biosciences

Neurocrine Biosciences, Inc discovers and develops pharmaceuticals for the treatment of neurological and endocrine-related diseases and disorders in the United States. The company offers INGREZZA (valbenazine), a vesicular monoamine transporter 2 inhibitor (VMAT2), which is used for the treatment of movement disorders; ORILISSA, a gonadotropin-releasing hormone (GnRH) antagonist for use in women's health.

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Institutional Ownership by Quarter for Neurocrine Biosciences (NASDAQ:NBIX)

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