Neurocrine Biosciences, Inc. (NASDAQ:NBIX) has seen a significant increase in its holdings by Vontobel Holding Ltd., a Swiss investment management company. According to the company’s most recent filing with the Securities & Exchange Commission, Vontobel Holding Ltd. increased its position in Neurocrine Biosciences by an impressive 273.4% during the first quarter. This move demonstrates Vontobel Holding Ltd.’s confidence in the company and its potential for growth.
At the end of the quarter, Vontobel Holding Ltd. owned 12,026 shares of Neurocrine Biosciences, which was a substantial increase from its initial holdings of 3,221 shares. The additional 8,805 shares were acquired during the first quarter and brought the total value of Vontobel Holding Ltd.’s holdings to $1,217,000.
Neurocrine Biosciences is a renowned biopharmaceutical company specializing in discovering and developing treatments for neurological, endocrine, and psychiatric disorders. The company boasts an extensive portfolio that includes treatments for tardive dyskinesia, Parkinson’s disease, endometriosis, and uterine fibroids. In addition to these existing products, Neurocrine Biosciences also has ongoing clinical programs covering various therapeutic areas.
In other news related to Neurocrine Biosciences, there have been recent insider transactions involving prominent individuals associated with the company. Director William H. Rastetter sold 6,034 shares of Neurocrine Biosciences stock on April 21st at an average price of $105.04 per share. The total value of this transaction amounted to $633,811.36. Following this sale, Rastetter now holds 39,460 shares in the company with an estimated value of approximately $4,144,878.40.
Furthermore, insider Julie Cooke also sold 11,397 shares of Neurocrine Biosciences stock on May 1st at an average price of $103.89 per share. The total value of this transaction reached $1,184,034.33. Cooke’s current holdings amount to 16,169 shares in the company, which are valued at $1,679,797.41.
These insider transactions were disclosed in filings with the Securities & Exchange Commission (SEC) and are available for public access through the SEC’s website. They provide transparency and insight into the actions of key individuals within Neurocrine Biosciences.
It is worth noting that these recent insider transactions cumulatively amount to roughly 37,034 shares being sold by insiders within the last three months. The total value of these sales reaches an impressive $3,838,922. This indicates that company insiders own approximately 4.60% of Neurocrine Biosciences’ overall stock.
The surge in holdings by Vontobel Holding Ltd., along with recent insider transactions involving significant industry figures such as William H. Rastetter and Julie Cooke, underscores the confidence and optimism surrounding Neurocrine Biosciences. As the company continues to focus on developing groundbreaking treatments for neurological disorders and expanding its clinical programs, investors remain intrigued by its potential for growth and success in the pharmaceutical industry.
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Neurocrine Biosciences: A Growing Powerhouse in the Pharmaceutical Industry
[stock_market_widget type=”chart” template=”basic” color=”#3946CE” assets=”NBIX” range=”1mo” interval=”1d” axes=”true” cursor=”true” range_selector=”true” api=”yf”]Neurocrine Biosciences, Inc. is a prominent pharmaceutical company that specializes in the discovery, development, and marketing of pharmaceuticals for neurological, endocrine, and psychiatric disorders. With a diverse portfolio of treatments for ailments such as tardive dyskinesia, Parkinson’s disease, endometriosis, and uterine fibroids, Neurocrine Biosciences has established itself as a leader in the field of innovative therapeutics.
In recent months, several hedge funds have shown significant interest in Neurocrine Biosciences. The renowned investment firm Vanguard Group Inc. raised its position in the company by 1.1% during the third quarter. This move solidified Vanguard’s ownership of an impressive 9,000,963 shares of Neurocrine Biosciences stock valued at approximately $955,992,000.
Another notable investor is the Bank of New York Mellon Corp., which increased its holdings in Neurocrine Biosciences by 2.2% during the same period. The bank now possesses 1,740,955 shares of the company’s stock worth an estimated $184,908,000.
Not to be outdone, Renaissance Technologies LLC made its mark by raising its holdings in Neurocrine Biosciences by an impressive 11.9% during the fourth quarter. With this increase came an additional 171,200 shares now valued at $192,736 million.
Geode Capital Management LLC also joined this exclusive group of investors by increasing their holdings by 5.4% during Q4. Geode Capital Management now owns an estimated 1,388,695 shares worth around $165,685 million.
Lastly,Norges Bank bought a significant stake in Neurocrine Bioscience during Q4 with a value of approximately $111786 milion.The phenomenal growth and interest demonstrated by these institutional investors demonstrate the industry’s confidence in Neurocrine Biosciences and its potential for future success.
Analysts from UBS Group, a prominent investment bank, recently commented on Neurocrine Biosciences. Despite dropping the target price for the company’s shares from $137 to $125 per share, UBS reaffirmed a “buy” rating on the stock. Similarly, Canaccord Genuity Group raised their previously held “hold” rating to a “buy” rating and increased their target price for the stock from $124 to $132 per share.
However,Mizuho dropped their target price on Neurocrine Biosciences’ shares from $116 to $111. This was followed by Wedbush lowering their target price from $131 to $128 but still maintained an “outperform” rating. Finally, TheStreet downgraded the company’s stock from a “b” rating to a “c” rating.
Currently, Neurocrine Biosciences has received five hold ratings, twelve buy ratings, and one strong buy rating based on Bloomberg data. The consensus among analysts places the company as a “Moderate Buy” with an average target price of $125.10 per share.
On Thursday,the stocks opened at $94.82.Sitting below its 50-day simple moving average of $96.42 and 200-day simple moving average of %103.05,the company has faced some difficulties in recent times.Due to its current financial structure with a debt-to-equity ratio of 0.10,the firm boasts credibility within its sector.Given these figures along with an impressive market cap of %9.25 billion and P/E ratio of 158.04,it is clear that Neurocrine Biosciences remains an intriguing prospect in the pharmaceutical industry.
Neurocrine Biosciences last reported its earnings results on May 3rd.The company underwhelmed with earnings per share of ($0.79) for the quarter.This figure missed the consensus estimate of $0.26 by a significant margin, amounting to a difference of $1.05.Notably,the company achieved a return on equity of 4.03% along with a modest net margin of 4.00%. Furthermore,the company generated revenue of $420.40 million in Q1, exceeding the consensus estimate of $412.96 million.
With such strong fundamentals and exciting prospects, analysts predict that Neurocrine Biosciences will post an impressive EPS of 1.82 for the current fiscal year.In light of this information, it is evident that Neurocrine Biosciences is poised for further growth and success within the pharmaceutical industry, making it an enticing prospect for both investors and those seeking effective treatments for various neurological disorders.
