Pyrrho Capital Management Lp adds Neurocrine Biosciences (NBIX) to its portfolio

Neurocrine Biosciences (NBIX) : Pyrrho Capital Management Lp added new position in Neurocrine Biosciences during the most recent quarter end. The investment management firm now holds 25,800 shares of Neurocrine Biosciences which is valued at $1,413,066 , the company said in a statement filed on Nov 14, 2016 with the SEC.Neurocrine Biosciences makes up approximately 3.51% of Pyrrho Capital Management Lp’s portfolio.

Other Hedge Funds, Including , Cubist Systematic Strategies reduced its stake in NBIX by selling 22,552 shares or 81.81% in the most recent quarter. The Hedge Fund company now holds 5,013 shares of NBIX which is valued at $274,562. Neurocrine Biosciences makes up approx 0.02% of Cubist Systematic Strategies’s portfolio.Cadian Capital Management Lp reduced its stake in NBIX by selling 272,926 shares or 89.52% in the most recent quarter. The Hedge Fund company now holds 31,956 shares of NBIX which is valued at $1,693,348. Neurocrine Biosciences makes up approx 0.09% of Cadian Capital Management Lp’s portfolio.Blue Jay Capital Management reduced its stake in NBIX by selling 50,880 shares or 14.27% in the most recent quarter. The Hedge Fund company now holds 305,630 shares of NBIX which is valued at $16,195,334. Neurocrine Biosciences makes up approx 9.45% of Blue Jay Capital Management’s portfolio. Finemark National Bank Trust sold out all of its stake in NBIX during the most recent quarter. The investment firm sold 28 shares of NBIX which is valued $1,484.

Neurocrine Biosciences closed down -1.26 points or -2.41% at $51.01 with 6,48,876 shares getting traded on Monday. Post opening the session at $52.48, the shares hit an intraday low of $50.54 and an intraday high of $52.59 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Neurocrine Biosciences reported $-0.43 EPS for the quarter, beating the analyst consensus estimate by $ 0.14 according to the earnings call on Nov 2, 2016. Analyst had a consensus of $-0.57.During the same quarter in the previous year, the company posted $-0.40 EPS.

Many Wall Street Analysts have commented on Neurocrine Biosciences. Deutsche Bank Initiated Neurocrine Biosciences on Nov 3, 2016 to “Buy”, Price Target of the shares are set at $65.Needham Initiated Neurocrine Biosciences on Oct 18, 2016 to “Buy”, Price Target of the shares are set at $62.Leerink Partners Resumed Neurocrine Biosciences on Oct 4, 2016 to “Outperform”, Price Target of the shares are set at $70.

Neurocrine Biosciences Inc. is engaged in the development of pharmaceutical products focused on neurological and endocrine based diseases and disorders. The Company’s two lead late-stage clinical programs are elagolix a gonadotropin releasing hormone (GnRH) antagonist for women’s health that is partnered with AbbVie Inc. (AbbVie) and a vesicular monoamine transporter 2 (VMAT2) inhibitor for the treatment of movement disorders. elagolix is in clinical trials for the treatment of Endometriosis and Uterine Fibroids. VMAT2 (NBI-98854) is a VMAT2 inhibitor in clinical trials for the treatment of tardive dyskinesia. Corticotropin-Releasing Factor (CRF) receptor antagonist (NBI-77860) is indicated for the treatment of Classic Congenital Adrenal Hyperplasia. NBI-77860 is a selective orally-active non-peptide CRF receptor antagonist.

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