44,694 Neurocrine Biosciences, Inc. $NBIX Shares Sold by Curated Wealth Partners LLC

Key Points

• Curated Wealth Partners cut its Neurocrine Biosciences stake by 93.7%, selling 44,694 shares and retaining 3,021 shares worth approximately $428,000. Institutional investors collectively own 92.59% of NBIX.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $201.14, despite one firm downgrading the stock to “Hold.”
• Neurocrine reported strong quarterly results, posting $2.85 in earnings per share versus the $1.65 consensus estimate and revenue of $959 million, up 39.5% year over year.

Curated Wealth Partners LLC lowered its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 93.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,021 shares of the company's stock after selling 44,694 shares during the quarter. Curated Wealth Partners LLC's holdings in Neurocrine Biosciences were worth $428,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in NBIX. Signal Advisors Wealth LLC bought a new position in shares of Neurocrine Biosciences in the third quarter worth $216,000. GK Wealth Management LLC acquired a new position in Neurocrine Biosciences in the third quarter valued at about $61,000. Wedmont Private Capital lifted its position in Neurocrine Biosciences by 15.5% during the third quarter. Wedmont Private Capital now owns 1,936 shares of the company's stock worth $273,000 after purchasing an additional 260 shares during the period. GAMMA Investing LLC lifted its position in Neurocrine Biosciences by 3.9% during the third quarter. GAMMA Investing LLC now owns 3,858 shares of the company's stock worth $547,000 after purchasing an additional 144 shares during the period. Finally, Farther Finance Advisors LLC grew its stake in Neurocrine Biosciences by 37.4% during the third quarter. Farther Finance Advisors LLC now owns 3,438 shares of the company's stock worth $488,000 after buying an additional 935 shares in the last quarter. Institutional investors own 92.59% of the company's stock.

Insider Activity at Neurocrine Biosciences

In related news, insider David Boyer sold 826 shares of the company's stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $157.45, for a total transaction of $130,053.70. Following the completion of the transaction, the insider directly owned 8,722 shares in the company, valued at $1,373,278.90. This represents a 8.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Leslie V. Norwalk sold 1,250 shares of the firm's stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $182.01, for a total transaction of $227,512.50. Following the completion of the sale, the director owned 1,588 shares in the company, valued at $289,031.88. This represents a 44.05% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 4,387 shares of company stock valued at $720,855. 4.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on NBIX shares. Citigroup raised their target price on shares of Neurocrine Biosciences from $249.00 to $253.00 and gave the company a "buy" rating in a report on Thursday, September 3rd. Stifel Nicolaus upped their price target on shares of Neurocrine Biosciences from $188.00 to $215.00 and gave the stock a "buy" rating in a report on Friday, July 31st. Piper Sandler upped their price target on shares of Neurocrine Biosciences from $207.00 to $210.00 and gave the stock an "overweight" rating in a report on Friday, July 31st. Zacks Research lowered shares of Neurocrine Biosciences from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 4th. Finally, Morgan Stanley lifted their price objective on shares of Neurocrine Biosciences from $182.00 to $183.00 and gave the company an "equal weight" rating in a research note on Friday, September 11th. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $201.14.

Neurocrine Biosciences Stock Down 0.9%

NASDAQ:NBIX opened at $135.71 on Friday. Neurocrine Biosciences, Inc. has a twelve month low of $122.14 and a twelve month high of $186.12. The stock's 50-day simple moving average is $149.10 and its 200 day simple moving average is $153.45. The firm has a market capitalization of $13.79 billion, a PE ratio of 18.92, a price-to-earnings-growth ratio of 0.60 and a beta of 0.40.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last issued its earnings results on Friday, July 31st. The company reported $2.85 EPS for the quarter, topping the consensus estimate of $1.65 by $1.20. Neurocrine Biosciences had a return on equity of 22.43% and a net margin of 20.91%. The firm had revenue of $959.00 million during the quarter, compared to the consensus estimate of $891.16 million. During the same quarter in the previous year, the firm earned $1.65 earnings per share. The business's quarterly revenue was up 39.5% on a year-over-year basis. On average, analysts anticipate that Neurocrine Biosciences, Inc. will post 7.70 EPS for the current fiscal year.

About Neurocrine Biosciences

Neurocrine Biosciences, Inc is a biopharmaceutical company focused on discovering, developing and commercializing medicines for neurological, neuroendocrine and related disorders. The company is headquartered in San Diego, California, and conducts research through internal programs and collaborations with academic institutions and other pharmaceutical companies.

Neurocrine's principal commercial product is INGREZZA (valbenazine), a vesicular monoamine transporter 2 inhibitor used to treat tardive dyskinesia and chorea associated with Huntington's disease.

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