Andra AP fonden Lowers Holdings in Neurocrine Biosciences, Inc. $NBIX

Key Points

• Andra AP fonden cut its Neurocrine Biosciences stake by 57.4% in the second quarter, selling 85,000 shares and retaining 63,191 shares valued at approximately $10.65 million.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $201.09; 92.59% of the stock is owned by institutional investors.
• Neurocrine reported strong quarterly results, with earnings of $2.85 per share and revenue of $959 million, up 39.5% year over year and above analyst expectations.

Andra AP fonden trimmed its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 57.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 63,191 shares of the company's stock after selling 85,000 shares during the period. Andra AP fonden owned 0.06% of Neurocrine Biosciences worth $10,650,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. NewEdge Advisors LLC boosted its stake in shares of Neurocrine Biosciences by 0.5% in the 1st quarter. NewEdge Advisors LLC now owns 13,066 shares of the company's stock valued at $1,721,000 after purchasing an additional 68 shares in the last quarter. Huntington National Bank boosted its holdings in shares of Neurocrine Biosciences by 12.6% during the 4th quarter. Huntington National Bank now owns 678 shares of the company's stock valued at $96,000 after acquiring an additional 76 shares during the last quarter. Motley Fool Asset Management LLC increased its position in shares of Neurocrine Biosciences by 4.8% during the 4th quarter. Motley Fool Asset Management LLC now owns 1,693 shares of the company's stock valued at $240,000 after purchasing an additional 78 shares during the last quarter. Main Management ETF Advisors LLC raised its holdings in Neurocrine Biosciences by 1.0% in the 4th quarter. Main Management ETF Advisors LLC now owns 7,830 shares of the company's stock worth $1,111,000 after purchasing an additional 80 shares during the period. Finally, Westpac Banking Corp increased its holdings in Neurocrine Biosciences by 6.0% in the 1st quarter. Westpac Banking Corp now owns 1,615 shares of the company's stock worth $213,000 after acquiring an additional 91 shares in the last quarter. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on NBIX shares. Royal Bank Of Canada restated an "outperform" rating and issued a $198.00 price target on shares of Neurocrine Biosciences in a research report on Tuesday, September 8th. Wedbush raised their price objective on Neurocrine Biosciences from $185.00 to $194.00 and gave the company an "outperform" rating in a research report on Monday, August 3rd. Wells Fargo & Company upped their price objective on shares of Neurocrine Biosciences from $175.00 to $200.00 and gave the company an "overweight" rating in a report on Friday, July 17th. Mizuho raised shares of Neurocrine Biosciences to a "hold" rating in a research report on Wednesday, September 16th. Finally, Citigroup upped their price objective on shares of Neurocrine Biosciences from $249.00 to $253.00 and gave the stock a "buy" rating in a research report on Thursday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $201.09.

Neurocrine Biosciences Price Performance

Shares of Neurocrine Biosciences stock opened at $142.25 on Wednesday. The business has a 50-day moving average of $160.61 and a 200 day moving average of $152.25. The stock has a market capitalization of $14.46 billion, a price-to-earnings ratio of 20.86, a price-to-earnings-growth ratio of 0.67 and a beta of 0.38. Neurocrine Biosciences, Inc. has a 12 month low of $122.14 and a 12 month high of $186.12.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last released its quarterly earnings data 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 net margin of 20.91% and a return on equity of 22.43%. The business had revenue of $959.00 million for the quarter, compared to analyst estimates of $891.16 million. During the same period in the previous year, the firm earned $1.65 EPS. The business's revenue for the quarter was up 39.5% compared to the same quarter last year. Equities research analysts anticipate that Neurocrine Biosciences, Inc. will post 7.26 earnings per share for the current year.

Insider Buying and Selling

In other Neurocrine Biosciences news, insider Ingrid Delaet sold 4,367 shares of the firm's stock in a transaction on Friday, July 10th. The stock was sold at an average price of $181.02, for a total value of $790,514.34. Following the sale, the insider directly owned 16,225 shares in the company, valued at approximately $2,937,049.50. This trade represents a 21.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Matt Abernethy sold 2,311 shares of the firm's stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $157.20, for a total transaction of $363,289.20. Following the transaction, the chief financial officer directly owned 42,808 shares in the company, valued at approximately $6,729,417.60. The trade was a 5.12% decrease in their position. The SEC filing for this sale provides additional information. 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. Over the last three months, insiders have sold 43,325 shares of company stock valued at $7,611,976. 4.60% of the stock is owned by insiders.

Neurocrine Biosciences Company Profile

Neurocrine Biosciences, Inc is a biopharmaceutical company focused on discovering, developing and commercializing medicines for neurological, neuroendocrine and psychiatric disorders. The company develops therapies for conditions with significant unmet medical needs, using expertise in neuroscience and endocrine biology.

Its primary commercial product is INGREZZA (valbenazine), a vesicular monoamine transporter 2 inhibitor approved in the United States for the treatment of tardive dyskinesia and chorea associated with Huntington's disease.

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