APG Asset Management N.V. Sells 2,247 Shares of Neurocrine Biosciences, Inc. $NBIX

Key Points

• APG Asset Management N.V. reduced its stake in Neurocrine Biosciences by 3.7%, owning approximately 57,942 shares worth about $5.93 million after selling 2,247 shares in Q1.
• Neurocrine Biosciences received several price target upgrades from analysts, with Morgan Stanley increasing their target from $150 to $158, reflecting a generally optimistic sentiment towards the stock.
• Insider transactions indicate significant selling activity, with director Kevin Charles Gorman selling 106,322 shares for over $13 million, contributing to a total of 186,960 shares sold by insiders in the last ninety days.

APG Asset Management N.V. lessened its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 3.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 57,942 shares of the company's stock after selling 2,247 shares during the period. APG Asset Management N.V. owned approximately 0.06% of Neurocrine Biosciences worth $5,933,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP lifted its stake in Neurocrine Biosciences by 44.0% in the 1st quarter. Wellington Management Group LLP now owns 2,097,981 shares of the company's stock valued at $232,037,000 after purchasing an additional 640,556 shares during the last quarter. Orbimed Advisors LLC lifted its stake in Neurocrine Biosciences by 210.4% in the 4th quarter. Orbimed Advisors LLC now owns 938,120 shares of the company's stock valued at $128,053,000 after purchasing an additional 635,900 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in Neurocrine Biosciences by 1,405.2% in the 1st quarter. Assenagon Asset Management S.A. now owns 393,455 shares of the company's stock valued at $43,516,000 after purchasing an additional 367,315 shares during the last quarter. Iron Triangle Partners LP bought a new position in Neurocrine Biosciences in the 4th quarter valued at approximately $43,434,000. Finally, Nuveen LLC bought a new position in Neurocrine Biosciences in the 1st quarter valued at approximately $31,686,000. Institutional investors own 92.59% of the company's stock.

Insiders Place Their Bets

In other Neurocrine Biosciences news, insider Ingrid Delaet sold 457 shares of the firm's stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $135.00, for a total value of $61,695.00. Following the completion of the sale, the insider directly owned 4,730 shares in the company, valued at approximately $638,550. This trade represents a 8.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jude Onyia sold 59,819 shares of the firm's stock in a transaction on Wednesday, July 9th. The stock was sold at an average price of $130.46, for a total transaction of $7,803,986.74. Following the completion of the sale, the insider owned 18,289 shares of the company's stock, valued at $2,385,982.94. The trade was a 76.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 186,960 shares of company stock worth $23,955,553. 4.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

NBIX has been the subject of several research reports. Wedbush increased their price objective on shares of Neurocrine Biosciences from $137.00 to $141.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. Wall Street Zen raised shares of Neurocrine Biosciences from a "hold" rating to a "strong-buy" rating in a research note on Saturday, August 2nd. Piper Sandler increased their price objective on shares of Neurocrine Biosciences from $154.00 to $175.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Needham & Company LLC upped their price target on shares of Neurocrine Biosciences from $138.00 to $139.00 and gave the company a "buy" rating in a research report on Tuesday, May 6th. Finally, UBS Group upped their price target on shares of Neurocrine Biosciences from $152.00 to $174.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. Eighteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $159.50.

Neurocrine Biosciences Stock Up 0.5%

NASDAQ NBIX traded up $0.66 on Friday, hitting $139.60. The company's stock had a trading volume of 503,700 shares, compared to its average volume of 846,176. Neurocrine Biosciences, Inc. has a 1-year low of $84.23 and a 1-year high of $154.61. The company's 50-day moving average is $131.26 and its 200 day moving average is $119.42. The firm has a market cap of $13.85 billion, a PE ratio of 41.30, a PEG ratio of 1.01 and a beta of 0.25.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.08. Neurocrine Biosciences had a net margin of 13.88% and a return on equity of 13.22%. The company had revenue of $687.50 million during the quarter, compared to analysts' expectations of $653.09 million. During the same period in the prior year, the company posted $1.63 earnings per share. Neurocrine Biosciences's revenue for the quarter was up 16.5% compared to the same quarter last year. On average, equities analysts expect that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

Neurocrine Biosciences Company Profile

Neurocrine Biosciences, Inc discovers, develops, and markets pharmaceuticals for neurological, neuroendocrine, and neuropsychiatric disorders in the United States and internationally. The company's products include INGREZZA for tardive dyskinesia and chorea associated with Huntington's disease; ALKINDI for adrenal insufficiency; Efmody capsules for classic congenital adrenal hyperplasia; Orilissa tablets for endometriosis; and Oriahnn capsules to treat uterine fibroids.