Azimuth Capital Investment Management LLC Has $8.77 Million Stake in Neurocrine Biosciences, Inc. $NBIX

Key Points

• Azimuth Capital Investment Management LLC has reduced its stake in Neurocrine Biosciences by 31.2%, selling 35,990 shares to hold 79,318 shares worth approximately $8.77 million.
• Despite insider selling activity, Neurocrine Biosciences reported $1.06 earnings per share for the last quarter, surpassing analysts' expectations, and its revenue increased by 16.5% year-over-year.
• Wall Street analysts show mixed sentiment with 19 buy ratings and a consensus price target of $160.90 for Neurocrine Biosciences, reflecting ongoing investor interest.

Azimuth Capital Investment Management LLC decreased its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 31.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 79,318 shares of the company's stock after selling 35,990 shares during the period. Azimuth Capital Investment Management LLC owned approximately 0.08% of Neurocrine Biosciences worth $8,773,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. AQR Capital Management LLC raised its stake in Neurocrine Biosciences by 2.9% in the 4th quarter. AQR Capital Management LLC now owns 1,896,891 shares of the company's stock worth $258,926,000 after purchasing an additional 53,610 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Neurocrine Biosciences by 19.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,070,096 shares of the company's stock worth $146,068,000 after purchasing an additional 175,879 shares during the period. Northern Trust Corp increased its holdings in shares of Neurocrine Biosciences by 27.3% during the fourth quarter. Northern Trust Corp now owns 981,939 shares of the company's stock worth $134,035,000 after purchasing an additional 210,315 shares during the period. Orbimed Advisors LLC raised its position in shares of Neurocrine Biosciences by 210.4% in the fourth quarter. Orbimed Advisors LLC now owns 938,120 shares of the company's stock valued at $128,053,000 after buying an additional 635,900 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Neurocrine Biosciences by 1.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 775,773 shares of the company's stock valued at $85,800,000 after buying an additional 13,216 shares during the period. Institutional investors own 92.59% of the company's stock.

Neurocrine Biosciences Stock Up 0.3%

Shares of NASDAQ:NBIX traded up $0.42 during trading on Wednesday, hitting $133.23. 518,762 shares of the company were exchanged, compared to its average volume of 1,077,298. Neurocrine Biosciences, Inc. has a 1-year low of $84.23 and a 1-year high of $154.87. The company has a market capitalization of $13.21 billion, a P/E ratio of 39.42, a price-to-earnings-growth ratio of 0.96 and a beta of 0.25. The business's 50 day moving average is $129.70 and its 200-day moving average is $119.44.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $1.06 earnings per share for the quarter, topping analysts' consensus estimates of $0.98 by $0.08. Neurocrine Biosciences had a return on equity of 13.22% and a net margin of 13.88%.The business had revenue of $687.50 million for the quarter, compared to analyst estimates of $653.09 million. During the same quarter in the previous year, the company posted $1.63 EPS. Neurocrine Biosciences's quarterly revenue was up 16.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on NBIX shares. HC Wainwright lowered their price objective on Neurocrine Biosciences from $185.00 to $168.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Royal Bank Of Canada cut their target price on Neurocrine Biosciences from $146.00 to $144.00 and set an "outperform" rating for the company in a research report on Thursday, July 31st. UBS Group raised their price target on Neurocrine Biosciences from $152.00 to $174.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Piper Sandler upped their price objective on shares of Neurocrine Biosciences from $154.00 to $175.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Finally, Stifel Nicolaus increased their price objective on shares of Neurocrine Biosciences from $166.00 to $174.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Eighteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, Neurocrine Biosciences presently has a consensus rating of "Moderate Buy" and a consensus target price of $159.50.

Insider Transactions at Neurocrine Biosciences

In other Neurocrine Biosciences news, insider Jude Onyia sold 59,819 shares of Neurocrine Biosciences stock in a transaction dated 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 transaction, the insider directly owned 18,289 shares of the company's stock, valued at approximately $2,385,982.94. The trade was a 76.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ingrid Delaet sold 457 shares of the company's stock in a transaction dated 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 owned 4,730 shares in the company, valued at $638,550. This trade represents a 8.81% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 196,573 shares of company stock worth $25,112,766. Company insiders own 4.80% of the company's stock.

Neurocrine Biosciences 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.