Burney Co. Cuts Stock Holdings in Neurocrine Biosciences, Inc. $NBIX

Key Points

• Burney Co. cut its stake in Neurocrine Biosciences (NBIX) by 69.9% in Q4, selling 20,135 shares and leaving it with 8,690 shares worth about $1.23 million.
• CEO Kyle Gano sold 36,400 shares on Jan 16 for roughly $4.83 million (avg $132.70), reducing his holding by 20.59%, and corporate insiders now own about 4.30% of the stock.
• Neurocrine reported Q4 EPS of $1.88 (missing estimates of $2.36) while revenue was $805.5M, up 28.3% YoY; analysts rate the stock a Moderate Buy with an average price target of $181.20.

Burney Co. reduced its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 69.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,690 shares of the company's stock after selling 20,135 shares during the period. Burney Co.'s holdings in Neurocrine Biosciences were worth $1,233,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. USA Financial Formulas acquired a new position in shares of Neurocrine Biosciences during the 4th quarter worth approximately $25,000. Golden State Wealth Management LLC boosted its holdings in shares of Neurocrine Biosciences by 120.5% during the 3rd quarter. Golden State Wealth Management LLC now owns 183 shares of the company's stock worth $26,000 after purchasing an additional 100 shares during the last quarter. Eastern Bank acquired a new position in shares of Neurocrine Biosciences during the 3rd quarter worth approximately $27,000. Geneos Wealth Management Inc. boosted its holdings in shares of Neurocrine Biosciences by 143.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 229 shares of the company's stock worth $25,000 after purchasing an additional 135 shares during the last quarter. Finally, Quent Capital LLC acquired a new position in shares of Neurocrine Biosciences during the 3rd quarter worth approximately $32,000. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Neurocrine Biosciences Stock Performance

NBIX opened at $126.32 on Tuesday. Neurocrine Biosciences, Inc. has a one year low of $92.31 and a one year high of $160.18. The stock has a market capitalization of $12.68 billion, a PE ratio of 27.11, a P/E/G ratio of 0.67 and a beta of 0.35. The business's 50 day moving average price is $130.94 and its 200 day moving average price is $138.48.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last released its quarterly earnings data on Wednesday, February 11th. The company reported $1.88 EPS for the quarter, missing analysts' consensus estimates of $2.36 by ($0.48). Neurocrine Biosciences had a net margin of 16.73% and a return on equity of 16.48%. The business had revenue of $805.50 million during the quarter, compared to analyst estimates of $804.21 million. During the same quarter in the prior year, the company posted $1.69 earnings per share. The company's revenue was up 28.3% on a year-over-year basis. As a group, equities research analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Kyle Gano sold 36,400 shares of the company's stock in a transaction that occurred on Friday, January 16th. The stock was sold at an average price of $132.70, for a total value of $4,830,280.00. Following the transaction, the chief executive officer directly owned 140,407 shares in the company, valued at approximately $18,632,008.90. This represents a 20.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 4.30% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on NBIX. JPMorgan Chase & Co. boosted their target price on Neurocrine Biosciences from $176.00 to $177.00 and gave the stock an "overweight" rating in a report on Thursday, March 12th. Citigroup boosted their target price on Neurocrine Biosciences from $204.00 to $242.00 and gave the stock a "buy" rating in a report on Tuesday, April 7th. BMO Capital Markets lowered their target price on Neurocrine Biosciences from $147.00 to $140.00 and set a "market perform" rating on the stock in a report on Thursday, February 12th. Wolfe Research began coverage on Neurocrine Biosciences in a report on Tuesday, February 24th. They set an "outperform" rating and a $160.00 target price on the stock. Finally, Wells Fargo & Company lowered their target price on Neurocrine Biosciences from $180.00 to $175.00 and set an "overweight" rating on the stock in a report on Friday, February 13th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $181.20.

About Neurocrine Biosciences

Neurocrine Biosciences NASDAQ: NBIX is a biopharmaceutical company based in San Diego, California, focused on developing treatments for neurological, endocrine and neuropsychiatric disorders. Since its founding in 1992, the company has pursued a research‐driven strategy aimed at addressing unmet medical needs in movement disorders, reproductive health and central nervous system conditions. Neurocrine's operations encompass drug discovery, clinical development and commercialization activities.

The company's lead marketed product, Ingrezza™ (valbenazine), is indicated for the treatment of tardive dyskinesia, a movement disorder associated with long-term antipsychotic use.

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