Federation des caisses Desjardins du Quebec Cuts Holdings in Neurocrine Biosciences, Inc. $NBIX

Key Points

• Federation des caisses Desjardins du Quebec reduced its holdings in Neurocrine Biosciences by 9.0%, owning 115,660 shares valued at approximately $12.8 million after selling 11,507 shares.
• Other institutional investors such as American Century Companies Inc. increased their holdings significantly, with a 106.6% increase resulting in a total of 191,182 shares valued at $21.1 million.
• Neurocrine Biosciences reported quarterly earnings of $1.06 EPS, surpassing expectations and showing a 16.5% year-over-year revenue increase with revenues totaling $687.5 million.

Federation des caisses Desjardins du Quebec decreased its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 9.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 115,660 shares of the company's stock after selling 11,507 shares during the period. Federation des caisses Desjardins du Quebec owned approximately 0.12% of Neurocrine Biosciences worth $12,793,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Y Intercept Hong Kong Ltd purchased a new position in shares of Neurocrine Biosciences during the first quarter valued at about $1,460,000. Golden State Wealth Management LLC grew its position in shares of Neurocrine Biosciences by 116.9% during the first quarter. Golden State Wealth Management LLC now owns 397 shares of the company's stock valued at $44,000 after purchasing an additional 214 shares in the last quarter. Fifth Third Bancorp grew its position in shares of Neurocrine Biosciences by 31.7% during the first quarter. Fifth Third Bancorp now owns 1,056 shares of the company's stock valued at $117,000 after purchasing an additional 254 shares in the last quarter. Cetera Investment Advisers grew its position in shares of Neurocrine Biosciences by 46.5% during the fourth quarter. Cetera Investment Advisers now owns 8,169 shares of the company's stock valued at $1,115,000 after purchasing an additional 2,593 shares in the last quarter. Finally, American Century Companies Inc. lifted its holdings in shares of Neurocrine Biosciences by 106.6% in the 1st quarter. American Century Companies Inc. now owns 191,182 shares of the company's stock valued at $21,145,000 after acquiring an additional 98,659 shares during the last quarter. Hedge funds and other institutional investors own 92.59% of the company's stock.

Neurocrine Biosciences Price Performance

Shares of NASDAQ NBIX opened at $141.92 on Wednesday. The company has a market cap of $14.08 billion, a P/E ratio of 41.99, a PEG ratio of 1.01 and a beta of 0.28. Neurocrine Biosciences, Inc. has a 1 year low of $84.23 and a 1 year high of $154.61. The firm has a 50-day simple moving average of $131.81 and a two-hundred day simple moving average of $119.77.

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

Insiders Place Their Bets

In other Neurocrine Biosciences news, Director Kevin Charles Gorman sold 106,322 shares of the firm's stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $126.41, for a total value of $13,440,164.02. Following the completion of the sale, the director owned 514,596 shares of the company's stock, valued at $65,050,080.36. This trade represents a 17.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ingrid Delaet sold 457 shares of the firm's stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $135.00, for a total transaction of $61,695.00. Following the completion of the sale, the insider directly owned 4,730 shares of the company's stock, valued at approximately $638,550. The trade was a 8.81% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 186,960 shares of company stock valued at $23,955,553 over the last 90 days. Insiders own 4.30% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. BMO Capital Markets lifted their price target on Neurocrine Biosciences from $96.00 to $115.00 and gave the stock a "market perform" rating in a research report on Tuesday, May 6th. Guggenheim lifted their price target on Neurocrine Biosciences from $165.00 to $175.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Canaccord Genuity Group lifted their price target on Neurocrine Biosciences from $158.00 to $160.00 and gave the stock a "buy" rating in a research report on Tuesday, May 6th. Wall Street Zen upgraded Neurocrine Biosciences from a "hold" rating to a "strong-buy" rating in a research report on Saturday, August 2nd. Finally, JPMorgan Chase & Co. lifted their price target on Neurocrine Biosciences from $140.00 to $145.00 and gave the stock a "neutral" rating in a research report on Thursday, July 31st. Eighteen equities research analysts have rated the stock with a Buy rating and three have issued 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.

About Neurocrine Biosciences

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.

Want to see what other hedge funds are holding NBIX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.