Fiera Capital Corp Reduces Holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Key Points

• Fiera Capital Corp reduced its stake in Neurocrine Biosciences by 0.9% in the first quarter, holding 494,475 shares valued at approximately $54.7 million.
• Neurocrine Biosciences reported earnings per share of $0.08, significantly missing the consensus estimate of $0.70, while revenues reached $572.6 million.
• Institutional ownership for Neurocrine Biosciences is high, with 92.59% of the company's stock held by hedge funds and other institutional investors.

Fiera Capital Corp trimmed its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 0.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 494,475 shares of the company's stock after selling 4,634 shares during the quarter. Fiera Capital Corp owned about 0.50% of Neurocrine Biosciences worth $54,689,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of NBIX. Dodge & Cox lifted its stake in Neurocrine Biosciences by 134.2% in the 4th quarter. Dodge & Cox now owns 3,016,425 shares of the company's stock worth $411,742,000 after purchasing an additional 1,728,605 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Neurocrine Biosciences by 102.9% during the 4th quarter. Wellington Management Group LLP now owns 1,457,425 shares of the company's stock worth $198,939,000 after buying an additional 739,199 shares during the last quarter. Orbimed Advisors LLC increased its holdings in shares of Neurocrine Biosciences by 210.4% during the 4th quarter. Orbimed Advisors LLC now owns 938,120 shares of the company's stock worth $128,053,000 after buying an additional 635,900 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Neurocrine Biosciences by 1,405.2% during the 1st quarter. Assenagon Asset Management S.A. now owns 393,455 shares of the company's stock worth $43,516,000 after buying an additional 367,315 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Neurocrine Biosciences during the 4th quarter worth approximately $44,403,000. 92.59% of the stock is owned by hedge funds and other institutional investors.

Neurocrine Biosciences Trading Down 0.1%

Shares of NBIX stock traded down $0.08 on Friday, reaching $128.15. 674,473 shares of the stock were exchanged, compared to its average volume of 1,293,520. The business's 50 day moving average price is $128.08 and its 200 day moving average price is $121.11. The company has a market capitalization of $12.68 billion, a price-to-earnings ratio of 37.93, a PEG ratio of 1.41 and a beta of 0.24. Neurocrine Biosciences, Inc. has a twelve month low of $84.23 and a twelve month high of $157.40.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $1.06 earnings per share for the quarter, beating analysts' consensus estimates of $0.98 by $0.08. Neurocrine Biosciences had a net margin of 13.88% and a return on equity of 13.32%. The firm had revenue of $687.50 million during the quarter, compared to analysts' expectations of $653.09 million. During the same period in the previous year, the company earned $1.63 earnings per share. Neurocrine Biosciences's quarterly revenue was up 16.5% compared to the same quarter last year. Equities research analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.

Insider Activity

In related news, insider Jude Onyia sold 59,819 shares of the stock in a transaction dated Wednesday, July 9th. The shares were sold at an average price of $130.46, for a total transaction of $7,803,986.74. Following the completion of the transaction, the insider directly owned 18,289 shares of the company's stock, valued at $2,385,982.94. This represents a 76.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Ingrid Delaet sold 457 shares of the stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $135.00, for a total transaction of $61,695.00. Following the completion of the transaction, the insider directly owned 4,730 shares of the company's stock, valued at approximately $638,550. This trade represents a 8.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 120,251 shares of company stock valued at $14,978,602. Company insiders own 4.80% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Stifel Nicolaus raised their price target on shares of Neurocrine Biosciences from $166.00 to $174.00 and gave the stock a "buy" rating in a report on Thursday. Truist Financial began coverage on shares of Neurocrine Biosciences in a report on Monday, July 21st. They set a "buy" rating and a $163.00 price target for the company. Wedbush lifted their target price on shares of Neurocrine Biosciences from $137.00 to $141.00 and gave the company an "outperform" rating in a report on Thursday. Guggenheim lifted their target price on shares of Neurocrine Biosciences from $165.00 to $175.00 and gave the company a "buy" rating in a report on Friday. Finally, JPMorgan Chase & Co. lifted their target price on shares of Neurocrine Biosciences from $140.00 to $145.00 and gave the company a "neutral" rating in a report on Thursday. Four analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. Based on data from MarketBeat.com, Neurocrine Biosciences presently has a consensus rating of "Moderate Buy" and an average price target of $164.00.

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.