Ieq Capital LLC Has $59.39 Million Holdings in Neurocrine Biosciences, Inc. $NBIX

Key Points

• Ieq Capital LLC reduced its stake in Neurocrine Biosciences by 3.7%, selling 20,887 shares and holding 537,017 shares valued at approximately $59.4 million at the end of the reporting period.
• Neurocrine Biosciences received strong ratings from various analysts, with Goldman Sachs giving it a "buy" rating and a target price of $182.00, and UBS raising their price objective to $174.00.
• The stock of Neurocrine Biosciences was reported to have increased by 2.1%, and it has a market cap of $13.57 billion, with a 12-month high of $154.61.

Ieq Capital LLC trimmed its stake 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 537,017 shares of the company's stock after selling 20,887 shares during the period. Ieq Capital LLC owned about 0.54% of Neurocrine Biosciences worth $59,394,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the stock. Y Intercept Hong Kong Ltd acquired a new position in Neurocrine Biosciences in the 1st quarter valued at $1,460,000. Golden State Wealth Management LLC boosted its position in Neurocrine Biosciences by 116.9% during the 1st quarter. Golden State Wealth Management LLC now owns 397 shares of the company's stock worth $44,000 after purchasing an additional 214 shares during the period. Fifth Third Bancorp lifted its holdings in Neurocrine Biosciences by 31.7% in the 1st quarter. Fifth Third Bancorp now owns 1,056 shares of the company's stock worth $117,000 after buying an additional 254 shares in the last quarter. Cetera Investment Advisers lifted its holdings in Neurocrine Biosciences by 46.5% in the 4th quarter. Cetera Investment Advisers now owns 8,169 shares of the company's stock worth $1,115,000 after buying an additional 2,593 shares in the last quarter. Finally, American Century Companies Inc. lifted its holdings in Neurocrine Biosciences by 106.6% in the 1st quarter. American Century Companies Inc. now owns 191,182 shares of the company's stock worth $21,145,000 after buying an additional 98,659 shares in the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Neurocrine Biosciences Price Performance

NASDAQ:NBIX traded up $0.66 during midday trading on Friday, reaching $139.60. The stock had a trading volume of 503,700 shares, compared to its average volume of 846,176. The stock has a market capitalization of $13.85 billion, a P/E ratio of 41.30, a PEG ratio of 1.01 and a beta of 0.25. The firm's fifty day simple moving average is $131.26 and its 200-day simple moving average is $119.42. Neurocrine Biosciences, Inc. has a 1-year low of $84.23 and a 1-year high of $154.61.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last posted its quarterly earnings results 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 company had revenue of $687.50 million for the quarter, compared to analyst estimates of $653.09 million. Neurocrine Biosciences had a net margin of 13.88% and a return on equity of 13.22%. The business's quarterly revenue was up 16.5% on a year-over-year basis. During the same period last year, the business posted $1.63 EPS. On average, equities research analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

Insider Activity at Neurocrine Biosciences

In related news, insider Ingrid Delaet sold 457 shares of the business's stock in a transaction that occurred on 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 sale, the insider directly owned 4,730 shares of the company's stock, valued at $638,550. The trade was a 8.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Kevin Charles Gorman sold 106,322 shares of the business's stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $126.41, for a total transaction of $13,440,164.02. Following the transaction, the director owned 514,596 shares of the company's stock, valued at approximately $65,050,080.36. This represents a 17.12% decrease in their position. The disclosure for this sale can be found here. Insiders sold 186,960 shares of company stock valued at $23,955,553 in the last ninety days. Insiders own 4.80% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on NBIX shares. The Goldman Sachs Group assumed coverage on shares of Neurocrine Biosciences in a research note on Thursday, July 10th. They issued a "buy" rating and a $182.00 target price on the stock. Guggenheim raised their target price on Neurocrine Biosciences from $165.00 to $175.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Wall Street Zen upgraded shares of Neurocrine Biosciences from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 2nd. UBS Group increased their price objective on shares of Neurocrine Biosciences from $152.00 to $174.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Finally, Royal Bank Of Canada reduced their target price on shares of Neurocrine Biosciences from $146.00 to $144.00 and set an "outperform" rating for the company in a 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. Based on data from MarketBeat, Neurocrine Biosciences presently has a consensus rating of "Moderate Buy" and a consensus price target of $159.50.

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.