Intech Investment Management LLC Sells 82,590 Shares of Neurocrine Biosciences, Inc. $NBIX

Key Points

• Intech Investment Management LLC has reduced its stake in Neurocrine Biosciences by 69.7%, currently holding a stake valued at approximately $3.96 million.
• Neurocrine Biosciences reported a 16.5% year-over-year increase in revenue for the recent quarter, totaling $687.5 million, and exceeding EPS expectations.
• Institutional investors own over 92% of Neurocrine Biosciences, indicating strong institutional confidence in the company.

Intech Investment Management LLC cut its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 69.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,824 shares of the company's stock after selling 82,590 shares during the period. Intech Investment Management LLC's holdings in Neurocrine Biosciences were worth $3,962,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. WPG Advisers LLC acquired a new position in Neurocrine Biosciences in the 1st quarter valued at $32,000. Smallwood Wealth Investment Management LLC acquired a new position in shares of Neurocrine Biosciences during the 1st quarter worth $34,000. SVB Wealth LLC acquired a new position in shares of Neurocrine Biosciences during the 1st quarter worth $35,000. Golden State Wealth Management LLC raised its holdings in shares of 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 buying an additional 214 shares in the last quarter. Finally, Versant Capital Management Inc raised its holdings in shares of Neurocrine Biosciences by 404.9% during the 1st quarter. Versant Capital Management Inc now owns 409 shares of the company's stock worth $45,000 after buying an additional 328 shares in the last quarter. 92.59% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Neurocrine Biosciences

In other Neurocrine Biosciences news, Director Kevin Charles Gorman sold 106,322 shares of the company's stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $126.41, for a total value of $13,440,164.02. Following the sale, the director owned 514,596 shares in the company, valued at approximately $65,050,080.36. The trade was a 17.12% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jude Onyia sold 59,819 shares of the company's stock in a transaction dated Wednesday, July 9th. The shares were sold at an average price of $130.46, for a total value of $7,803,986.74. Following the completion of the sale, the insider owned 18,289 shares in the company, valued at $2,385,982.94. This trade represents a 76.58% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 186,960 shares of company stock worth $23,955,553. Insiders own 4.80% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on NBIX shares. UBS Group boosted their price target on Neurocrine Biosciences from $152.00 to $174.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Stifel Nicolaus boosted their price target on Neurocrine Biosciences from $166.00 to $174.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Wall Street Zen raised Neurocrine Biosciences from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 2nd. Morgan Stanley boosted their price target on Neurocrine Biosciences from $158.00 to $163.00 and gave the stock an "overweight" rating in a report on Friday, September 5th. Finally, Guggenheim upped their target price on Neurocrine Biosciences from $165.00 to $175.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Seventeen 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 has an average rating of "Moderate Buy" and an average price target of $160.26.

Neurocrine Biosciences Trading Up 1.6%

NBIX traded up $2.27 on Thursday, reaching $145.00. The stock had a trading volume of 232,261 shares, compared to its average volume of 1,204,105. Neurocrine Biosciences, Inc. has a fifty-two week low of $84.23 and a fifty-two week high of $154.61. The firm has a 50-day moving average of $134.81 and a 200-day moving average of $121.64. The company has a market capitalization of $14.38 billion, a price-to-earnings ratio of 42.88, a price-to-earnings-growth ratio of 1.02 and a beta of 0.28.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $1.06 earnings per share (EPS) 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 during the quarter, compared to analysts' expectations of $653.09 million. During the same quarter in the prior year, the firm earned $1.63 EPS. The business's revenue for the quarter was up 16.5% compared to the same quarter last year. Sell-side analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

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.