Juncture Wealth Strategies LLC Sells 2,766 Shares of Neurocrine Biosciences, Inc. $NBIX

Key Points

• Juncture Wealth Strategies LLC decreased its stake in Neurocrine Biosciences by 41%, selling 2,766 shares and ending with a total of 3,987 shares valued at approximately $501,000.
• Institutional investors own 92.59% of Neurocrine Biosciences, with several firms, including Dodge & Cox, significantly increasing their holdings during the first quarter.
• Analysts have set a consensus price target of $160.00 for Neurocrine Biosciences, with 18 analysts rating the stock as a Buy.

Juncture Wealth Strategies LLC lowered its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 41.0% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,987 shares of the company's stock after selling 2,766 shares during the period. Juncture Wealth Strategies LLC's holdings in Neurocrine Biosciences were worth $501,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. grew its stake in shares of Neurocrine Biosciences by 143.6% in the first 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. WPG Advisers LLC purchased a new stake in Neurocrine Biosciences in the 1st quarter worth about $32,000. Smallwood Wealth Investment Management LLC bought a new position in Neurocrine Biosciences in the 1st quarter worth about $34,000. SVB Wealth LLC purchased a new position in shares of Neurocrine Biosciences during the first quarter worth $35,000. Finally, Golden State Wealth Management LLC raised its holdings 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 worth $44,000 after purchasing an additional 214 shares during the last quarter. Institutional investors and hedge funds own 92.59% of the company's stock.

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 value of $7,803,986.74. Following the sale, the insider owned 18,289 shares of the company's stock, valued at $2,385,982.94. This trade represents a 76.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ingrid Delaet sold 457 shares of the firm's 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 transaction, the insider directly owned 4,730 shares in the company, valued at approximately $638,550. The trade was a 8.81% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 186,960 shares of company stock worth $23,955,553. 4.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

NBIX has been the topic of a number of recent research reports. UBS Group lifted their price target on shares of Neurocrine Biosciences from $152.00 to $174.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. Stifel Nicolaus raised their target price on Neurocrine Biosciences from $166.00 to $174.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Guggenheim increased their target price on shares of Neurocrine Biosciences from $165.00 to $175.00 and gave the stock a "buy" rating in a report on Friday, August 1st. JPMorgan Chase & Co. upped their target price on Neurocrine Biosciences from $140.00 to $145.00 and gave the company a "neutral" rating in a research report on Thursday, July 31st. Finally, The Goldman Sachs Group initiated coverage on Neurocrine Biosciences in a research note on Thursday, July 10th. They issued a "buy" rating and a $182.00 price objective for the company. Seventeen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $160.26.

Neurocrine Biosciences Stock Down 1.2%

Shares of Neurocrine Biosciences stock traded down $1.82 during mid-day trading on Friday, hitting $143.85. The stock had a trading volume of 369,799 shares, compared to its average volume of 1,202,573. The firm has a market cap of $14.27 billion, a P/E ratio of 42.54, a price-to-earnings-growth ratio of 1.03 and a beta of 0.28. The firm has a 50-day moving average of $135.03 and a two-hundred day moving average of $121.85. Neurocrine Biosciences, Inc. has a 12-month low of $84.23 and a 12-month high of $154.61.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $1.06 EPS for the quarter, beating analysts' consensus estimates 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%. Neurocrine Biosciences's quarterly revenue was up 16.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.63 earnings per share. Sell-side analysts expect that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current 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.