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 lessened its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 41.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,987 shares of the company's stock after selling 2,766 shares during the quarter. Juncture Wealth Strategies LLC's holdings in Neurocrine Biosciences were worth $501,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Dodge & Cox lifted its position in shares of Neurocrine Biosciences by 83.5% during the 1st quarter. Dodge & Cox now owns 5,534,624 shares of the company's stock worth $612,129,000 after buying an additional 2,518,199 shares during the period. Wellington Management Group LLP lifted its position in shares of Neurocrine Biosciences by 44.0% during the 1st quarter. Wellington Management Group LLP now owns 2,097,981 shares of the company's stock worth $232,037,000 after buying an additional 640,556 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Neurocrine Biosciences by 3.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,539,601 shares of the company's stock worth $170,281,000 after buying an additional 49,088 shares during the period. Braidwell LP lifted its position in shares of Neurocrine Biosciences by 32.2% during the 1st quarter. Braidwell LP now owns 1,191,925 shares of the company's stock worth $131,827,000 after buying an additional 290,135 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Neurocrine Biosciences by 8.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,159,367 shares of the company's stock worth $128,226,000 after buying an additional 89,271 shares during the period. Institutional investors own 92.59% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Truist Financial assumed coverage on Neurocrine Biosciences in a research report on Monday, July 21st. They issued a "buy" rating and a $163.00 price objective for the company. Stifel Nicolaus lifted their price objective on Neurocrine Biosciences from $166.00 to $174.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. JPMorgan Chase & Co. lifted their price objective on Neurocrine Biosciences from $140.00 to $145.00 and gave the company a "neutral" rating in a research report on Thursday, July 31st. UBS Group lifted their price objective on Neurocrine Biosciences from $152.00 to $174.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. Finally, The Goldman Sachs Group assumed coverage on Neurocrine Biosciences in a research report on Thursday, July 10th. They issued a "buy" rating and a $182.00 price objective for the company. Eighteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, Neurocrine Biosciences presently has an average rating of "Moderate Buy" and a consensus price target of $160.00.

Neurocrine Biosciences Stock Down 1.2%

NASDAQ:NBIX opened at $141.87 on Monday. The firm has a market capitalization of $14.07 billion, a price-to-earnings ratio of 41.97, a P/E/G ratio of 1.02 and a beta of 0.28. Neurocrine Biosciences, Inc. has a 12-month low of $84.23 and a 12-month high of $154.61. The stock's 50 day moving average price is $134.13 and its two-hundred day moving average price is $121.20.

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

Insider Transactions at Neurocrine Biosciences

In other news, Director Kevin Charles Gorman sold 106,322 shares of the stock in a transaction that occurred on Thursday, August 7th. The stock was 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 in the company, valued at approximately $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 accessible through this link. Also, insider Jude Onyia sold 59,819 shares of the stock in a transaction that occurred on Wednesday, July 9th. The stock was sold at an average price of $130.46, for a total value of $7,803,986.74. Following the transaction, the insider owned 18,289 shares in the company, valued at approximately $2,385,982.94. This trade represents a 76.58% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 186,960 shares of company stock worth $23,955,553. Company insiders own 4.80% of the company's stock.

Neurocrine Biosciences 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.

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