Mutual of America Capital Management LLC Cuts Stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Key Points

• Mutual of America Capital Management LLC has reduced its holdings in Neurocrine Biosciences by 4.0%, maintaining ownership of 51,317 shares valued at approximately $5.68 million.
• Neurocrine Biosciences reported earnings of $1.06 per share for the last quarter, exceeding analyst expectations and demonstrating a 16.5% year-over-year revenue growth.
• Multiple analysts have issued positive ratings for Neurocrine Biosciences, with a consensus rating of "Moderate Buy" and an average target price of $160.90.

Mutual of America Capital Management LLC lowered its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 4.0% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 51,317 shares of the company's stock after selling 2,165 shares during the quarter. Mutual of America Capital Management LLC owned approximately 0.05% of Neurocrine Biosciences worth $5,676,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the business. Y Intercept Hong Kong Ltd purchased a new position in Neurocrine Biosciences in the 1st quarter valued at about $1,460,000. Golden State Wealth Management LLC lifted its position 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. Fifth Third Bancorp lifted its position in shares of Neurocrine Biosciences by 31.7% during the first quarter. Fifth Third Bancorp now owns 1,056 shares of the company's stock worth $117,000 after purchasing an additional 254 shares during the last quarter. Cetera Investment Advisers lifted its holdings in Neurocrine Biosciences by 46.5% in the fourth quarter. Cetera Investment Advisers now owns 8,169 shares of the company's stock worth $1,115,000 after acquiring an additional 2,593 shares during the last quarter. Finally, LPL Financial LLC lifted its holdings in Neurocrine Biosciences by 27.8% in the fourth quarter. LPL Financial LLC now owns 16,754 shares of the company's stock worth $2,287,000 after acquiring an additional 3,643 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Neurocrine Biosciences Price Performance

Shares of NASDAQ NBIX traded down $0.59 during trading on Friday, hitting $125.01. The stock had a trading volume of 1,048,379 shares, compared to its average volume of 1,013,648. Neurocrine Biosciences, Inc. has a 12 month low of $84.23 and a 12 month high of $154.87. The company has a market capitalization of $12.40 billion, a PE ratio of 36.99, a PEG ratio of 0.90 and a beta of 0.25. The firm has a fifty day moving average of $128.72 and a two-hundred day moving average of $120.29.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last issued 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 firm had revenue of $687.50 million during 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 company's quarterly revenue was up 16.5% on a year-over-year basis. During the same quarter last year, the business earned $1.63 earnings per share. On average, equities analysts expect that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. JPMorgan Chase & Co. raised their price objective on shares of Neurocrine Biosciences from $140.00 to $145.00 and gave the company a "neutral" rating in a research note on Thursday, July 31st. HC Wainwright decreased their price objective on shares of Neurocrine Biosciences from $185.00 to $168.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Morgan Stanley raised their price objective on shares of Neurocrine Biosciences from $150.00 to $158.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. Piper Sandler lifted their target price on shares of Neurocrine Biosciences from $154.00 to $175.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Finally, Needham & Company LLC lifted their target price on shares of Neurocrine Biosciences from $138.00 to $139.00 and gave the company a "buy" rating in a research note on Tuesday, May 6th. Three equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Neurocrine Biosciences has a consensus rating of "Moderate Buy" and a consensus price target of $160.90.

Insider Transactions at Neurocrine Biosciences

In related news, insider Jude Onyia sold 59,819 shares of the business's stock in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $130.46, for a total transaction of $7,803,986.74. Following the transaction, the insider owned 18,289 shares in the company, valued at $2,385,982.94. The trade was a 76.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Ingrid Delaet sold 457 shares of the business's stock in a transaction 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 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 90,251 shares of company stock valued at $11,672,602. 4.80% of the stock is currently owned by corporate insiders.

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.