Pacer Advisors Inc. Has $1.65 Million Holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Key Points

• Pacer Advisors Inc. significantly reduced its stake in Neurocrine Biosciences by 53.1%, selling 16,897 shares during the 1st quarter and retaining 14,940 shares valued at approximately $1.65 million.
• Despite reporting a quarterly revenue of $572.60 million, Neurocrine Biosciences missed earnings expectations with an EPS of $0.08, significantly below the consensus estimate of $0.70.
• Analysts have a positive outlook for Neurocrine, with 22 out of 25 giving it a "buy" rating and an average price target of $163.87.

Pacer Advisors Inc. trimmed its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 53.1% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,940 shares of the company's stock after selling 16,897 shares during the period. Pacer Advisors Inc.'s holdings in Neurocrine Biosciences were worth $1,652,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Huntington National Bank raised its stake in Neurocrine Biosciences by 73.5% during the 4th quarter. Huntington National Bank now owns 229 shares of the company's stock valued at $31,000 after purchasing an additional 97 shares during the last quarter. Smallwood Wealth Investment Management LLC acquired a new position in Neurocrine Biosciences during the 1st quarter valued at $34,000. GeoWealth Management LLC raised its stake in Neurocrine Biosciences by 65.4% during the 4th quarter. GeoWealth Management LLC now owns 258 shares of the company's stock valued at $35,000 after purchasing an additional 102 shares during the last quarter. Golden State Wealth Management LLC raised its stake in Neurocrine Biosciences by 116.9% during the 1st quarter. Golden State Wealth Management LLC now owns 397 shares of the company's stock valued at $44,000 after purchasing an additional 214 shares during the last quarter. Finally, Versant Capital Management Inc raised its stake in Neurocrine Biosciences by 404.9% during the 1st quarter. Versant Capital Management Inc now owns 409 shares of the company's stock valued at $45,000 after purchasing an additional 328 shares during the last quarter. 92.59% of the stock is owned by institutional investors.

Neurocrine Biosciences Stock Up 0.5%

NASDAQ:NBIX traded up $0.68 during mid-day trading on Friday, reaching $128.91. 1,395,006 shares of the company were exchanged, compared to its average volume of 901,206. Neurocrine Biosciences, Inc. has a 12 month low of $84.23 and a 12 month high of $157.40. The company has a fifty day moving average of $128.08 and a 200 day moving average of $121.11. The stock has a market cap of $12.79 billion, a PE ratio of 38.14, a PEG ratio of 1.32 and a beta of 0.25.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $1.06 EPS for the quarter, topping analysts' consensus estimates of $0.98 by $0.08. Neurocrine Biosciences had a net margin of 13.88% and a return on equity of 13.22%. The firm had revenue of $687.50 million for the quarter, compared to analyst estimates of $653.09 million. During the same quarter in the prior year, the firm earned $1.63 EPS. The company's revenue was up 16.5% on a year-over-year basis. On average, equities research analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

Insider Activity at Neurocrine Biosciences

In other Neurocrine Biosciences news, insider Ingrid Delaet sold 457 shares of the 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 sale, the insider owned 4,730 shares of the company's stock, valued at $638,550. This represents a 8.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William H. Rastetter sold 30,000 shares of the company's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $110.20, for a total transaction of $3,306,000.00. Following the transaction, the director owned 37,491 shares in the company, valued at approximately $4,131,508.20. The trade was a 44.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 120,251 shares of company stock worth $14,978,602 in the last quarter. Insiders own 4.80% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on NBIX. Truist Financial began coverage on shares of Neurocrine Biosciences in a research note on Monday, July 21st. They set a "buy" rating and a $163.00 target price for the company. UBS Group upped their target price on shares of Neurocrine Biosciences from $152.00 to $174.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. Guggenheim upped their target price on shares of Neurocrine Biosciences from $165.00 to $175.00 and gave the company a "buy" rating in a research note on Friday. Canaccord Genuity Group upped their target price on shares of Neurocrine Biosciences from $158.00 to $160.00 and gave the company a "buy" rating in a research note on Tuesday, May 6th. Finally, Wedbush increased their price objective on shares of Neurocrine Biosciences from $137.00 to $141.00 and gave the company an "outperform" rating in a research note on Thursday. Four analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. According to MarketBeat, Neurocrine Biosciences presently has a consensus rating of "Moderate Buy" and a consensus target price of $164.00.

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.