Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Shares Sold by Perpetual Ltd

Perpetual Ltd trimmed its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 77.6% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,930 shares of the company's stock after selling 10,171 shares during the period. Perpetual Ltd's holdings in Neurocrine Biosciences were worth $324,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Huntington National Bank lifted its stake in Neurocrine Biosciences by 73.5% during the fourth quarter. Huntington National Bank now owns 229 shares of the company's stock worth $31,000 after purchasing an additional 97 shares in the last quarter. GeoWealth Management LLC lifted its stake in Neurocrine Biosciences by 65.4% during the fourth quarter. GeoWealth Management LLC now owns 258 shares of the company's stock worth $35,000 after purchasing an additional 102 shares in the last quarter. Golden State Wealth Management LLC lifted its stake in 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 in the last quarter. Versant Capital Management Inc lifted its stake in Neurocrine Biosciences by 404.9% during the first quarter. Versant Capital Management Inc now owns 409 shares of the company's stock worth $45,000 after purchasing an additional 328 shares in the last quarter. Finally, Harbor Capital Advisors Inc. acquired a new position in Neurocrine Biosciences during the first quarter worth $48,000. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Neurocrine Biosciences Stock Performance

Shares of NBIX stock opened at $125.42 on Friday. The stock's 50-day moving average is $119.35 and its two-hundred day moving average is $121.81. The firm has a market cap of $12.41 billion, a price-to-earnings ratio of 42.52, a PEG ratio of 1.29 and a beta of 0.24. Neurocrine Biosciences, Inc. has a 1 year low of $84.23 and a 1 year high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.62). The firm had revenue of $572.60 million for the quarter, compared to analysts' expectations of $587.06 million. Neurocrine Biosciences had a return on equity of 11.81% and a net margin of 12.68%. The business's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.20 EPS. As a group, research analysts predict that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

Insiders Place Their Bets

In related news, Director Kevin Charles Gorman sold 9,613 shares of the firm's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $120.38, for a total transaction of $1,157,212.94. Following the transaction, the director now owns 514,596 shares of the company's stock, valued at $61,947,066.48. This trade represents a 1.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director William H. Rastetter sold 30,000 shares of the firm's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $110.20, for a total value of $3,306,000.00. Following the transaction, the director now directly owns 37,491 shares in the company, valued at approximately $4,131,508.20. This represents a 44.45% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 4.80% of the company's stock.

Analysts Set New Price Targets

NBIX has been the topic of a number of research reports. Needham & Company LLC upped their price target on Neurocrine Biosciences from $138.00 to $139.00 and gave the stock a "buy" rating in a research note on Tuesday, May 6th. Piper Sandler reiterated an "overweight" rating and issued a $154.00 price objective (down from $160.00) on shares of Neurocrine Biosciences in a research note on Tuesday, May 6th. JPMorgan Chase & Co. increased their price objective on Neurocrine Biosciences from $183.00 to $184.00 and gave the company an "overweight" rating in a research note on Wednesday, March 26th. Canaccord Genuity Group increased their price objective on 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 reiterated an "outperform" rating on shares of Neurocrine Biosciences in a research note on Tuesday, May 6th. Three equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $162.00.

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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