Neurocrine Biosciences, Inc. $NBIX Shares Purchased by Tudor Investment Corp ET AL

Key Points

• Tudor Investment Corp ET AL increased its stake in Neurocrine by 805.3% in Q3, buying 23,893 shares to hold 26,860 shares valued at about $3.77 million, and overall institutional ownership stands at 92.59%.
• Neurocrine's latest quarter showed an EPS miss ($1.88 vs. $2.36 est.) but revenue of $805.5M beat estimates and rose 28.3% year-over-year; analysts remain largely positive with a consensus "Moderate Buy" and a $180.70 average price target (some firms set targets up to $242).
• CEO Kyle Gano sold 36,400 shares at roughly $132.70 (about $4.83M), cutting his stake by 20.6%; insiders now own 4.80% of the company.

Tudor Investment Corp ET AL boosted its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 805.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,860 shares of the company's stock after purchasing an additional 23,893 shares during the period. Tudor Investment Corp ET AL's holdings in Neurocrine Biosciences were worth $3,771,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. AlTi Global Inc. increased its holdings in Neurocrine Biosciences by 1.0% in the 3rd quarter. AlTi Global Inc. now owns 6,828 shares of the company's stock valued at $959,000 after purchasing an additional 70 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its holdings in Neurocrine Biosciences by 0.7% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 11,112 shares of the company's stock valued at $1,560,000 after purchasing an additional 77 shares in the last quarter. Great Lakes Advisors LLC increased its holdings in Neurocrine Biosciences by 2.4% in the 3rd quarter. Great Lakes Advisors LLC now owns 3,605 shares of the company's stock valued at $506,000 after purchasing an additional 84 shares in the last quarter. Bessemer Group Inc. increased its holdings in Neurocrine Biosciences by 3.4% in the 3rd quarter. Bessemer Group Inc. now owns 2,871 shares of the company's stock valued at $402,000 after purchasing an additional 95 shares in the last quarter. Finally, Golden State Wealth Management LLC increased its holdings in Neurocrine Biosciences by 120.5% in the 3rd quarter. Golden State Wealth Management LLC now owns 183 shares of the company's stock valued at $26,000 after purchasing an additional 100 shares in the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Neurocrine Biosciences Price Performance

Shares of Neurocrine Biosciences stock opened at $131.64 on Friday. Neurocrine Biosciences, Inc. has a 1-year low of $87.70 and a 1-year high of $160.18. The business has a 50-day moving average of $131.31 and a 200-day moving average of $138.81. The company has a market capitalization of $13.21 billion, a PE ratio of 28.25, a P/E/G ratio of 0.69 and a beta of 0.35.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last issued its quarterly earnings results on Wednesday, February 11th. The company reported $1.88 EPS for the quarter, missing the consensus estimate of $2.36 by ($0.48). Neurocrine Biosciences had a return on equity of 16.48% and a net margin of 16.73%.The company had revenue of $805.50 million for the quarter, compared to the consensus estimate of $804.21 million. During the same period in the previous year, the business posted $1.69 EPS. The business's revenue for the quarter was up 28.3% on a year-over-year basis. On average, equities analysts expect that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

Insider Activity at Neurocrine Biosciences

In other news, CEO Kyle Gano sold 36,400 shares of the stock in a transaction dated Friday, January 16th. The shares were sold at an average price of $132.70, for a total transaction of $4,830,280.00. Following the transaction, the chief executive officer owned 140,407 shares of the company's stock, valued at approximately $18,632,008.90. This trade represents a 20.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 4.80% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on NBIX. HC Wainwright raised their target price on Neurocrine Biosciences from $192.00 to $215.00 and gave the company a "buy" rating in a research note on Tuesday. Wall Street Zen downgraded Neurocrine Biosciences from a "strong-buy" rating to a "buy" rating in a research note on Monday, February 16th. Wolfe Research began coverage on Neurocrine Biosciences in a research note on Tuesday, February 24th. They set an "outperform" rating and a $160.00 target price for the company. Weiss Ratings restated a "hold (c+)" rating on shares of Neurocrine Biosciences in a research note on Thursday, January 22nd. Finally, Citigroup raised their target price on Neurocrine Biosciences from $204.00 to $242.00 and gave the company a "buy" rating in a research note on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $180.70.

Neurocrine Biosciences Company Profile

Neurocrine Biosciences NASDAQ: NBIX is a biopharmaceutical company based in San Diego, California, focused on developing treatments for neurological, endocrine and neuropsychiatric disorders. Since its founding in 1992, the company has pursued a research‐driven strategy aimed at addressing unmet medical needs in movement disorders, reproductive health and central nervous system conditions. Neurocrine's operations encompass drug discovery, clinical development and commercialization activities.

The company's lead marketed product, Ingrezza™ (valbenazine), is indicated for the treatment of tardive dyskinesia, a movement disorder associated with long-term antipsychotic use.

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