Algert Global LLC Sells 22,490 Shares of Neurocrine Biosciences, Inc. $NBIX

Key Points

• Algert Global LLC significantly reduced its stake in Neurocrine Biosciences, Inc. by 65.8%, selling 22,490 shares and bringing its ownership down to 11,676 shares, valued at approximately $1.291 million.
• Other institutional investors increased their holdings, with American Century Companies growing its position by 106.6% and owning 191,182 shares worth over $21 million.
• Analyst reports show a positive outlook for Neurocrine, with a consensus price target of $159.50 and a "Moderate Buy" rating, indicating expected growth for the stock.

Algert Global LLC decreased its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 65.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,676 shares of the company's stock after selling 22,490 shares during the quarter. Algert Global LLC's holdings in Neurocrine Biosciences were worth $1,291,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in NBIX. AQR Capital Management LLC grew its stake in shares of Neurocrine Biosciences by 2.9% in the fourth quarter. AQR Capital Management LLC now owns 1,896,891 shares of the company's stock valued at $258,926,000 after buying an additional 53,610 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Neurocrine Biosciences by 19.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,070,096 shares of the company's stock valued at $146,068,000 after acquiring an additional 175,879 shares during the last quarter. Northern Trust Corp lifted its stake in Neurocrine Biosciences by 27.3% in the fourth quarter. Northern Trust Corp now owns 981,939 shares of the company's stock valued at $134,035,000 after acquiring an additional 210,315 shares during the last quarter. Orbimed Advisors LLC grew its position in shares of Neurocrine Biosciences by 210.4% in the 4th quarter. Orbimed Advisors LLC now owns 938,120 shares of the company's stock valued at $128,053,000 after acquiring an additional 635,900 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Neurocrine Biosciences by 1.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 775,773 shares of the company's stock worth $85,800,000 after purchasing an additional 13,216 shares during the last quarter. Institutional investors and hedge funds own 92.59% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NBIX. 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 report on Wednesday, July 9th. The Goldman Sachs Group initiated coverage on Neurocrine Biosciences in a research note on Thursday, July 10th. They issued a "buy" rating and a $182.00 price objective on the stock. Truist Financial initiated 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. Piper Sandler lifted their target price on Neurocrine Biosciences from $154.00 to $175.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. Finally, Morgan Stanley increased their price target on Neurocrine Biosciences from $150.00 to $158.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Eighteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $159.50.

Insider Buying and Selling

In other news, insider Ingrid Delaet sold 457 shares of the company's stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $135.00, for a total transaction of $61,695.00. Following the completion of the sale, the insider directly owned 4,730 shares in the company, valued at approximately $638,550. This represents a 8.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Kevin Charles Gorman sold 106,322 shares of the stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $126.41, for a total value of $13,440,164.02. Following the sale, the director directly 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 disclosure for this sale can be found here. Insiders have sold 186,960 shares of company stock valued at $23,955,553 over the last 90 days. 4.80% of the stock is owned by corporate insiders.

Neurocrine Biosciences Stock Performance

NASDAQ:NBIX traded down $0.14 during mid-day trading on Thursday, reaching $138.00. 105,368 shares of the company's stock were exchanged, compared to its average volume of 1,240,620. Neurocrine Biosciences, Inc. has a one year low of $84.23 and a one year high of $154.61. The business's fifty day simple moving average is $130.76 and its two-hundred day simple moving average is $119.11. The firm has a market capitalization of $13.69 billion, a PE ratio of 40.78, a price-to-earnings-growth ratio of 0.99 and a beta of 0.25.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $1.06 earnings per share (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 business posted $1.63 EPS. The business's revenue was up 16.5% compared to the same quarter last year. As a group, equities research analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

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.