Neurocrine Biosciences, Inc. $NBIX Shares Sold by Alyeska Investment Group L.P.

Key Points

• Alyeska Investment Group L.P. has reduced its stake in Neurocrine Biosciences by 17.1% during the first quarter, owning approximately 206,368 shares worth $22.8 million after selling 42,560 shares.
• Equities research analysts have generally favorable views on Neurocrine Biosciences, with 18 out of 21 giving it a Buy rating and a consensus price target of $159.50.
• Neurocrine Biosciences reported a strong quarterly performance, with earnings per share of $1.06, exceeding expectations by $0.08, and revenues of $687.5 million.

Alyeska Investment Group L.P. cut its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 17.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 206,368 shares of the company's stock after selling 42,560 shares during the period. Alyeska Investment Group L.P. owned approximately 0.21% of Neurocrine Biosciences worth $22,824,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. DE Burlo Group Inc. grew its position in shares of Neurocrine Biosciences by 2.2% during the 1st quarter. DE Burlo Group Inc. now owns 4,717 shares of the company's stock valued at $522,000 after acquiring an additional 100 shares during the period. Sheaff Brock Investment Advisors LLC boosted its holdings in Neurocrine Biosciences by 4.8% in the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 2,619 shares of the company's stock worth $290,000 after buying an additional 120 shares during the last quarter. Aurora Investment Counsel boosted its holdings in Neurocrine Biosciences by 1.3% in the 1st quarter. Aurora Investment Counsel now owns 10,520 shares of the company's stock worth $1,164,000 after buying an additional 138 shares during the last quarter. Illumine Investment Management LLC boosted its holdings in Neurocrine Biosciences by 1.5% in the 1st quarter. Illumine Investment Management LLC now owns 9,641 shares of the company's stock worth $1,066,000 after buying an additional 139 shares during the last quarter. Finally, State of Alaska Department of Revenue boosted its holdings in Neurocrine Biosciences by 1.3% in the 1st quarter. State of Alaska Department of Revenue now owns 11,680 shares of the company's stock worth $1,291,000 after buying an additional 145 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on NBIX shares. Wall Street Zen upgraded Neurocrine Biosciences from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 2nd. Truist Financial started coverage on Neurocrine Biosciences in a report on Monday, July 21st. They issued a "buy" rating and a $163.00 price objective on the stock. Stifel Nicolaus lifted their price objective on Neurocrine Biosciences from $166.00 to $174.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Morgan Stanley lifted their price objective on Neurocrine Biosciences from $150.00 to $158.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Finally, Guggenheim lifted their price objective on Neurocrine Biosciences from $165.00 to $175.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Eighteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $159.50.

Neurocrine Biosciences Price Performance

NBIX opened at $140.40 on Friday. The company's 50 day simple moving average is $132.25 and its two-hundred day simple moving average is $120.06. Neurocrine Biosciences, Inc. has a 1-year low of $84.23 and a 1-year high of $154.61. The firm has a market capitalization of $13.92 billion, a price-to-earnings ratio of 41.54, a price-to-earnings-growth ratio of 0.98 and a beta of 0.28.

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

Insider Activity

In other news, insider Jude Onyia sold 59,819 shares of Neurocrine Biosciences stock in a transaction that occurred on Wednesday, July 9th. The shares were sold at an average price of $130.46, for a total transaction of $7,803,986.74. Following the sale, the insider owned 18,289 shares of the company's stock, valued at approximately $2,385,982.94. The trade was a 76.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ingrid Delaet sold 457 shares of Neurocrine Biosciences stock in a transaction that occurred 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 sale, the insider directly owned 4,730 shares in the company, valued at approximately $638,550. The trade was a 8.81% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 186,960 shares of company stock valued at $23,955,553. 4.80% of the stock is currently owned by company 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.

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