Neurocrine Biosciences, Inc. $NBIX Shares Sold by EFG Asset Management North America Corp.

Key Points

• EFG Asset Management North America Corp. reduced its holdings in Neurocrine Biosciences by 23.8%, selling 3,172 shares, leaving them with a total of 10,149 shares worth approximately $1.12 million as of the end of the first quarter.
• Several large investors increased their stakes in Neurocrine Biosciences during the fourth quarter, including Mercer Global Advisors, which boosted its position by 52.0% to own 12,112 shares valued at about $1.65 million.
• Neurocrine Biosciences reported a 16.5% year-over-year revenue growth for the last quarter, with earnings per share (EPS) of $1.06, surpassing analysts' expectations of $0.98.

EFG Asset Management North America Corp. reduced its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 23.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,149 shares of the company's stock after selling 3,172 shares during the period. EFG Asset Management North America Corp.'s holdings in Neurocrine Biosciences were worth $1,122,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Mercer Global Advisors Inc. ADV increased its position in Neurocrine Biosciences by 52.0% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 12,112 shares of the company's stock worth $1,653,000 after purchasing an additional 4,143 shares in the last quarter. Baird Financial Group Inc. grew its position in shares of Neurocrine Biosciences by 82.0% during the fourth quarter. Baird Financial Group Inc. now owns 54,717 shares of the company's stock worth $7,469,000 after buying an additional 24,657 shares in the last quarter. Captrust Financial Advisors lifted its stake in Neurocrine Biosciences by 18.7% during the fourth quarter. Captrust Financial Advisors now owns 11,644 shares of the company's stock worth $1,589,000 after purchasing an additional 1,836 shares during the last quarter. Brevan Howard Capital Management LP lifted its stake in Neurocrine Biosciences by 8.3% during the fourth quarter. Brevan Howard Capital Management LP now owns 6,600 shares of the company's stock worth $901,000 after purchasing an additional 507 shares during the last quarter. Finally, Cetera Investment Advisers lifted its stake in Neurocrine Biosciences by 46.5% during the fourth quarter. Cetera Investment Advisers now owns 8,169 shares of the company's stock worth $1,115,000 after purchasing an additional 2,593 shares during the last quarter. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Neurocrine Biosciences

In other news, insider Ingrid Delaet sold 457 shares of the firm's stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $135.00, for a total value of $61,695.00. Following the completion of the sale, the insider directly owned 4,730 shares of the company's stock, valued at $638,550. This trade represents a 8.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Kevin Charles Gorman sold 106,322 shares of Neurocrine Biosciences stock in a transaction that occurred 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 of the company's stock, valued at approximately $65,050,080.36. The trade was a 17.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 186,960 shares of company stock valued at $23,955,553. Insiders own 4.80% of the company's stock.

Neurocrine Biosciences Stock Performance

Neurocrine Biosciences stock opened at $140.40 on Friday. Neurocrine Biosciences, Inc. has a 52 week low of $84.23 and a 52 week high of $154.61. The firm has a market cap of $13.92 billion, a P/E ratio of 41.54, a P/E/G ratio of 0.98 and a beta of 0.28. The business's fifty day moving average is $132.25 and its two-hundred day moving average is $120.06.

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

Wall Street Analyst Weigh In

A number of research firms have issued reports on NBIX. Guggenheim raised their target price on Neurocrine Biosciences from $165.00 to $175.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Royal Bank Of Canada lowered their target price on Neurocrine Biosciences from $146.00 to $144.00 and set an "outperform" rating on the stock in a report on Thursday, July 31st. UBS Group lifted their price target on Neurocrine Biosciences from $152.00 to $174.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Truist Financial assumed coverage on Neurocrine Biosciences in a research report on Monday, July 21st. They set a "buy" rating and a $163.00 price objective for the company. Finally, Piper Sandler raised their price objective on Neurocrine Biosciences from $154.00 to $175.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Eighteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $159.50.

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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