Neurocrine Biosciences, Inc. $NBIX Shares Sold by Raymond James Financial Inc.

Key Points

• Raymond James Financial Inc. reduced its holdings in Neurocrine Biosciences by 6.1%, selling 51,420 shares and now owns approximately 0.80% of the company valued at about $87.6 million.
• Neurocrine Biosciences reported a quarterly earnings per share (EPS) of $1.06, exceeding analysts' expectations and demonstrating a 16.5% year-over-year revenue growth.
• Institutional investors own approximately 92.59% of Neurocrine Biosciences, highlighting significant interest from the investment community.

Raymond James Financial Inc. reduced its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 6.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 792,482 shares of the company's stock after selling 51,420 shares during the quarter. Raymond James Financial Inc. owned 0.80% of Neurocrine Biosciences worth $87,649,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. GeoWealth Management LLC grew its stake in shares of Neurocrine Biosciences by 65.4% during the 4th quarter. GeoWealth Management LLC now owns 258 shares of the company's stock valued at $35,000 after purchasing an additional 102 shares during the period. Smallwood Wealth Investment Management LLC bought a new stake in shares of Neurocrine Biosciences during the 1st quarter valued at about $34,000. Golden State Wealth Management LLC grew its stake in shares of Neurocrine Biosciences by 116.9% during the 1st quarter. Golden State Wealth Management LLC now owns 397 shares of the company's stock valued at $44,000 after purchasing an additional 214 shares during the period. Versant Capital Management Inc grew its stake in shares of Neurocrine Biosciences by 404.9% during the 1st quarter. Versant Capital Management Inc now owns 409 shares of the company's stock valued at $45,000 after purchasing an additional 328 shares during the period. Finally, Harbor Capital Advisors Inc. bought a new position in shares of Neurocrine Biosciences during the 1st quarter valued at approximately $48,000. 92.59% of the stock is currently owned by institutional investors.

Insider Activity at Neurocrine Biosciences

In related news, insider Jude Onyia sold 59,819 shares of the firm's stock in a transaction dated Wednesday, July 9th. The stock was 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 $2,385,982.94. This trade represents a 76.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kevin Charles Gorman sold 106,322 shares of the firm's stock in a transaction dated Thursday, August 7th. The shares were 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. The trade was a 17.12% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 196,573 shares of company stock valued at $25,112,766 over the last quarter. 4.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on NBIX. JPMorgan Chase & Co. boosted their price objective on Neurocrine Biosciences from $140.00 to $145.00 and gave the company a "neutral" rating in a research note on Thursday, July 31st. Guggenheim increased their target price on Neurocrine Biosciences from $165.00 to $175.00 and gave the company a "buy" rating in a research report on Friday, August 1st. The Goldman Sachs Group initiated coverage on Neurocrine Biosciences in a research report on Thursday, July 10th. They set a "buy" rating and a $182.00 target price for the company. Truist Financial started coverage on Neurocrine Biosciences in a report on Monday, July 21st. They set a "buy" rating and a $163.00 price target on the stock. Finally, UBS Group increased their target price on Neurocrine Biosciences from $152.00 to $174.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Eighteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $159.50.

Neurocrine Biosciences Trading Down 1.1%

Shares of Neurocrine Biosciences stock traded down $1.44 during trading on Monday, hitting $133.99. 530,293 shares of the stock traded hands, compared to its average volume of 1,012,574. The firm has a market cap of $13.29 billion, a P/E ratio of 39.64, a price-to-earnings-growth ratio of 0.98 and a beta of 0.25. Neurocrine Biosciences, Inc. has a 52-week low of $84.23 and a 52-week high of $154.61. The stock's fifty day simple moving average is $130.31 and its 200 day simple moving average is $118.86.

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

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.