Neurocrine Biosciences, Inc. $NBIX Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

Key Points

• UBS Asset Management reduced its Neurocrine Biosciences stake by 11.8% in the second quarter, selling 67,486 shares and retaining 504,233 shares worth approximately $85.0 million. Institutional investors collectively own 92.59% of NBIX.
• Insiders sold 65,188 shares valued at $11.25 million over the past quarter, including sales by Director Stephen A. Sherwin and insider Ingrid Delaet under pre-arranged Rule 10b5-1 plans.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and a $200.86 price target. Neurocrine reported quarterly EPS of $2.85 versus the $1.65 estimate, while revenue rose 39.5% year over year to $959 million.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 11.8% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 504,233 shares of the company's stock after selling 67,486 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.50% of Neurocrine Biosciences worth $84,981,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of NBIX. Geneos Wealth Management Inc. increased its stake in shares of Neurocrine Biosciences by 143.6% in the first quarter. Geneos Wealth Management Inc. now owns 229 shares of the company's stock valued at $25,000 after purchasing an additional 135 shares during the period. DJE Kapital AG acquired a new position in shares of Neurocrine Biosciences during the fourth quarter worth approximately $28,000. Basecamp Wealth Advisors LLC boosted its position in shares of Neurocrine Biosciences by 582.9% during the first quarter. Basecamp Wealth Advisors LLC now owns 239 shares of the company's stock worth $31,000 after buying an additional 204 shares during the period. Cassaday & Co Wealth Management LLC bought a new position in Neurocrine Biosciences in the 1st quarter worth approximately $33,000. Finally, Meeder Asset Management Inc. increased its position in Neurocrine Biosciences by 651.6% in the 4th quarter. Meeder Asset Management Inc. now owns 233 shares of the company's stock valued at $33,000 after acquiring an additional 202 shares during the period. Institutional investors own 92.59% of the company's stock.

Insider Buying and Selling at Neurocrine Biosciences

In related news, Director Stephen A. Sherwin sold 25,000 shares of the business's stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $165.32, for a total value of $4,133,000.00. Following the sale, the director directly owned 15,860 shares in the company, valued at $2,621,975.20. The trade was a 61.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Ingrid Delaet sold 4,367 shares of Neurocrine Biosciences stock in a transaction that occurred on Friday, July 10th. The stock was sold at an average price of $181.02, for a total transaction of $790,514.34. Following the transaction, the insider owned 16,225 shares in the company, valued at approximately $2,937,049.50. The trade was a 21.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 65,188 shares of company stock valued at $11,251,633 over the last quarter. Company insiders own 4.60% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on NBIX. Zacks Research cut Neurocrine Biosciences from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 4th. Citigroup upped their price objective on shares of Neurocrine Biosciences from $246.00 to $249.00 and gave the stock a "buy" rating in a report on Friday, July 31st. Stifel Nicolaus raised their target price on shares of Neurocrine Biosciences from $188.00 to $215.00 and gave the company a "buy" rating in a research note on Friday, July 31st. Guggenheim boosted their price target on shares of Neurocrine Biosciences from $200.00 to $222.00 and gave the stock a "buy" rating in a research report on Friday, July 31st. Finally, Truist Financial upped their price target on shares of Neurocrine Biosciences from $200.00 to $213.00 and gave the stock a "buy" rating in a research note on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $200.86.

Neurocrine Biosciences Stock Up 0.7%

Shares of NBIX stock opened at $157.79 on Thursday. The stock has a 50-day simple moving average of $166.36 and a 200 day simple moving average of $150.00. Neurocrine Biosciences, Inc. has a fifty-two week low of $122.14 and a fifty-two week high of $186.12. The stock has a market capitalization of $16.04 billion, a P/E ratio of 23.14, a P/E/G ratio of 0.73 and a beta of 0.38.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last issued its quarterly earnings results on Friday, July 31st. The company reported $2.85 EPS for the quarter, topping the consensus estimate of $1.65 by $1.20. Neurocrine Biosciences had a net margin of 20.91% and a return on equity of 22.43%. The firm had revenue of $959.00 million for the quarter, compared to analysts' expectations of $891.16 million. During the same period in the previous year, the business earned $1.65 earnings per share. Neurocrine Biosciences's revenue for the quarter was up 39.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Neurocrine Biosciences, Inc. will post 7.25 earnings per share for the current year.

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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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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