PDT Partners LLC Has $2.04 Million Stake in Neurocrine Biosciences, Inc. $NBIX

Key Points

• PDT Partners LLC reduced its stake in Neurocrine Biosciences by 47.0%, now holding $2.04 million worth of shares after selling 16,343 in the first quarter.
• Several institutional investors have increased their positions in Neurocrine Biosciences, with Dodge & Cox raising their stake by 83.5% to over $612 million.
• Analysts generally have a positive outlook on Neurocrine Biosciences, with multiple firms issuing "buy" ratings and target prices ranging from $115.00 to $182.00.

PDT Partners LLC lowered its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 47.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 18,405 shares of the company's stock after selling 16,343 shares during the quarter. PDT Partners LLC's holdings in Neurocrine Biosciences were worth $2,036,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Dodge & Cox raised its holdings in shares of Neurocrine Biosciences by 83.5% in the first quarter. Dodge & Cox now owns 5,534,624 shares of the company's stock valued at $612,129,000 after buying an additional 2,518,199 shares during the last quarter. Wellington Management Group LLP increased its position in Neurocrine Biosciences by 44.0% in the 1st quarter. Wellington Management Group LLP now owns 2,097,981 shares of the company's stock valued at $232,037,000 after acquiring an additional 640,556 shares in the last quarter. Orbimed Advisors LLC raised its stake in shares of Neurocrine Biosciences by 210.4% in the fourth quarter. Orbimed Advisors LLC now owns 938,120 shares of the company's stock worth $128,053,000 after acquiring an additional 635,900 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Neurocrine Biosciences by 1,405.2% during the first quarter. Assenagon Asset Management S.A. now owns 393,455 shares of the company's stock worth $43,516,000 after purchasing an additional 367,315 shares in the last quarter. Finally, Iron Triangle Partners LP acquired a new position in shares of Neurocrine Biosciences during the fourth quarter worth approximately $43,434,000. Institutional investors own 92.59% of the company's stock.

Insiders Place Their Bets

In related news, insider Ingrid Delaet sold 457 shares of the company's stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $135.00, for a total value of $61,695.00. Following the completion of the sale, the insider owned 4,730 shares in the company, valued at $638,550. This represents a 8.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jude Onyia sold 59,819 shares of Neurocrine Biosciences stock in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $130.46, for a total value of $7,803,986.74. Following the transaction, the insider owned 18,289 shares in the company, valued at approximately $2,385,982.94. This represents a 76.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 186,960 shares of company stock worth $23,955,553. Company insiders own 4.30% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Truist Financial began coverage on shares of Neurocrine Biosciences in a report on Monday, July 21st. They issued a "buy" rating and a $163.00 price target for the company. BMO Capital Markets lifted their target price on Neurocrine Biosciences from $96.00 to $115.00 and gave the company a "market perform" rating in a research note on Tuesday, May 6th. Canaccord Genuity Group boosted their target price on Neurocrine Biosciences from $158.00 to $160.00 and gave the stock a "buy" rating in a research report on Tuesday, May 6th. The Goldman Sachs Group started coverage on Neurocrine Biosciences in a report on Thursday, July 10th. They issued a "buy" rating and a $182.00 price target on the stock. Finally, JPMorgan Chase & Co. lifted their price objective on Neurocrine Biosciences from $140.00 to $145.00 and gave the stock a "neutral" rating in a research report on Thursday, July 31st. Eighteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $159.50.

Neurocrine Biosciences Trading Up 1.7%

Neurocrine Biosciences stock opened at $141.92 on Wednesday. The firm has a market capitalization of $14.08 billion, a P/E ratio of 41.99, a PEG ratio of 1.01 and a beta of 0.28. The business has a 50-day moving average of $131.81 and a 200-day moving average of $119.77. Neurocrine Biosciences, Inc. has a 1 year low of $84.23 and a 1 year high of $154.61.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $1.06 earnings per share for the quarter, topping the consensus estimate 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%. Neurocrine Biosciences's quarterly revenue was up 16.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.63 EPS. Research analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

Neurocrine Biosciences Company 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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