Perceptive Advisors LLC Sells 266,000 Shares of Neurocrine Biosciences, Inc. $NBIX

Key Points

• Perceptive Advisors sharply reduced its Neurocrine Biosciences stake by selling 266,000 shares, an 80.4% decrease, leaving it with 65,050 shares valued at approximately $8.57 million.
• Other institutional investors generally increased their positions, including Bank of America, which raised its stake by 10.6%, while institutional investors collectively own 92.59% of NBIX.
• Analysts remain broadly bullish, with a consensus “Moderate Buy” rating and an average price target of $199.64 versus the stock’s reported $166.80 price; however, insiders sold 395,422 shares worth $62.45 million in the last quarter.

Perceptive Advisors LLC trimmed its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 80.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 65,050 shares of the company's stock after selling 266,000 shares during the quarter. Perceptive Advisors LLC owned 0.06% of Neurocrine Biosciences worth $8,570,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Segall Bryant & Hamill LLC raised its holdings in shares of Neurocrine Biosciences by 0.8% in the 1st quarter. Segall Bryant & Hamill LLC now owns 56,934 shares of the company's stock worth $7,500,000 after buying an additional 464 shares in the last quarter. Arete Wealth Advisors LLC bought a new position in shares of Neurocrine Biosciences during the 1st quarter worth approximately $3,037,000. Bank of America Corp DE boosted its stake in Neurocrine Biosciences by 10.6% in the 1st quarter. Bank of America Corp DE now owns 583,827 shares of the company's stock valued at $76,913,000 after buying an additional 55,723 shares in the last quarter. Edgestream Partners L.P. grew its position in Neurocrine Biosciences by 134.1% in the first quarter. Edgestream Partners L.P. now owns 50,587 shares of the company's stock valued at $6,664,000 after acquiring an additional 28,979 shares during the period. Finally, Janus Henderson Group PLC grew its position in Neurocrine Biosciences by 1.7% in the first quarter. Janus Henderson Group PLC now owns 466,977 shares of the company's stock valued at $61,515,000 after acquiring an additional 7,801 shares during the period. 92.59% of the stock is currently owned by institutional investors.

More Neurocrine Biosciences News

Here are the key news stories impacting Neurocrine Biosciences this week:

• Positive Sentiment: Strong Q2 performance: Second-quarter revenue rose 39% year over year to $959 million, exceeding the approximately $891 million analyst estimate. Adjusted earnings were $2.85 per share versus the $2.26 consensus, while net income increased to $144.4 million. Neurocrine Biosciences Reports Second-Quarter 2026 Financial Results
• Positive Sentiment: Product and pipeline growth: INGREZZA sales increased 15% to $716 million, while CRENESSITY generated $184 million and newly acquired VYKAT XR contributed $54 million. Neurocrine also raised its 2026 INGREZZA sales guidance to $2.825 billion-$2.875 billion, supporting the company’s commercial outlook and Soleno Therapeutics acquisition. NBIX Q2 Earnings Call Highlights
• Positive Sentiment: Analyst support strengthened: TD Cowen, Guggenheim, Stifel, Cantor Fitzgerald, Piper Sandler, Needham, RBC and Morgan Stanley all raised their price targets, with targets ranging from $196 to $222. William Blair also reiterated a Buy rating, citing strong execution and substantial pipeline potential. Analyst Price Target Updates
• Neutral Sentiment: Investor expectations remain elevated: Although NBIX beat quarterly estimates, the market appears to have wanted a larger revenue upside surprise or more aggressive full-year guidance. The reaction suggests investors may be reassessing how much near-term upside is already reflected in the shares.
• Negative Sentiment: Insider selling adds a cautionary signal: Director Leslie Norwalk sold 1,250 shares for about $228,000 under a pre-arranged Rule 10b5-1 plan. Broader data also show numerous insider sales and no open-market purchases over the past six months, though such transactions may be planned and do not necessarily indicate deteriorating fundamentals. SEC Insider Trading Filing

Insider Activity at Neurocrine Biosciences

In other Neurocrine Biosciences news, Director Leslie V. Norwalk sold 1,250 shares of the business's stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $182.01, for a total value of $227,512.50. Following the completion of the transaction, the director directly owned 1,588 shares of the company's stock, valued at approximately $289,031.88. The trade was a 44.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stephen A. Sherwin sold 25,000 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $165.32, for a total transaction of $4,133,000.00. Following the sale, the director directly owned 15,860 shares in the company, valued at $2,621,975.20. This trade represents a 61.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 395,422 shares of company stock worth $62,448,693 in the last quarter. Insiders own 4.60% of the company's stock.

Neurocrine Biosciences Stock Performance

Shares of NASDAQ:NBIX opened at $166.80 on Friday. The business has a fifty day moving average of $167.81 and a 200-day moving average of $146.40. Neurocrine Biosciences, Inc. has a twelve month low of $122.14 and a twelve month high of $186.12. The firm has a market cap of $16.77 billion, a PE ratio of 24.46, a price-to-earnings-growth ratio of 0.70 and a beta of 0.39.

Analyst Ratings Changes

A number of research analysts have issued reports on NBIX shares. JPMorgan Chase & Co. lifted their price objective on Neurocrine Biosciences from $177.00 to $185.00 and gave the company an "overweight" rating in a report on Friday, May 8th. Needham & Company LLC upped their target price on shares of Neurocrine Biosciences from $200.00 to $204.00 and gave the stock a "buy" rating in a report on Friday. Leerink Partners lifted their price target on shares of Neurocrine Biosciences from $160.00 to $170.00 and gave the company an "outperform" rating in a report on Wednesday, April 22nd. Sanford C. Bernstein started coverage on shares of Neurocrine Biosciences in a research report on Friday, May 22nd. They issued an "outperform" rating and a $221.00 price target on the stock. Finally, Stifel Nicolaus upped their price objective on shares of Neurocrine Biosciences from $188.00 to $215.00 and gave the stock a "buy" rating in a research note on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Neurocrine Biosciences currently has a consensus rating of "Moderate Buy" and a consensus target price of $199.64.

Neurocrine Biosciences 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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