Russell Investments Group Ltd. Sells 25,619 Shares of Neurocrine Biosciences, Inc. $NBIX

Key Points

• Russell Investments Group Ltd. reduced its stake in Neurocrine Biosciences by 20.3%, now holding approximately 100,598 shares valued at around $11.1 million as of the latest SEC filing.
• Other institutional investors have significantly increased their holdings in Neurocrine, with Orbimed Advisors LLC raising its position by 210.4% during the last quarter.
• Despite recent insider sales, Neurocrine Biosciences reported a positive quarterly earning, with an EPS of $1.06, exceeding analysts' expectations of $0.98.

Russell Investments Group Ltd. trimmed its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 20.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 100,598 shares of the company's stock after selling 25,619 shares during the period. Russell Investments Group Ltd. owned approximately 0.10% of Neurocrine Biosciences worth $11,137,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Smallwood Wealth Investment Management LLC acquired a new position in shares of Neurocrine Biosciences during the first quarter worth approximately $34,000. GeoWealth Management LLC raised its stake in shares of Neurocrine Biosciences by 65.4% during the fourth quarter. GeoWealth Management LLC now owns 258 shares of the company's stock worth $35,000 after buying an additional 102 shares during the last quarter. Golden State Wealth Management LLC raised its stake in shares of Neurocrine Biosciences by 116.9% during the first quarter. Golden State Wealth Management LLC now owns 397 shares of the company's stock worth $44,000 after buying an additional 214 shares during the last quarter. Versant Capital Management Inc raised its stake in shares of Neurocrine Biosciences by 404.9% during the first quarter. Versant Capital Management Inc now owns 409 shares of the company's stock worth $45,000 after buying an additional 328 shares during the last quarter. Finally, Harbor Capital Advisors Inc. bought a new stake in shares of Neurocrine Biosciences during the first quarter worth approximately $48,000. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Neurocrine Biosciences Stock Performance

NASDAQ:NBIX traded up $0.15 during trading hours on Friday, hitting $135.43. The stock had a trading volume of 547,980 shares, compared to its average volume of 1,047,942. Neurocrine Biosciences, Inc. has a one year low of $84.23 and a one year high of $154.87. The company has a market cap of $13.43 billion, a price-to-earnings ratio of 40.07, a P/E/G ratio of 0.97 and a beta of 0.25. The business's 50 day moving average is $130.13 and its 200-day moving average is $119.22.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last issued its 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. Neurocrine Biosciences had a net margin of 13.88% and a return on equity of 13.22%. The firm had revenue of $687.50 million during the quarter, compared to the consensus estimate of $653.09 million. During the same quarter in the prior year, the firm earned $1.63 earnings per share. The business's quarterly revenue was up 16.5% on a year-over-year basis. On average, sell-side analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

Insider Transactions at Neurocrine Biosciences

In other news, insider Jude Onyia sold 59,819 shares of the stock in a transaction on Wednesday, July 9th. The shares were sold at an average price of $130.46, for a total transaction of $7,803,986.74. Following the completion of the sale, the insider owned 18,289 shares of the company's stock, valued at $2,385,982.94. This represents a 76.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ingrid Delaet sold 457 shares of the stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $135.00, for a total transaction of $61,695.00. Following the sale, the insider directly owned 4,730 shares of the company's stock, valued at $638,550. This represents a 8.81% decrease in their position. The disclosure for this sale can be found here. Insiders sold 196,573 shares of company stock valued at $25,112,766 over the last quarter. Corporate insiders own 4.80% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on NBIX. Royal Bank Of Canada dropped their price target on shares of Neurocrine Biosciences from $146.00 to $144.00 and set an "outperform" rating for the company in a research note on Thursday, July 31st. Needham & Company LLC boosted their price target on shares of Neurocrine Biosciences from $138.00 to $139.00 and gave the stock a "buy" rating in a research note on Tuesday, May 6th. Guggenheim boosted their price target on shares of Neurocrine Biosciences from $165.00 to $175.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Wedbush boosted their price target on shares of Neurocrine Biosciences from $137.00 to $141.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Finally, Piper Sandler boosted their price target on shares of Neurocrine Biosciences from $154.00 to $175.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. Eighteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Neurocrine Biosciences presently has a consensus rating of "Moderate Buy" and a consensus price target of $159.50.

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.