Squarepoint Ops LLC Lowers Stock Holdings in Neurocrine Biosciences, Inc. $NBIX

Squarepoint Ops LLC reduced its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 91.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 44,143 shares of the company's stock after selling 443,810 shares during the period. Squarepoint Ops LLC's holdings in Neurocrine Biosciences were worth $7,440,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Geneos Wealth Management Inc. raised its stake in shares of Neurocrine Biosciences by 143.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 229 shares of the company's stock worth $25,000 after buying an additional 135 shares during the period. DJE Kapital AG purchased a new stake in Neurocrine Biosciences in the 4th quarter worth $28,000. Basecamp Wealth Advisors LLC raised its position in 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 acquiring an additional 204 shares during the period. Cassaday & Co Wealth Management LLC acquired a new position in Neurocrine Biosciences during the first quarter worth $33,000. Finally, Meeder Asset Management Inc. lifted its holdings in Neurocrine Biosciences by 651.6% during the fourth quarter. Meeder Asset Management Inc. now owns 233 shares of the company's stock valued at $33,000 after purchasing an additional 202 shares in the last quarter. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Neurocrine Biosciences Trading Up 0.9%

NBIX opened at $156.57 on Friday. The firm has a market capitalization of $15.92 billion, a PE ratio of 22.96, a PEG ratio of 0.73 and a beta of 0.38. Neurocrine Biosciences, Inc. has a twelve month low of $122.14 and a twelve month high of $186.12. The firm's 50-day moving average price is $164.82 and its 200 day moving average price is $151.22.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last announced its quarterly earnings data on Friday, July 31st. The company reported $2.85 earnings per share (EPS) for the quarter, beating 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 company had revenue of $959.00 million during the quarter, compared to analysts' expectations of $891.16 million. During the same quarter in the prior year, the company earned $1.65 EPS. Neurocrine Biosciences's revenue was up 39.5% compared to the same quarter last year. As a group, analysts predict that Neurocrine Biosciences, Inc. will post 7.25 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently commented on NBIX shares. Morgan Stanley cut their target price on shares of Neurocrine Biosciences from $196.00 to $182.00 and set an "equal weight" rating for the company in a research note on Thursday, August 13th. Truist Financial raised their price target on shares of Neurocrine Biosciences from $200.00 to $213.00 and gave the company a "buy" rating in a research note on Monday, August 3rd. Wall Street Zen cut Neurocrine Biosciences from a "buy" rating to a "hold" rating in a report on Sunday, August 9th. Guggenheim boosted their price objective on Neurocrine Biosciences from $200.00 to $222.00 and gave the stock a "buy" rating in a research note on Friday, July 31st. Finally, Cantor Fitzgerald increased their target price on Neurocrine Biosciences from $210.00 to $215.00 and gave the company an "overweight" rating in a report on Friday, July 31st. One research 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 MarketBeat.com, Neurocrine Biosciences currently has a consensus rating of "Moderate Buy" and an average target price of $201.05.

Insider Activity

In other news, insider Ingrid Delaet sold 4,367 shares of the company's stock in a transaction that occurred on Friday, July 10th. The stock was sold at an average price of $181.02, for a total value of $790,514.34. Following the completion of the sale, the insider directly owned 16,225 shares in the company, valued at $2,937,049.50. This represents a 21.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Darin Lippoldt sold 10,000 shares of Neurocrine Biosciences stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $179.60, for a total value of $1,796,000.00. Following the transaction, the insider owned 54,729 shares in the company, valued at approximately $9,829,328.40. The trade was a 15.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 40,188 shares of company stock worth $7,118,633 over the last ninety days. Corporate insiders own 4.60% of the company's stock.

Neurocrine Biosciences Profile

Neurocrine Biosciences, Inc is a biopharmaceutical company focused on discovering, developing and commercializing medicines for neurological, neuroendocrine and psychiatric disorders. The company develops therapies for conditions with significant unmet medical needs, using expertise in neuroscience and endocrine biology.

Its primary commercial product is INGREZZA (valbenazine), a vesicular monoamine transporter 2 inhibitor approved in the United States for the treatment of tardive dyskinesia and chorea associated with Huntington's disease.

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