Teza Capital Management LLC Has $587,000 Stock Position in Neurocrine Biosciences, Inc. $NBIX

Key Points

• Teza Capital Management LLC reduced its stake in Neurocrine Biosciences by 70.3%, selling 12,560 shares and now holding only 5,304 shares valued at approximately $587,000.
• Several hedge funds increased their positions in Neurocrine Biosciences, with Parkman Healthcare Partners raising its stake by 45.5%, acquiring an additional 52,655 shares.
• Neurocrine Biosciences reported better-than-expected earnings with an EPS of $1.06, surpassing estimates of $0.98, alongside a revenue of $687.50 million for the quarter.

Teza Capital Management LLC trimmed its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 70.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,304 shares of the company's stock after selling 12,560 shares during the quarter. Teza Capital Management LLC's holdings in Neurocrine Biosciences were worth $587,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Y Intercept Hong Kong Ltd acquired a new stake in Neurocrine Biosciences in the first quarter valued at approximately $1,460,000. Golden State Wealth Management LLC boosted its position in Neurocrine Biosciences by 116.9% in the first quarter. Golden State Wealth Management LLC now owns 397 shares of the company's stock valued at $44,000 after buying an additional 214 shares in the last quarter. Fifth Third Bancorp boosted its position in Neurocrine Biosciences by 31.7% in the first quarter. Fifth Third Bancorp now owns 1,056 shares of the company's stock valued at $117,000 after buying an additional 254 shares in the last quarter. Cetera Investment Advisers boosted its position in Neurocrine Biosciences by 46.5% in the fourth quarter. Cetera Investment Advisers now owns 8,169 shares of the company's stock valued at $1,115,000 after buying an additional 2,593 shares in the last quarter. Finally, American Century Companies Inc. boosted its position in Neurocrine Biosciences by 106.6% in the first quarter. American Century Companies Inc. now owns 191,182 shares of the company's stock valued at $21,145,000 after buying an additional 98,659 shares in the last quarter. Institutional investors and hedge funds own 92.59% of the company's stock.

Insider Activity at Neurocrine Biosciences

In related news, insider Jude Onyia sold 59,819 shares of the business's stock in a transaction on Wednesday, July 9th. The shares were 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 $2,385,982.94. The trade was a 76.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kevin Charles Gorman sold 106,322 shares of the company's stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $126.41, for a total transaction of $13,440,164.02. Following the transaction, the director owned 514,596 shares in the company, valued at $65,050,080.36. This represents a 17.12% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 186,960 shares of company stock worth $23,955,553 over the last quarter. Company insiders own 4.80% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on NBIX. Stifel Nicolaus raised their target price on shares of Neurocrine Biosciences from $166.00 to $174.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Royal Bank Of Canada lifted their price target on shares of Neurocrine Biosciences from $144.00 to $149.00 and gave the stock an "outperform" rating in a report on Friday, September 5th. Guggenheim lifted their price target on shares of Neurocrine Biosciences from $165.00 to $175.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Piper Sandler lifted their price target on shares of Neurocrine Biosciences from $154.00 to $175.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Finally, UBS Group lifted their price target on shares of Neurocrine Biosciences from $152.00 to $174.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Eighteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $160.00.

Neurocrine Biosciences Trading Down 1.2%

NBIX stock traded down $1.73 during midday trading on Friday, hitting $141.87. The stock had a trading volume of 485,690 shares, compared to its average volume of 702,053. The firm has a market cap of $14.07 billion, a P/E ratio of 41.97, a price-to-earnings-growth ratio of 1.03 and a beta of 0.28. Neurocrine Biosciences, Inc. has a 1-year low of $84.23 and a 1-year high of $154.61. The business has a fifty day moving average price of $134.13 and a two-hundred day moving average price of $121.18.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $1.06 earnings per share (EPS) for the quarter, beating 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 revenue for the quarter was up 16.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.63 earnings per share. On average, equities analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current 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.