UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Boosts Stock Holdings in Neurocrine Biosciences, Inc. $NBIX

Key Points

• UBS Asset Management increased its stake in Neurocrine Biosciences by 8.3%, acquiring an additional 89,271 shares and holding a total of approximately $128.2 million in the company.
• Neurocrine's stock experienced a 1.2% decline, with current trading at $141.87, while it has a 12-month range of $84.23 to $154.61.
• Insiders have sold 186,960 shares worth over $23.9 million in the last quarter, while 92.59% of the stock is owned by institutional investors.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 8.3% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,159,367 shares of the company's stock after acquiring an additional 89,271 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned 1.17% of Neurocrine Biosciences worth $128,226,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of NBIX. DE Burlo Group Inc. grew its stake in shares of Neurocrine Biosciences by 2.2% in the 1st quarter. DE Burlo Group Inc. now owns 4,717 shares of the company's stock worth $522,000 after buying an additional 100 shares in the last quarter. Nissay Asset Management Corp Japan ADV grew its stake in shares of Neurocrine Biosciences by 0.9% in the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 12,293 shares of the company's stock worth $1,360,000 after buying an additional 107 shares in the last quarter. Sheaff Brock Investment Advisors LLC grew its stake in shares of Neurocrine Biosciences by 4.8% in the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 2,619 shares of the company's stock worth $290,000 after buying an additional 120 shares in the last quarter. Aurora Investment Counsel grew its stake in shares of Neurocrine Biosciences by 1.3% in the 1st quarter. Aurora Investment Counsel now owns 10,520 shares of the company's stock worth $1,164,000 after buying an additional 138 shares in the last quarter. Finally, Illumine Investment Management LLC grew its stake in shares of Neurocrine Biosciences by 1.5% in the 1st quarter. Illumine Investment Management LLC now owns 9,641 shares of the company's stock worth $1,066,000 after buying an additional 139 shares in the last quarter. 92.59% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Kevin Charles Gorman sold 106,322 shares of the business's stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $126.41, for a total value of $13,440,164.02. Following the completion of the sale, the director owned 514,596 shares in the company, valued at approximately $65,050,080.36. The trade was a 17.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Ingrid Delaet sold 457 shares of the business's stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $135.00, for a total transaction of $61,695.00. Following the completion of the sale, the insider owned 4,730 shares of the company's stock, valued at approximately $638,550. This represents a 8.81% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 186,960 shares of company stock worth $23,955,553. 4.80% of the stock is currently owned by corporate insiders.

Neurocrine Biosciences Trading Down 1.2%

NBIX opened at $141.87 on Friday. Neurocrine Biosciences, Inc. has a 12-month low of $84.23 and a 12-month high of $154.61. The business's fifty day simple moving average is $134.13 and its 200-day simple moving average is $121.15. The company has a market capitalization of $14.07 billion, a price-to-earnings ratio of 41.97, a PEG ratio of 1.03 and a beta of 0.28.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $1.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.98 by $0.08. Neurocrine Biosciences had a return on equity of 13.22% and a net margin of 13.88%.The business had revenue of $687.50 million for the quarter, compared to the consensus estimate of $653.09 million. During the same quarter in the prior year, the company earned $1.63 EPS. The business's revenue was up 16.5% compared to the same quarter last year. On average, equities research analysts predict that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have commented on NBIX shares. Wedbush lifted their price objective 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. UBS Group lifted their price objective on shares of Neurocrine Biosciences from $152.00 to $174.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. JPMorgan Chase & Co. lifted their price target on shares of Neurocrine Biosciences from $140.00 to $145.00 and gave the stock a "neutral" rating in a research note 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 research note on Friday, September 5th. Finally, The Goldman Sachs Group started coverage on shares of Neurocrine Biosciences in a research note on Thursday, July 10th. They set a "buy" rating and a $182.00 price target for the company. Eighteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $160.00.

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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