UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Buys 89,271 Shares of 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 lifted its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 8.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,159,367 shares of the company's stock after buying an additional 89,271 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned about 1.17% of Neurocrine Biosciences worth $128,226,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. DE Burlo Group Inc. raised its holdings in Neurocrine Biosciences by 2.2% during the first quarter. DE Burlo Group Inc. now owns 4,717 shares of the company's stock valued at $522,000 after buying an additional 100 shares in the last quarter. Nissay Asset Management Corp Japan ADV raised its holdings in Neurocrine Biosciences by 0.9% during the first quarter. Nissay Asset Management Corp Japan ADV now owns 12,293 shares of the company's stock valued at $1,360,000 after buying an additional 107 shares in the last quarter. Sheaff Brock Investment Advisors LLC raised its holdings in Neurocrine Biosciences by 4.8% during the first quarter. Sheaff Brock Investment Advisors LLC now owns 2,619 shares of the company's stock valued at $290,000 after buying an additional 120 shares in the last quarter. Aurora Investment Counsel raised its holdings in Neurocrine Biosciences by 1.3% during the first quarter. Aurora Investment Counsel now owns 10,520 shares of the company's stock valued at $1,164,000 after buying an additional 138 shares in the last quarter. Finally, Illumine Investment Management LLC raised its holdings in Neurocrine Biosciences by 1.5% during the first quarter. Illumine Investment Management LLC now owns 9,641 shares of the company's stock valued at $1,066,000 after buying an additional 139 shares in the last quarter. Institutional investors and hedge funds own 92.59% of the company's stock.

Neurocrine Biosciences Price Performance

Shares of NASDAQ:NBIX traded up $2.29 during trading on Thursday, reaching $145.02. The stock had a trading volume of 203,539 shares, compared to its average volume of 1,203,917. Neurocrine Biosciences, Inc. has a 52 week low of $84.23 and a 52 week high of $154.61. The business's 50-day moving average price is $134.81 and its 200 day moving average price is $121.64. The stock has a market capitalization of $14.38 billion, a PE ratio of 42.90, a P/E/G ratio of 1.02 and a beta of 0.28.

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

Insider Activity

In related news, insider Ingrid Delaet sold 457 shares of the business's stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $135.00, for a total value of $61,695.00. Following the completion of the transaction, the insider owned 4,730 shares in the company, valued at $638,550. The trade was a 8.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Kevin Charles Gorman sold 106,322 shares of the business's stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $126.41, for a total transaction of $13,440,164.02. Following the completion of the transaction, the director owned 514,596 shares of the company's stock, valued at $65,050,080.36. This trade represents a 17.12% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 186,960 shares of company stock worth $23,955,553. Insiders own 4.80% of the company's stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Royal Bank Of Canada raised their target price on Neurocrine Biosciences from $144.00 to $149.00 and gave the company an "outperform" rating in a report on Friday, September 5th. Truist Financial began coverage on Neurocrine Biosciences in a research note on Monday, July 21st. They issued a "buy" rating and a $163.00 price objective on the stock. Morgan Stanley lifted their price objective on Neurocrine Biosciences from $158.00 to $163.00 and gave the stock an "overweight" rating in a research note on Friday, September 5th. Guggenheim lifted their price objective on Neurocrine Biosciences from $165.00 to $175.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Finally, Piper Sandler lifted their price objective on Neurocrine Biosciences from $154.00 to $175.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. Seventeen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Neurocrine Biosciences presently has an average rating of "Moderate Buy" and a consensus price target of $160.26.

About Neurocrine Biosciences

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.