Victory Capital Management Inc. Lowers Stock Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Victory Capital Management Inc. trimmed its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 51.6% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 91,909 shares of the company's stock after selling 97,987 shares during the quarter. Victory Capital Management Inc. owned 0.09% of Neurocrine Biosciences worth $10,165,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Huntington National Bank increased its position in shares of Neurocrine Biosciences by 73.5% in the fourth quarter. Huntington National Bank now owns 229 shares of the company's stock worth $31,000 after purchasing an additional 97 shares during the period. Smallwood Wealth Investment Management LLC acquired a new position in Neurocrine Biosciences in the first quarter valued at approximately $34,000. GeoWealth Management LLC lifted its stake in Neurocrine Biosciences by 65.4% in the fourth quarter. GeoWealth Management LLC now owns 258 shares of the company's stock valued at $35,000 after buying an additional 102 shares during the period. Golden State Wealth Management LLC lifted its stake 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 during the period. Finally, Versant Capital Management Inc raised its position 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 purchasing an additional 328 shares during the period. 92.59% of the stock is owned by institutional investors.

Neurocrine Biosciences Stock Up 0.4%

Shares of NBIX stock traded up $0.50 on Friday, reaching $132.14. The stock had a trading volume of 1,255,339 shares, compared to its average volume of 752,857. The firm's 50-day moving average is $126.91 and its two-hundred day moving average is $121.34. The firm has a market capitalization of $13.08 billion, a price-to-earnings ratio of 44.79, a P/E/G ratio of 1.35 and a beta of 0.24. Neurocrine Biosciences, Inc. has a 12 month low of $84.23 and a 12 month high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last posted its earnings results on Monday, May 5th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.70 by ($0.62). The company had revenue of $572.60 million for the quarter, compared to analyst estimates of $587.06 million. Neurocrine Biosciences had a return on equity of 11.81% and a net margin of 12.68%. The business's quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.20 EPS. On average, sell-side analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

Insider Activity

In other Neurocrine Biosciences news, Director William H. Rastetter sold 30,000 shares of the firm's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $110.20, for a total value of $3,306,000.00. Following the transaction, the director directly owned 37,491 shares of the company's stock, valued at $4,131,508.20. This trade represents a 44.45% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jude Onyia sold 59,819 shares of the company's stock in a transaction that occurred on Wednesday, July 9th. The stock was sold at an average price of $130.46, for a total transaction of $7,803,986.74. Following the transaction, the insider owned 18,289 shares of the company's stock, valued at approximately $2,385,982.94. This represents a 76.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 120,251 shares of company stock valued at $14,978,602 in the last 90 days. 4.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

NBIX has been the subject of a number of analyst reports. Needham & Company LLC increased their price target on Neurocrine Biosciences from $138.00 to $139.00 and gave the company a "buy" rating in a research report on Tuesday, May 6th. Canaccord Genuity Group increased their price target on Neurocrine Biosciences from $158.00 to $160.00 and gave the stock a "buy" rating in a research note on Tuesday, May 6th. Piper Sandler reaffirmed an "overweight" rating and set a $154.00 target price (down previously from $160.00) on shares of Neurocrine Biosciences in a report on Tuesday, May 6th. Wedbush reiterated an "outperform" rating on shares of Neurocrine Biosciences in a research report on Tuesday, May 6th. Finally, HC Wainwright dropped their target price on Neurocrine Biosciences from $185.00 to $168.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Three research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company's stock. According to data from MarketBeat, Neurocrine Biosciences presently has a consensus rating of "Moderate Buy" and a consensus target price of $163.87.

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.