Vontobel Holding Ltd. Has $517,000 Holdings in Neurocrine Biosciences, Inc. $NBIX

Key Points

• Vontobel Holding Ltd. has reduced its stake in Neurocrine Biosciences by 58.7%, now holding 4,111 shares valued at $517,000 as per their latest SEC filing.
• In the recent earnings report, Neurocrine reported earnings per share of $1.06, exceeding the consensus estimate of $0.98, and a revenue of $687.5 million, surpassing expectations of $653.09 million.
• The stock has received multiple price target increases from analysts, with an average consensus price target of $163.44 and a significant majority rating it as a "Moderate Buy."

Vontobel Holding Ltd. trimmed its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 58.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,111 shares of the company's stock after selling 5,832 shares during the quarter. Vontobel Holding Ltd.'s holdings in Neurocrine Biosciences were worth $517,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Geneos Wealth Management Inc. grew its holdings in Neurocrine Biosciences by 143.6% in the first quarter. Geneos Wealth Management Inc. now owns 229 shares of the company's stock worth $25,000 after purchasing an additional 135 shares during the period. WPG Advisers LLC acquired a new stake in Neurocrine Biosciences in the first quarter worth $32,000. Smallwood Wealth Investment Management LLC acquired a new stake in Neurocrine Biosciences in the first quarter worth $34,000. SVB Wealth LLC acquired a new stake in Neurocrine Biosciences in the first quarter worth $35,000. Finally, Golden State Wealth Management LLC grew its holdings in Neurocrine Biosciences by 116.9% in the first quarter. Golden State Wealth Management LLC now owns 397 shares of the company's stock worth $44,000 after purchasing an additional 214 shares during the period. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Neurocrine Biosciences Stock Performance

Neurocrine Biosciences stock opened at $137.35 on Tuesday. Neurocrine Biosciences, Inc. has a fifty-two week low of $84.23 and a fifty-two week high of $154.61. The stock has a market cap of $13.62 billion, a PE ratio of 40.64, a price-to-earnings-growth ratio of 0.98 and a beta of 0.21. The firm's 50-day simple moving average is $137.75 and its 200 day simple moving average is $125.38.

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

Wall Street Analyst Weigh In

A number of equities research analysts have commented on NBIX shares. Royal Bank Of Canada raised 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. Truist Financial started coverage on shares of Neurocrine Biosciences in a report on Monday, July 21st. They issued a "buy" rating and a $163.00 price target for the company. Guggenheim raised 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. Wall Street Zen upgraded shares of Neurocrine Biosciences from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 2nd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Neurocrine Biosciences from $140.00 to $145.00 and gave the company a "neutral" rating in a report on Thursday, July 31st. Sixteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $163.44.

Insiders Place Their Bets

In other Neurocrine Biosciences 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 transaction, the director directly owned 514,596 shares in the company, valued at $65,050,080.36. The trade was a 17.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.30% of the stock is currently owned by insiders.

Neurocrine Biosciences 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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