Westpac Banking Corp Lowers Stock Holdings in Neurocrine Biosciences, Inc. $NBIX

Key Points

• Westpac Banking Corp reduced its holdings in Neurocrine Biosciences by 69.4%, selling 9,705 shares and now owning only 4,284 shares valued at $474,000.
• Multiple institutional investors have increased their stakes in Neurocrine, with Golden State Wealth Management raising its holdings by 116.9%, and Versant Capital Management increasing theirs by 404.9% during the first quarter.
• In its latest earnings report, Neurocrine Biosciences reported $679.50 million in revenue, surpassing estimates, and declared an EPS of $1.06, exceeding the consensus estimate by $0.08.

Westpac Banking Corp decreased its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 69.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,284 shares of the company's stock after selling 9,705 shares during the quarter. Westpac Banking Corp's holdings in Neurocrine Biosciences were worth $474,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. OneDigital Investment Advisors LLC increased its holdings in Neurocrine Biosciences by 2.1% during the fourth quarter. OneDigital Investment Advisors LLC now owns 4,215 shares of the company's stock worth $575,000 after buying an additional 87 shares during the last quarter. Utah Retirement Systems increased its stake in shares of Neurocrine Biosciences by 0.6% during the 4th quarter. Utah Retirement Systems now owns 16,583 shares of the company's stock worth $2,264,000 after purchasing an additional 100 shares during the last quarter. DE Burlo Group Inc. raised its holdings 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 purchasing an additional 100 shares during the period. 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 purchasing an additional 102 shares during the last quarter. Finally, Sheaff Brock Investment Advisors LLC grew 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 purchasing an additional 120 shares during the period. 92.59% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Neurocrine Biosciences news, Director Kevin Charles Gorman sold 106,322 shares of Neurocrine Biosciences stock in a transaction that occurred on 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 completion of the sale, 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jude Onyia sold 59,819 shares of Neurocrine Biosciences stock in a transaction that occurred on Wednesday, July 9th. The shares were sold at an average price of $130.46, for a total transaction of $7,803,986.74. Following the sale, the insider owned 18,289 shares of the company's stock, valued at approximately $2,385,982.94. The trade was a 76.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 196,573 shares of company stock worth $25,112,766 over the last 90 days. Corporate insiders own 4.30% of the company's stock.

Neurocrine Biosciences Stock Up 0.1%

Shares of NBIX stock traded up $0.09 during trading hours on Monday, reaching $132.99. The company's stock had a trading volume of 200,778 shares, compared to its average volume of 1,271,202. The firm's 50 day simple moving average is $129.21 and its 200-day simple moving average is $119.38. The company has a market capitalization of $13.19 billion, a price-to-earnings ratio of 39.35, a PEG ratio of 0.96 and a beta of 0.25. Neurocrine Biosciences, Inc. has a fifty-two week low of $84.23 and a fifty-two week high of $154.87.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on NBIX shares. Evercore ISI reduced their price target on Neurocrine Biosciences from $190.00 to $185.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. Canaccord Genuity Group increased their price target on shares of Neurocrine Biosciences from $158.00 to $160.00 and gave the stock a "buy" rating in a report on Tuesday, May 6th. JPMorgan Chase & Co. upped their target price on shares of Neurocrine Biosciences from $140.00 to $145.00 and gave the stock a "neutral" rating in a report on Thursday, July 31st. Needham & Company LLC boosted their target price on Neurocrine Biosciences from $138.00 to $139.00 and gave the stock a "buy" rating in a research report on Tuesday, May 6th. Finally, UBS Group raised their price target on Neurocrine Biosciences from $152.00 to $174.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. Three equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $160.90.

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.