Persistent Asset Partners Ltd Sells 12,931 Shares of Neurocrine Biosciences, Inc. $NBIX

Persistent Asset Partners Ltd decreased its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 59.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,694 shares of the company’s stock after selling 12,931 shares during the quarter. Persistent Asset Partners Ltd’s holdings in Neurocrine Biosciences were worth $1,220,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in NBIX. Beirne Wealth Consulting Services LLC acquired a new position in Neurocrine Biosciences during the third quarter worth $298,000. GSA Capital Partners LLP acquired a new position in shares of Neurocrine Biosciences during the 3rd quarter worth about $335,000. Rothschild Investment LLC bought a new stake in shares of Neurocrine Biosciences in the 3rd quarter valued at about $388,000. M&G PLC bought a new stake in shares of Neurocrine Biosciences in the 3rd quarter valued at about $11,716,000. Finally, Pallas Capital Advisors LLC lifted its stake in Neurocrine Biosciences by 65.2% in the 3rd quarter. Pallas Capital Advisors LLC now owns 15,513 shares of the company’s stock valued at $2,178,000 after purchasing an additional 6,120 shares during the last quarter. Institutional investors own 92.59% of the company’s stock.

Insider Buying and Selling at Neurocrine Biosciences

In related news, Director Leslie V. Norwalk sold 1,190 shares of the company’s stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $155.09, for a total value of $184,557.10. Following the sale, the director owned 6,239 shares in the company, valued at $967,606.51. This represents a 16.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Darin Lippoldt sold 4,376 shares of the firm’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $159.65, for a total transaction of $698,628.40. Following the completion of the transaction, the insider directly owned 43,405 shares in the company, valued at approximately $6,929,608.25. The trade was a 9.16% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 61,966 shares of company stock valued at $8,625,166. Insiders own 4.80% of the company’s stock.

Analyst Ratings Changes

NBIX has been the topic of several research analyst reports. Morgan Stanley restated an “equal weight” rating and issued a $175.00 price objective (up previously from $173.00) on shares of Neurocrine Biosciences in a research note on Thursday, January 8th. Canaccord Genuity Group upped their price objective on shares of Neurocrine Biosciences from $160.00 to $164.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. BMO Capital Markets cut their target price on shares of Neurocrine Biosciences from $147.00 to $140.00 and set a “market perform” rating for the company in a research note on Thursday, February 12th. Citigroup upped their price target on shares of Neurocrine Biosciences from $203.00 to $204.00 and gave the company a “buy” rating in a research note on Thursday, February 12th. Finally, Royal Bank Of Canada lowered their target price on Neurocrine Biosciences from $180.00 to $177.00 and set an “outperform” rating on the stock in a research note on Thursday, February 12th. Sixteen analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $175.84.

Neurocrine Biosciences Stock Up 1.3%

Shares of NASDAQ:NBIX opened at $130.10 on Friday. Neurocrine Biosciences, Inc. has a twelve month low of $84.23 and a twelve month high of $160.18. The stock’s 50 day moving average is $137.94 and its 200-day moving average is $140.27. The firm has a market capitalization of $13.06 billion, a price-to-earnings ratio of 27.92, a PEG ratio of 0.67 and a beta of 0.31.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings results on Wednesday, February 11th. The company reported $1.88 EPS for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.48). Neurocrine Biosciences had a net margin of 16.73% and a return on equity of 16.48%. The business had revenue of $805.50 million for the quarter, compared to the consensus estimate of $804.21 million. During the same quarter last year, the firm posted $1.69 EPS. The business’s revenue for the quarter was up 28.3% compared to the same quarter last year. Equities research analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

About Neurocrine Biosciences

Neurocrine Biosciences (NASDAQ: NBIX) is a biopharmaceutical company based in San Diego, California, focused on developing treatments for neurological, endocrine and neuropsychiatric disorders. Since its founding in 1992, the company has pursued a research‐driven strategy aimed at addressing unmet medical needs in movement disorders, reproductive health and central nervous system conditions. Neurocrine’s operations encompass drug discovery, clinical development and commercialization activities.

The company’s lead marketed product, Ingrezza™ (valbenazine), is indicated for the treatment of tardive dyskinesia, a movement disorder associated with long-term antipsychotic use.