Neurocrine Biosciences, Inc. $NBIX Shares Sold by Braidwell LP

Braidwell LP reduced its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 24.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 880,282 shares of the company’s stock after selling 280,143 shares during the quarter. Neurocrine Biosciences accounts for 3.7% of Braidwell LP’s investment portfolio, making the stock its 8th biggest holding. Braidwell LP owned about 0.88% of Neurocrine Biosciences worth $123,574,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the stock. Arrowstreet Capital Limited Partnership raised its position in Neurocrine Biosciences by 87.9% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 125,162 shares of the company’s stock worth $15,732,000 after buying an additional 58,562 shares during the last quarter. Saturn V Capital Management LP purchased a new stake in shares of Neurocrine Biosciences in the second quarter valued at about $7,313,000. Capital Fund Management S.A. boosted its holdings in shares of Neurocrine Biosciences by 15.9% in the second quarter. Capital Fund Management S.A. now owns 203,628 shares of the company’s stock valued at $25,594,000 after acquiring an additional 27,987 shares in the last quarter. Rhenman & Partners Asset Management AB increased its stake in shares of Neurocrine Biosciences by 66.1% during the second quarter. Rhenman & Partners Asset Management AB now owns 149,217 shares of the company’s stock worth $18,755,000 after acquiring an additional 59,400 shares during the period. Finally, Robeco Institutional Asset Management B.V. increased its stake in shares of Neurocrine Biosciences by 86.7% during the third quarter. Robeco Institutional Asset Management B.V. now owns 28,185 shares of the company’s stock worth $3,957,000 after acquiring an additional 13,087 shares during the period. Institutional investors and hedge funds own 92.59% of the company’s stock.

Neurocrine Biosciences Trading Up 1.6%

Shares of NBIX opened at $129.78 on Friday. The firm’s 50-day moving average is $133.08 and its two-hundred day moving average is $140.27. Neurocrine Biosciences, Inc. has a twelve month low of $84.23 and a twelve month high of $160.18. The firm has a market capitalization of $13.02 billion, a P/E ratio of 27.85, a PEG ratio of 0.68 and a beta of 0.32.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. HC Wainwright reduced their price objective on shares of Neurocrine Biosciences from $198.00 to $192.00 and set a “buy” rating for the company in a research report on Thursday, February 12th. Morgan Stanley reiterated an “equal weight” rating and set a $175.00 target price (up from $173.00) on shares of Neurocrine Biosciences in a research report on Thursday, January 8th. Weiss Ratings reissued a “hold (c+)” rating on shares of Neurocrine Biosciences in a research note on Thursday, January 22nd. Citigroup raised their price target on Neurocrine Biosciences from $203.00 to $204.00 and gave the company a “buy” rating in a report on Thursday, February 12th. Finally, TD Cowen lifted their price target on Neurocrine Biosciences from $175.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, December 5th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $175.10.

Insider Activity at Neurocrine Biosciences

In related news, Director Leslie V. Norwalk sold 1,190 shares of the business’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 completion of the transaction, the director owned 6,239 shares of the company’s stock, valued at approximately $967,606.51. The trade was a 16.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Kyle Gano sold 36,400 shares of the company’s stock in a transaction dated Friday, January 16th. The shares were sold at an average price of $132.70, for a total transaction of $4,830,280.00. Following the completion of the transaction, the chief executive officer owned 140,407 shares in the company, valued at approximately $18,632,008.90. This trade represents a 20.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 42,590 shares of company stock worth $5,775,987 over the last quarter. Company insiders own 4.80% of the company’s stock.

Neurocrine Biosciences Profile

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.