Boone Capital Management LLC Has $23.36 Million Stake in Neurocrine Biosciences, Inc. $NBIX

Boone Capital Management LLC decreased its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 7.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 166,414 shares of the company’s stock after selling 13,924 shares during the period. Neurocrine Biosciences makes up about 7.7% of Boone Capital Management LLC’s portfolio, making the stock its 6th biggest position. Boone Capital Management LLC owned about 0.17% of Neurocrine Biosciences worth $23,361,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of NBIX. Geneos Wealth Management Inc. grew its position in Neurocrine Biosciences by 143.6% in the first quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock valued at $25,000 after acquiring an additional 135 shares during the last quarter. Golden State Wealth Management LLC lifted its holdings in shares of Neurocrine Biosciences by 120.5% in the third quarter. Golden State Wealth Management LLC now owns 183 shares of the company’s stock worth $26,000 after acquiring an additional 100 shares during the last quarter. Eastern Bank bought a new position in shares of Neurocrine Biosciences in the third quarter worth about $27,000. Quent Capital LLC acquired a new stake in shares of Neurocrine Biosciences in the 3rd quarter valued at approximately $32,000. Finally, MAI Capital Management boosted its stake in shares of Neurocrine Biosciences by 101.2% in the 2nd quarter. MAI Capital Management now owns 328 shares of the company’s stock valued at $41,000 after purchasing an additional 165 shares in the last quarter. 92.59% of the stock is currently owned by institutional investors.

Neurocrine Biosciences Price Performance

NBIX opened at $129.78 on Friday. Neurocrine Biosciences, Inc. has a fifty-two week low of $84.23 and a fifty-two week high of $160.18. The firm has a market capitalization of $13.02 billion, a price-to-earnings ratio of 27.85, a PEG ratio of 0.68 and a beta of 0.32. The company’s 50 day moving average price is $133.08 and its two-hundred day moving average price is $140.27.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings results on Wednesday, February 11th. The company reported $1.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.36 by ($0.48). The business had revenue of $805.50 million for the quarter, compared to the consensus estimate 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 period in the previous year, the business posted $1.69 EPS. As a group, equities research analysts predict that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on NBIX shares. HC Wainwright lowered 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. Wolfe Research started coverage on shares of Neurocrine Biosciences in a research note on Tuesday, February 24th. They set an “outperform” rating and a $160.00 target price on the stock. UBS Group lowered their price target on shares of Neurocrine Biosciences from $188.00 to $178.00 and set a “buy” rating for the company in a report on Friday, January 23rd. Mizuho increased their price target on Neurocrine Biosciences from $146.00 to $175.00 and gave the company a “neutral” rating in a research note on Friday, December 12th. Finally, Truist Financial cut their price objective on Neurocrine Biosciences from $169.00 to $140.00 and set a “buy” rating on the stock in a report on Tuesday, February 17th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $175.10.

Insider Buying and Selling at Neurocrine Biosciences

In related news, Director Leslie V. Norwalk sold 1,190 shares of the stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $155.09, for a total value of $184,557.10. Following the completion of the sale, the director directly owned 6,239 shares in the company, valued at $967,606.51. This represents a 16.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Kyle Gano sold 36,400 shares of the firm’s stock in a transaction on Friday, January 16th. The stock was sold at an average price of $132.70, for a total value of $4,830,280.00. Following the transaction, the chief executive officer directly owned 140,407 shares of the company’s stock, valued at approximately $18,632,008.90. This represents a 20.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 42,590 shares of company stock worth $5,775,987. 4.80% of the stock is currently owned by insiders.

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.