Burney Co. Decreases Stock Position in Neurocrine Biosciences, Inc. $NBIX

Burney Co. reduced its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 29.5% in the 2nd quarter, Holdings Channel.com reports. The firm owned 9,523 shares of the company’s stock after selling 3,980 shares during the period. Burney Co.’s holdings in Neurocrine Biosciences were worth $1,197,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of NBIX. Dodge & Cox lifted its position in shares of Neurocrine Biosciences by 83.5% during the 1st quarter. Dodge & Cox now owns 5,534,624 shares of the company’s stock worth $612,129,000 after purchasing an additional 2,518,199 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Neurocrine Biosciences by 44.0% during the 1st quarter. Wellington Management Group LLP now owns 2,097,981 shares of the company’s stock worth $232,037,000 after purchasing an additional 640,556 shares during the last quarter. Swedbank AB lifted its position in shares of Neurocrine Biosciences by 5,078.9% during the 1st quarter. Swedbank AB now owns 429,697 shares of the company’s stock worth $47,524,000 after purchasing an additional 421,400 shares during the last quarter. Braidwell LP lifted its position in shares of Neurocrine Biosciences by 32.2% during the 1st quarter. Braidwell LP now owns 1,191,925 shares of the company’s stock worth $131,827,000 after purchasing an additional 290,135 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in shares of Neurocrine Biosciences during the 1st quarter worth $31,686,000. 92.59% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Neurocrine Biosciences

In other news, CEO Kyle Gano sold 300 shares of the company’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $141.97, for a total value of $42,591.00. Following the completion of the sale, the chief executive officer directly owned 140,407 shares of the company’s stock, valued at approximately $19,933,581.79. This represents a 0.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kevin Charles Gorman sold 106,322 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $65,050,080.36. The trade was a 17.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 4.80% of the stock is currently owned by corporate insiders.

Neurocrine Biosciences Stock Performance

Shares of NASDAQ:NBIX opened at $143.19 on Wednesday. The company has a 50-day simple moving average of $141.14 and a 200-day simple moving average of $130.54. Neurocrine Biosciences, Inc. has a one year low of $84.23 and a one year high of $154.61. The stock has a market capitalization of $14.28 billion, a price-to-earnings ratio of 34.26, a PEG ratio of 0.94 and a beta of 0.21.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its earnings results on Tuesday, October 28th. The company reported $2.04 EPS for the quarter, beating analysts’ consensus estimates of $1.58 by $0.46. Neurocrine Biosciences had a net margin of 15.95% and a return on equity of 15.82%. The business had revenue of $794.90 million during the quarter, compared to analysts’ expectations of $746.61 million. During the same period in the prior year, the company earned $1.81 earnings per share. The business’s revenue was up 27.8% compared to the same quarter last year. As a group, research analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

Analyst Ratings Changes

NBIX has been the subject of several recent analyst reports. Canaccord Genuity Group lifted their price objective on shares of Neurocrine Biosciences from $160.00 to $164.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Piper Sandler lifted their price objective on shares of Neurocrine Biosciences from $175.00 to $179.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. Wedbush reissued an “outperform” rating on shares of Neurocrine Biosciences in a research report on Monday, September 22nd. Morgan Stanley boosted their price target on shares of Neurocrine Biosciences from $163.00 to $168.00 and gave the company an “overweight” rating in a research report on Monday, October 20th. Finally, Truist Financial reissued a “buy” rating and issued a $172.00 target price (up from $165.00) on shares of Neurocrine Biosciences in a report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $170.26.

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.