GW&K Investment Management LLC Has $83.44 Million Stock Holdings in Neurocrine Biosciences, Inc. $NBIX

GW&K Investment Management LLC trimmed its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 2.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 594,385 shares of the company’s stock after selling 17,980 shares during the quarter. Neurocrine Biosciences accounts for 0.7% of GW&K Investment Management LLC’s portfolio, making the stock its 26th largest position. GW&K Investment Management LLC’s holdings in Neurocrine Biosciences were worth $83,440,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. AlTi Global Inc. raised its stake in Neurocrine Biosciences by 1.0% during the 3rd quarter. AlTi Global Inc. now owns 6,828 shares of the company’s stock worth $959,000 after buying an additional 70 shares during the period. Vanguard Personalized Indexing Management LLC increased its holdings in shares of Neurocrine Biosciences by 0.7% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 11,112 shares of the company’s stock worth $1,560,000 after acquiring an additional 77 shares in the last quarter. Diametric Capital LP increased its holdings in shares of Neurocrine Biosciences by 2.6% in the second quarter. Diametric Capital LP now owns 3,244 shares of the company’s stock worth $408,000 after acquiring an additional 81 shares in the last quarter. Great Lakes Advisors LLC raised its position in shares of Neurocrine Biosciences by 2.4% during the third quarter. Great Lakes Advisors LLC now owns 3,605 shares of the company’s stock worth $506,000 after purchasing an additional 84 shares during the period. Finally, Bessemer Group Inc. raised its position in shares of Neurocrine Biosciences by 3.4% during the third quarter. Bessemer Group Inc. now owns 2,871 shares of the company’s stock worth $402,000 after purchasing an additional 95 shares during the period. Institutional investors and hedge funds own 92.59% of the company’s stock.

Insider Activity

In other news, insider Darin Lippoldt sold 4,376 shares of the firm’s stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $159.65, for a total value of $698,628.40. Following the completion of the transaction, the insider owned 43,405 shares in the company, valued at $6,929,608.25. This trade represents a 9.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Leslie V. Norwalk sold 5,000 shares of the company’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $152.23, for a total value of $761,150.00. Following the sale, the director owned 7,429 shares in the company, valued at $1,130,916.67. The trade was a 40.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 46,966 shares of company stock worth $6,474,616 in the last quarter. Corporate insiders own 4.80% of the company’s stock.

Neurocrine Biosciences Stock Up 1.8%

Shares of NBIX stock opened at $133.44 on Thursday. The company’s fifty day simple moving average is $135.00 and its 200-day simple moving average is $140.52. The firm has a market cap of $13.39 billion, a PE ratio of 28.64, a P/E/G ratio of 0.68 and a beta of 0.32. Neurocrine Biosciences, Inc. has a 12 month low of $84.23 and a 12 month high of $160.18.

Neurocrine Biosciences (NASDAQ:NBIX) last released its earnings results on Wednesday, February 11th. The company reported $1.88 earnings per share 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 during the quarter, compared to the consensus estimate of $804.21 million. During the same period last year, the business posted $1.69 EPS. The firm’s revenue for the quarter was up 28.3% on a year-over-year basis. On average, equities analysts predict that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

NBIX has been the subject of several research analyst reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Neurocrine Biosciences in a research report on Thursday, January 22nd. Wolfe Research started coverage on shares of Neurocrine Biosciences in a research note on Tuesday, February 24th. They issued an “outperform” rating and a $160.00 price target on the stock. BMO Capital Markets lowered their price objective on shares of Neurocrine Biosciences from $147.00 to $140.00 and set a “market perform” rating for the company in a research report on Thursday, February 12th. HC Wainwright dropped their price objective on shares of Neurocrine Biosciences from $198.00 to $192.00 and set a “buy” rating on the stock in a report on Thursday, February 12th. Finally, UBS Group cut their price objective on shares of Neurocrine Biosciences from $188.00 to $178.00 and set a “buy” rating on the stock in a research report on Friday, January 23rd. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $175.05.

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.