Lisanti Capital Growth LLC Trims Stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Lisanti Capital Growth LLC cut its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 74.6% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,755 shares of the company’s stock after selling 19,875 shares during the period. Lisanti Capital Growth LLC’s holdings in Neurocrine Biosciences were worth $890,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Headinvest LLC purchased a new position in Neurocrine Biosciences in the third quarter worth $28,000. Lindbrook Capital LLC lifted its stake in Neurocrine Biosciences by 85.0% in the fourth quarter. Lindbrook Capital LLC now owns 209 shares of the company’s stock worth $28,000 after purchasing an additional 96 shares during the last quarter. Benjamin F. Edwards & Company Inc. bought a new stake in Neurocrine Biosciences in the fourth quarter worth $33,000. BluePath Capital Management LLC bought a new stake in Neurocrine Biosciences in the third quarter worth $35,000. Finally, Sunbelt Securities Inc. lifted its stake in Neurocrine Biosciences by 34.3% in the third quarter. Sunbelt Securities Inc. now owns 325 shares of the company’s stock worth $37,000 after purchasing an additional 83 shares during the last quarter. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Neurocrine Biosciences Trading Up 1.0 %

NBIX traded up $1.48 during midday trading on Tuesday, reaching $143.19. The company’s stock had a trading volume of 644,768 shares, compared to its average volume of 847,640. The firm has a market capitalization of $14.41 billion, a price-to-earnings ratio of 39.19 and a beta of 0.28. Neurocrine Biosciences, Inc. has a 1 year low of $89.04 and a 1 year high of $148.37. The stock’s 50-day moving average is $137.49 and its 200-day moving average is $129.22.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings results on Wednesday, February 7th. The company reported $1.44 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.31. Neurocrine Biosciences had a net margin of 18.65% and a return on equity of 17.45%. The firm had revenue of $515.20 million for the quarter, compared to analysts’ expectations of $518.52 million. During the same quarter in the prior year, the company posted $0.88 earnings per share. The business’s revenue for the quarter was up 25.0% on a year-over-year basis. As a group, equities research analysts forecast that Neurocrine Biosciences, Inc. will post 4.78 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Richard F. Pops sold 15,000 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $132.47, for a total transaction of $1,987,050.00. Following the sale, the director now owns 29,512 shares in the company, valued at $3,909,454.64. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, insider Eric Benevich sold 19,818 shares of the stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $133.36, for a total transaction of $2,642,928.48. Following the transaction, the insider now owns 40,778 shares in the company, valued at $5,438,154.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Richard F. Pops sold 15,000 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $132.47, for a total transaction of $1,987,050.00. Following the transaction, the director now owns 29,512 shares in the company, valued at approximately $3,909,454.64. The disclosure for this sale can be found here. Insiders have sold a total of 176,771 shares of company stock worth $24,360,922 over the last 90 days. 4.30% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have weighed in on NBIX shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $155.00 price target on shares of Neurocrine Biosciences in a research note on Wednesday, April 10th. Canaccord Genuity Group upped their price objective on shares of Neurocrine Biosciences from $154.00 to $164.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Citigroup upped their price objective on shares of Neurocrine Biosciences from $140.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday. HC Wainwright upped their price objective on shares of Neurocrine Biosciences from $150.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Finally, JPMorgan Chase & Co. upped their price objective on shares of Neurocrine Biosciences from $148.00 to $158.00 and gave the company an “overweight” rating in a research note on Wednesday, March 20th. Six investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Neurocrine Biosciences currently has an average rating of “Moderate Buy” and an average price target of $147.88.

About Neurocrine Biosciences

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.