Neurocrine Biosciences, Inc. $NBIX Shares Sold by Hudson Bay Capital Management LP

Hudson Bay Capital Management LP decreased its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 47.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,510 shares of the company’s stock after selling 37,083 shares during the quarter. Hudson Bay Capital Management LP’s holdings in Neurocrine Biosciences were worth $5,687,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of NBIX. Golden State Wealth Management LLC grew its position in Neurocrine Biosciences by 120.5% during the 3rd quarter. Golden State Wealth Management LLC now owns 183 shares of the company’s stock worth $26,000 after purchasing an additional 100 shares during the last quarter. Eastern Bank purchased a new stake in shares of Neurocrine Biosciences in the third quarter valued at about $27,000. Geneos Wealth Management Inc. raised its holdings in shares of 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 buying an additional 135 shares during the last quarter. Quent Capital LLC acquired a new stake in shares of Neurocrine Biosciences during the third quarter worth about $32,000. Finally, MAI Capital Management boosted its stake in shares of Neurocrine Biosciences by 101.2% during the second quarter. MAI Capital Management now owns 328 shares of the company’s stock worth $41,000 after buying an additional 165 shares during the period. Institutional investors and hedge funds own 92.59% of the company’s stock.

Neurocrine Biosciences Stock Down 1.6%

NASDAQ NBIX opened at $127.68 on Friday. The stock has a market capitalization of $12.81 billion, a P/E ratio of 27.40, a P/E/G ratio of 0.68 and a beta of 0.32. Neurocrine Biosciences, Inc. has a 52-week low of $84.23 and a 52-week high of $160.18. The firm has a 50-day moving average price of $132.34 and a 200 day moving average price of $139.93.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings data 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 analysts’ expectations of $804.21 million. During the same period in the prior year, the firm posted $1.69 EPS. Neurocrine Biosciences’s revenue for the quarter was up 28.3% compared to the same quarter last year. On average, equities research analysts expect that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

Insider Activity at Neurocrine Biosciences

In other news, CEO Kyle Gano sold 36,400 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer directly owned 140,407 shares of the company’s stock, valued at $18,632,008.90. This trade represents a 20.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.80% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on NBIX shares. Mizuho boosted their price target on Neurocrine Biosciences from $146.00 to $175.00 and gave the company a “neutral” rating in a research report on Friday, December 12th. UBS Group decreased their price objective on Neurocrine Biosciences from $188.00 to $178.00 and set a “buy” rating for the company in a research report on Friday, January 23rd. Wolfe Research began coverage on Neurocrine Biosciences in a research note on Tuesday, February 24th. They issued an “outperform” rating and a $160.00 target price on the stock. Zacks Research lowered Neurocrine Biosciences from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 17th. Finally, Stifel Nicolaus upped their price target on Neurocrine Biosciences from $183.00 to $188.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $175.10.

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.