Neurocrine Biosciences, Inc. $NBIX Shares Sold by Primecap Management Co. CA

Primecap Management Co. CA lessened its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 2.2% in the 3rd quarter, Holdings Channel reports. The firm owned 512,260 shares of the company’s stock after selling 11,780 shares during the period. Primecap Management Co. CA’s holdings in Neurocrine Biosciences were worth $71,911,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in NBIX. Intech Investment Management LLC grew its stake in shares of Neurocrine Biosciences by 22.2% in the third quarter. Intech Investment Management LLC now owns 34,655 shares of the company’s stock valued at $4,865,000 after buying an additional 6,307 shares in the last quarter. Roberts Glore & Co. Inc. IL purchased a new position in Neurocrine Biosciences during the 3rd quarter valued at about $209,000. Fox Run Management L.L.C. acquired a new position in Neurocrine Biosciences in the 3rd quarter valued at about $1,388,000. Waddell & Associates LLC purchased a new stake in Neurocrine Biosciences during the third quarter worth about $312,000. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Neurocrine Biosciences by 106.3% during the third quarter. EverSource Wealth Advisors LLC now owns 3,685 shares of the company’s stock worth $517,000 after purchasing an additional 1,899 shares in the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Neurocrine Biosciences

In other Neurocrine Biosciences news, CEO Kyle Gano sold 36,400 shares of the stock in a transaction that occurred on Friday, January 16th. The shares were 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 in the company, valued at $18,632,008.90. This represents a 20.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Leslie V. Norwalk sold 1,190 shares of the firm’s stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $155.09, for a total transaction of $184,557.10. Following the sale, the director directly owned 6,239 shares in the company, valued at approximately $967,606.51. The trade was a 16.02% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 46,966 shares of company stock valued at $6,474,616. Corporate insiders own 4.80% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on NBIX. JPMorgan Chase & Co. dropped their price objective on shares of Neurocrine Biosciences from $177.00 to $176.00 and set an “overweight” rating for the company in a report on Tuesday, February 17th. Truist Financial decreased their price target on shares of Neurocrine Biosciences from $169.00 to $140.00 and set a “buy” rating for the company in a research report on Tuesday, February 17th. Morgan Stanley restated an “equal weight” rating and issued a $175.00 price target (up from $173.00) on shares of Neurocrine Biosciences in a research note on Thursday, January 8th. Needham & Company LLC reduced their price objective on Neurocrine Biosciences from $187.00 to $185.00 and set a “buy” rating on the stock in a research note on Thursday, February 12th. Finally, Stifel Nicolaus boosted their target price 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 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 company has an average rating of “Moderate Buy” and an average target price of $175.05.

Neurocrine Biosciences Trading Down 0.4%

Neurocrine Biosciences stock opened at $130.64 on Friday. The company has a fifty day simple moving average of $136.15 and a 200-day simple moving average of $140.37. The stock has a market cap of $13.11 billion, a P/E ratio of 28.03, a price-to-earnings-growth ratio of 0.68 and a beta of 0.31. Neurocrine Biosciences, Inc. has a 12-month low of $84.23 and a 12-month high of $160.18.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly 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). The business had revenue of $805.50 million during the quarter, compared to analyst estimates of $804.21 million. Neurocrine Biosciences had a net margin of 16.73% and a return on equity of 16.48%. The firm’s quarterly revenue was up 28.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.69 earnings per share. As a group, sell-side analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

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.