Rafferty Asset Management LLC Has $8.24 Million Stock Holdings in Neurocrine Biosciences, Inc. $NBIX

Rafferty Asset Management LLC reduced its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 25.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,701 shares of the company’s stock after selling 20,445 shares during the period. Rafferty Asset Management LLC’s holdings in Neurocrine Biosciences were worth $8,240,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NBIX. Dodge & Cox increased its stake in shares of Neurocrine Biosciences by 0.6% in the 2nd quarter. Dodge & Cox now owns 5,566,814 shares of the company’s stock valued at $699,693,000 after purchasing an additional 32,190 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Neurocrine Biosciences by 11.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,730,152 shares of the company’s stock worth $664,019,000 after buying an additional 468,405 shares during the last quarter. AQR Capital Management LLC boosted its stake in Neurocrine Biosciences by 40.5% in the second quarter. AQR Capital Management LLC now owns 1,510,015 shares of the company’s stock valued at $189,794,000 after buying an additional 435,385 shares in the last quarter. Norges Bank acquired a new stake in Neurocrine Biosciences in the second quarter valued at about $122,278,000. Finally, Charles Schwab Investment Management Inc. grew its position in Neurocrine Biosciences by 1.8% in the second quarter. Charles Schwab Investment Management Inc. now owns 789,715 shares of the company’s stock valued at $99,259,000 after acquiring an additional 13,942 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Wall Street Zen cut shares of Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a report on Monday, February 16th. Citigroup upped their price objective on shares of Neurocrine Biosciences from $203.00 to $204.00 and gave the stock a “buy” rating in a research report on Thursday, February 12th. TD Cowen increased their price objective on shares of Neurocrine Biosciences from $175.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, December 5th. Truist Financial cut their target price on shares of Neurocrine Biosciences from $169.00 to $140.00 and set a “buy” rating on the stock in a research report on Tuesday, February 17th. Finally, Wedbush upped their price target on shares of Neurocrine Biosciences from $149.00 to $151.00 and gave the stock an “outperform” rating in a report on Thursday, February 12th. 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Neurocrine Biosciences has an average rating of “Moderate Buy” and an average price target of $175.05.

Neurocrine Biosciences Price Performance

NASDAQ:NBIX opened at $132.25 on Monday. Neurocrine Biosciences, Inc. has a one year low of $84.23 and a one year high of $160.18. The company has a market cap of $13.27 billion, a PE ratio of 28.38, a P/E/G ratio of 0.69 and a beta of 0.32. The firm’s 50 day simple moving average is $135.90 and its 200 day simple moving average is $140.57.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings results on Wednesday, February 11th. The company reported $1.88 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company’s revenue was up 28.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.69 earnings per share. Equities research analysts expect that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

Insider Activity at Neurocrine Biosciences

In related news, CEO Kyle Gano sold 36,400 shares of the firm’s stock in a transaction on Friday, January 16th. The stock was sold at an average price of $132.70, for a total transaction of $4,830,280.00. Following the completion of the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Darin Lippoldt sold 4,376 shares of Neurocrine Biosciences 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 transaction, the insider directly owned 43,405 shares in the company, valued at $6,929,608.25. The trade was a 9.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 46,966 shares of company stock worth $6,474,616 over the last three months. Company insiders own 4.30% of the company’s stock.

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.