Summit Investment Advisors Inc. Sells 662 Shares of Neurocrine Biosciences, Inc. $NBIX

Summit Investment Advisors Inc. reduced its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 3.3% during the 1st quarter, HoldingsChannel.com reports. The firm owned 19,617 shares of the company’s stock after selling 662 shares during the period. Summit Investment Advisors Inc.’s holdings in Neurocrine Biosciences were worth $2,170,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. Dodge & Cox lifted its position in Neurocrine Biosciences by 83.5% during the first quarter. Dodge & Cox now owns 5,534,624 shares of the company’s stock worth $612,129,000 after purchasing an additional 2,518,199 shares during the period. Wellington Management Group LLP raised its position in shares of Neurocrine Biosciences by 44.0% in the 1st quarter. Wellington Management Group LLP now owns 2,097,981 shares of the company’s stock valued at $232,037,000 after buying an additional 640,556 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Neurocrine Biosciences by 3.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,539,601 shares of the company’s stock worth $170,281,000 after acquiring an additional 49,088 shares during the period. Braidwell LP lifted its holdings in shares of Neurocrine Biosciences by 32.2% during the 1st quarter. Braidwell LP now owns 1,191,925 shares of the company’s stock worth $131,827,000 after acquiring an additional 290,135 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Neurocrine Biosciences by 8.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,159,367 shares of the company’s stock worth $128,226,000 after acquiring an additional 89,271 shares in the last quarter. Institutional investors own 92.59% of the company’s stock.

Neurocrine Biosciences Price Performance

Shares of NASDAQ NBIX opened at $152.37 on Monday. The company has a 50 day simple moving average of $142.02 and a 200 day simple moving average of $131.63. Neurocrine Biosciences, Inc. has a 1 year low of $84.23 and a 1 year high of $157.67. The firm has a market cap of $15.19 billion, a PE ratio of 36.45, a price-to-earnings-growth ratio of 0.94 and a beta of 0.22.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings results on Tuesday, October 28th. The company reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.46. The firm had revenue of $794.90 million during the quarter, compared to analysts’ expectations of $746.61 million. Neurocrine Biosciences had a net margin of 15.95% and a return on equity of 15.82%. The company’s revenue was up 27.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.81 EPS. As a group, research analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have commented on NBIX. UBS Group boosted their price objective on shares of Neurocrine Biosciences from $188.00 to $195.00 and gave the company a “buy” rating in a research report on Thursday, October 9th. Citigroup boosted their price target on Neurocrine Biosciences from $175.00 to $203.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Truist Financial restated a “buy” rating and set a $172.00 price objective (up from $165.00) on shares of Neurocrine Biosciences in a research report on Thursday, October 30th. Canaccord Genuity Group lifted their target price on Neurocrine Biosciences from $160.00 to $164.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Neurocrine Biosciences in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $170.26.

Insiders Place Their Bets

In related news, Director William H. Rastetter sold 18,000 shares of the stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $151.82, for a total value of $2,732,760.00. Following the completion of the sale, the director directly owned 40,360 shares in the company, valued at $6,127,455.20. This represents a 30.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Kyle Gano sold 300 shares of Neurocrine Biosciences stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $141.97, for a total value of $42,591.00. Following the transaction, the chief executive officer directly owned 140,407 shares in the company, valued at $19,933,581.79. The trade was a 0.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 4.80% of the company’s stock.

Neurocrine Biosciences Company Profile

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.