SG Americas Securities LLC Lowers Holdings in Neurocrine Biosciences, Inc. $NBIX

SG Americas Securities LLC reduced its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 97.2% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 4,834 shares of the company’s stock after selling 170,779 shares during the period. SG Americas Securities LLC’s holdings in Neurocrine Biosciences were worth $608,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Geneos Wealth Management Inc. boosted its stake 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 worth $25,000 after buying an additional 135 shares during the last quarter. WPG Advisers LLC acquired a new position in Neurocrine Biosciences in the first quarter valued at approximately $32,000. SVB Wealth LLC acquired a new position in Neurocrine Biosciences in the first quarter valued at approximately $35,000. True Wealth Design LLC boosted its position in Neurocrine Biosciences by 1,215.4% in the 2nd quarter. True Wealth Design LLC now owns 342 shares of the company’s stock worth $43,000 after purchasing an additional 316 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its position in Neurocrine Biosciences by 6,285.7% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 447 shares of the company’s stock worth $49,000 after purchasing an additional 440 shares in the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

Wall Street Analyst Weigh In

NBIX has been the subject of several analyst reports. JPMorgan Chase & Co. boosted their target price on shares of Neurocrine Biosciences from $171.00 to $179.00 and gave the company an “overweight” rating in a research note on Monday, November 3rd. UBS Group raised their price target 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. Piper Sandler upped their price objective on shares of Neurocrine Biosciences from $175.00 to $179.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. Weiss Ratings reissued a “hold (c+)” rating on shares of Neurocrine Biosciences in a research note on Wednesday, October 8th. Finally, Guggenheim raised their target price on Neurocrine Biosciences from $165.00 to $175.00 and gave the company a “buy” rating in a research report on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $170.53.

Insiders Place Their Bets

In other Neurocrine Biosciences news, CEO Kyle Gano sold 300 shares of Neurocrine Biosciences stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $141.97, for a total transaction of $42,591.00. Following the sale, the chief executive officer owned 140,407 shares of the company’s stock, valued at $19,933,581.79. The trade was a 0.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director William H. Rastetter sold 18,000 shares of the company’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $151.82, for a total transaction of $2,732,760.00. Following the sale, the director directly owned 40,360 shares of the company’s stock, valued at $6,127,455.20. The trade was a 30.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 4.80% of the company’s stock.

Neurocrine Biosciences Trading Up 1.6%

NBIX stock opened at $143.53 on Wednesday. Neurocrine Biosciences, Inc. has a 12-month low of $84.23 and a 12-month high of $157.67. The business’s 50-day moving average is $142.44 and its 200 day moving average is $134.35. The stock has a market cap of $14.31 billion, a price-to-earnings ratio of 34.34, a PEG ratio of 0.94 and a beta of 0.22.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its earnings results on Tuesday, October 28th. The company reported $2.17 EPS for the quarter, beating analysts’ consensus estimates of $1.58 by $0.59. The business had revenue of $794.90 million during the quarter, compared to analysts’ expectations of $746.61 million. Neurocrine Biosciences had a return on equity of 15.82% and a net margin of 15.95%.The business’s revenue was up 27.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.81 earnings per share. As a group, equities analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

Neurocrine Biosciences 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.