Eagle Health Investments LP Has $22.85 Million Position in Neurocrine Biosciences, Inc. $NBIX

Eagle Health Investments LP lowered its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 25.0% during the 3rd quarter, Holdings Channel reports. The fund owned 162,800 shares of the company’s stock after selling 54,400 shares during the period. Neurocrine Biosciences makes up approximately 6.0% of Eagle Health Investments LP’s portfolio, making the stock its 6th largest holding. Eagle Health Investments LP’s holdings in Neurocrine Biosciences were worth $22,854,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the business. Royal Bank of Canada increased its holdings in shares of Neurocrine Biosciences by 36.7% during the first quarter. Royal Bank of Canada now owns 82,810 shares of the company’s stock valued at $9,158,000 after purchasing an additional 22,224 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Neurocrine Biosciences by 60.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,783 shares of the company’s stock worth $1,647,000 after buying an additional 5,577 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in Neurocrine Biosciences by 56.3% in the 1st quarter. NewEdge Advisors LLC now owns 7,630 shares of the company’s stock valued at $844,000 after acquiring an additional 2,747 shares during the last quarter. Empowered Funds LLC acquired a new position in Neurocrine Biosciences in the first quarter worth approximately $1,333,000. Finally, Geneos Wealth Management Inc. increased its stake in Neurocrine Biosciences by 143.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock worth $25,000 after purchasing an additional 135 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 a number of research analyst reports. JPMorgan Chase & Co. reduced their target price on Neurocrine Biosciences from $177.00 to $176.00 and set an “overweight” rating for the company in a report on Tuesday. TD Cowen upped their target price on Neurocrine Biosciences from $175.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday, December 5th. Truist Financial dropped their price target on Neurocrine Biosciences from $169.00 to $140.00 and set a “buy” rating on the stock in a research report on Tuesday. Morgan Stanley reiterated an “equal weight” rating and issued a $175.00 target price (up previously from $173.00) on shares of Neurocrine Biosciences in a research note on Thursday, January 8th. Finally, HC Wainwright dropped their price objective on shares of Neurocrine Biosciences from $198.00 to $192.00 and set a “buy” rating for the company in a research note on Thursday, February 12th. Sixteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, Neurocrine Biosciences has an average rating of “Moderate Buy” and a consensus target price of $175.84.

Neurocrine Biosciences Stock Performance

Shares of NBIX opened at $127.76 on Wednesday. The company has a market cap of $12.82 billion, a price-to-earnings ratio of 27.42, a PEG ratio of 0.57 and a beta of 0.31. The stock has a fifty day moving average price of $138.98 and a two-hundred day moving average price of $140.43. Neurocrine Biosciences, Inc. has a 52-week low of $84.23 and a 52-week high of $160.18.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings results on Wednesday, February 11th. The company reported $1.88 earnings per share (EPS) 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 the consensus estimate of $804.21 million. Neurocrine Biosciences had a net margin of 16.73% and a return on equity of 16.48%. The business’s quarterly revenue was up 28.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.69 earnings per share. As a group, research analysts predict that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

Insider Transactions at Neurocrine Biosciences

In other news, Director Leslie V. Norwalk sold 5,000 shares of the business’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $152.23, for a total transaction of $761,150.00. Following the completion of the sale, the director owned 7,429 shares in the company, valued at $1,130,916.67. The trade was a 40.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Darin Lippoldt sold 4,376 shares of the company’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $159.65, for a total transaction of $698,628.40. Following the transaction, the insider owned 43,405 shares in the company, valued at approximately $6,929,608.25. The trade was a 9.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 61,966 shares of company stock worth $8,625,166 in the last quarter. 4.30% of the stock is owned by corporate insiders.

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.