Squarepoint Ops LLC Reduces Holdings in Neurocrine Biosciences, Inc. $NBIX

Squarepoint Ops LLC lessened its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 91.0% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 44,143 shares of the company’s stock after selling 443,810 shares during the quarter. Squarepoint Ops LLC’s holdings in Neurocrine Biosciences were worth $7,440,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. grew its position in 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 acquiring an additional 135 shares during the period. DJE Kapital AG acquired a new position in shares of Neurocrine Biosciences in the 4th quarter valued at $28,000. Basecamp Wealth Advisors LLC grew its holdings in shares of Neurocrine Biosciences by 582.9% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 239 shares of the company’s stock worth $31,000 after purchasing an additional 204 shares during the period. Cassaday & Co Wealth Management LLC purchased a new position in shares of Neurocrine Biosciences during the 1st quarter worth $33,000. Finally, Meeder Asset Management Inc. increased its position in shares of Neurocrine Biosciences by 651.6% during the 4th quarter. Meeder Asset Management Inc. now owns 233 shares of the company’s stock worth $33,000 after purchasing an additional 202 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Neurocrine Biosciences Price Performance

Shares of NASDAQ:NBIX opened at $156.57 on Friday. The firm has a market capitalization of $15.92 billion, a PE ratio of 22.96, a price-to-earnings-growth ratio of 0.73 and a beta of 0.38. Neurocrine Biosciences, Inc. has a 1 year low of $122.14 and a 1 year high of $186.12. The firm’s 50-day moving average is $164.82 and its two-hundred day moving average is $151.22.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings data on Friday, July 31st. The company reported $2.85 EPS for the quarter, beating the consensus estimate of $1.65 by $1.20. The business had revenue of $959.00 million during the quarter, compared to analyst estimates of $891.16 million. Neurocrine Biosciences had a net margin of 20.91% and a return on equity of 22.43%. The business’s revenue for the quarter was up 39.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.65 earnings per share. Analysts expect that Neurocrine Biosciences, Inc. will post 7.25 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Ingrid Delaet sold 4,367 shares of the company’s stock in a transaction on Friday, July 10th. The stock was sold at an average price of $181.02, for a total transaction of $790,514.34. Following the sale, the insider owned 16,225 shares of the company’s stock, valued at approximately $2,937,049.50. This represents a 21.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Leslie Norwalk sold 1,250 shares of the stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $182.01, for a total value of $227,512.50. Following the completion of the sale, the director owned 1,588 shares in the company, valued at approximately $289,031.88. The trade was a 44.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 40,188 shares of company stock worth $7,118,633 in the last ninety days. 4.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. TD Cowen boosted their price objective on shares of Neurocrine Biosciences from $200.00 to $220.00 and gave the company a “buy” rating in a report on Friday, July 31st. Truist Financial upped their price objective on shares of Neurocrine Biosciences from $200.00 to $213.00 and gave the stock a “buy” rating in a report on Monday, August 3rd. BMO Capital Markets increased their price objective on shares of Neurocrine Biosciences from $144.00 to $170.00 and gave the stock a “market perform” rating in a research report on Monday, July 13th. The Goldman Sachs Group began coverage on shares of Neurocrine Biosciences in a report on Tuesday, June 2nd. They issued a “buy” rating and a $213.00 target price for the company. Finally, Needham & Company LLC boosted their target price on Neurocrine Biosciences from $200.00 to $204.00 and gave the company a “buy” rating in a research report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $201.05.

Neurocrine Biosciences Company Profile

Neurocrine Biosciences, Inc is a biopharmaceutical company focused on discovering, developing and commercializing medicines for neurological, neuroendocrine and psychiatric disorders. The company develops therapies for conditions with significant unmet medical needs, using expertise in neuroscience and endocrine biology.

Its primary commercial product is INGREZZA (valbenazine), a vesicular monoamine transporter 2 inhibitor approved in the United States for the treatment of tardive dyskinesia and chorea associated with Huntington’s disease.