Neurocrine Biosciences, Inc. $NBIX Stake Reduced by Brighton Jones LLC

Brighton Jones LLC decreased its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 26.9% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 9,381 shares of the company’s stock after selling 3,449 shares during the period. Brighton Jones LLC’s holdings in Neurocrine Biosciences were worth $1,331,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Parallel Advisors LLC lifted its position in Neurocrine Biosciences by 3.5% during the 3rd quarter. Parallel Advisors LLC now owns 1,780 shares of the company’s stock worth $252,000 after buying an additional 61 shares in the last quarter. NewEdge Advisors LLC boosted its stake in shares of Neurocrine Biosciences by 0.5% during the 1st quarter. NewEdge Advisors LLC now owns 13,066 shares of the company’s stock worth $1,721,000 after buying an additional 68 shares during the last quarter. Westpac Banking Corp grew its holdings in shares of Neurocrine Biosciences by 6.0% in the 1st quarter. Westpac Banking Corp now owns 1,615 shares of the company’s stock valued at $213,000 after acquiring an additional 91 shares in the last quarter. Meiji Yasuda Life Insurance Co grew its holdings in shares of Neurocrine Biosciences by 1.8% in the 2nd quarter. Meiji Yasuda Life Insurance Co now owns 5,628 shares of the company’s stock valued at $949,000 after acquiring an additional 100 shares in the last quarter. Finally, ProShare Advisors LLC grew its holdings in shares of Neurocrine Biosciences by 1.7% in the 3rd quarter. ProShare Advisors LLC now owns 7,388 shares of the company’s stock valued at $1,048,000 after acquiring an additional 124 shares in the last quarter. Institutional investors own 92.59% of the company’s stock.

Neurocrine Biosciences Price Performance

Shares of NBIX stock opened at $169.14 on Wednesday. The stock has a market cap of $17.12 billion, a P/E ratio of 21.16, a P/E/G ratio of 0.68 and a beta of 0.36. The company has a fifty day moving average price of $147.81 and a two-hundred day moving average price of $148.38. Neurocrine Biosciences, Inc. has a one year low of $122.14 and a one year high of $186.12.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings data on Monday, November 2nd. The company reported $3.29 earnings per share for the quarter, topping the consensus estimate of $1.91 by $1.38. The company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.04 billion. Neurocrine Biosciences had a net margin of 18.98% and a return on equity of 23.39%. Neurocrine Biosciences’s revenue for the quarter was up 41.3% compared to the same quarter last year. During the same period in the previous year, the business earned $2.04 EPS. As a group, equities research analysts anticipate that Neurocrine Biosciences, Inc. will post 8.41 EPS for the current fiscal year.

Insider Activity at Neurocrine Biosciences

In other Neurocrine Biosciences news, insider David W. Boyer sold 826 shares of the company’s stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $157.45, for a total value of $130,053.70. Following the sale, the insider owned 8,722 shares in the company, valued at $1,373,278.90. This represents a 8.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director George Morrow sold 7,200 shares of Neurocrine Biosciences stock in a transaction that occurred on Tuesday, November 3rd. The stock was sold at an average price of $166.37, for a total value of $1,197,864.00. Following the transaction, the director owned 10,386 shares of the company’s stock, valued at $1,727,918.82. This represents a 40.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 18,137 shares of company stock worth $2,829,332. Insiders own 4.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Citigroup lifted their target price on Neurocrine Biosciences from $249.00 to $253.00 and gave the company a “buy” rating in a research report on Thursday, September 3rd. Mizuho raised Neurocrine Biosciences to a “hold” rating in a research report on Wednesday, September 16th. Zacks Research downgraded Neurocrine Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 4th. Needham & Company LLC reaffirmed a “buy” rating and set a $204.00 price target on shares of Neurocrine Biosciences in a research report on Friday, October 16th. Finally, Royal Bank Of Canada boosted their price target on Neurocrine Biosciences from $187.00 to $190.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $202.32.

About Neurocrine Biosciences

Neurocrine Biosciences is a biopharmaceutical company focused on developing and commercializing treatments for neurological, endocrine and related disorders. Founded in 1992 and headquartered in San Diego, California, the company conducts research and development alongside its commercial operations. Its marketed medicines include INGREZZA (valbenazine), approved in the United States for tardive dyskinesia and chorea associated with Huntington disease, and CRENESSITY (crinecerfont), used with glucocorticoid replacement therapy to treat classic congenital adrenal hyperplasia in adults and children.