Shell Asset Management Co. Sells 4,486 Shares of Neurocrine Biosciences, Inc. $NBIX

Shell Asset Management Co. lessened its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 79.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,136 shares of the company’s stock after selling 4,486 shares during the quarter. Shell Asset Management Co.’s holdings in Neurocrine Biosciences were worth $159,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in NBIX. AlTi Global Inc. grew its position in shares of Neurocrine Biosciences by 1.0% during the 3rd quarter. AlTi Global Inc. now owns 6,828 shares of the company’s stock worth $959,000 after buying an additional 70 shares during the period. Vanguard Personalized Indexing Management LLC grew its holdings in Neurocrine Biosciences by 0.7% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 11,112 shares of the company’s stock valued at $1,560,000 after purchasing an additional 77 shares during the period. Diametric Capital LP increased its stake in Neurocrine Biosciences by 2.6% in the second quarter. Diametric Capital LP now owns 3,244 shares of the company’s stock valued at $408,000 after purchasing an additional 81 shares in the last quarter. Great Lakes Advisors LLC raised its holdings in Neurocrine Biosciences by 2.4% in the third quarter. Great Lakes Advisors LLC now owns 3,605 shares of the company’s stock worth $506,000 after purchasing an additional 84 shares during the period. Finally, Bessemer Group Inc. boosted its position in shares of Neurocrine Biosciences by 3.4% during the third quarter. Bessemer Group Inc. now owns 2,871 shares of the company’s stock worth $402,000 after purchasing an additional 95 shares in the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on NBIX. Royal Bank Of Canada dropped their price objective on Neurocrine Biosciences from $180.00 to $177.00 and set an “outperform” rating on the stock in a research note on Thursday, February 12th. Wells Fargo & Company lowered their price target on Neurocrine Biosciences from $180.00 to $175.00 and set an “overweight” rating for the company in a report on Friday, February 13th. Citigroup lifted their price objective on Neurocrine Biosciences from $203.00 to $204.00 and gave the company a “buy” rating in a report on Thursday, February 12th. JPMorgan Chase & Co. decreased their price objective on Neurocrine Biosciences from $177.00 to $176.00 and set an “overweight” rating for the company in a research report on Tuesday. Finally, BMO Capital Markets dropped their target price on shares of Neurocrine Biosciences from $147.00 to $140.00 and set a “market perform” rating on the stock in a report on Thursday, February 12th. Sixteen investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $175.84.

Neurocrine Biosciences Stock Performance

Shares of Neurocrine Biosciences stock opened at $130.10 on Friday. The business’s 50 day simple moving average is $137.94 and its 200 day simple moving average is $140.27. Neurocrine Biosciences, Inc. has a 52-week low of $84.23 and a 52-week high of $160.18. The firm has a market cap of $13.06 billion, a PE ratio of 27.92, a P/E/G ratio of 0.67 and a beta of 0.31.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings results on Wednesday, February 11th. The company reported $1.88 earnings per share for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.48). Neurocrine Biosciences had a return on equity of 16.48% and a net margin of 16.73%.The firm had revenue of $805.50 million for the quarter, compared to analyst estimates of $804.21 million. During the same period last year, the company earned $1.69 EPS. The company’s revenue was up 28.3% compared to the same quarter last year. As a group, equities research analysts predict that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

Insider Buying and Selling at Neurocrine Biosciences

In other news, insider Darin Lippoldt sold 4,376 shares of the firm’s stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $159.65, for a total value of $698,628.40. Following the completion of the transaction, the insider owned 43,405 shares in the company, valued at $6,929,608.25. This trade represents a 9.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Leslie V. Norwalk sold 5,000 shares of Neurocrine Biosciences stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $152.23, for a total value of $761,150.00. Following the completion of the sale, the director directly owned 7,429 shares in the company, valued at approximately $1,130,916.67. This represents a 40.23% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 61,966 shares of company stock valued at $8,625,166. Corporate insiders own 4.80% of the company’s stock.

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.