Vanguard Group Inc. Decreases Stock Holdings in Neurocrine Biosciences, Inc. $NBIX

Vanguard Group Inc. reduced its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 1.0% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,706,559 shares of the company’s stock after selling 100,507 shares during the period. Vanguard Group Inc. owned 9.74% of Neurocrine Biosciences worth $1,362,607,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the company. Golden State Wealth Management LLC boosted its stake in Neurocrine Biosciences by 120.5% in the third quarter. Golden State Wealth Management LLC now owns 183 shares of the company’s stock valued at $26,000 after acquiring an additional 100 shares in the last quarter. Eastern Bank purchased a new stake in shares of Neurocrine Biosciences during the 3rd quarter valued at $27,000. Geneos Wealth Management Inc. lifted its holdings in shares of Neurocrine Biosciences by 143.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock valued at $25,000 after purchasing an additional 135 shares during the last quarter. Quent Capital LLC acquired a new stake in shares of Neurocrine Biosciences in the 3rd quarter worth $32,000. Finally, MAI Capital Management grew its stake in Neurocrine Biosciences by 101.2% during the 2nd quarter. MAI Capital Management now owns 328 shares of the company’s stock worth $41,000 after buying an additional 165 shares during the last quarter. Institutional investors own 92.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on NBIX shares. Royal Bank Of Canada decreased their price target on Neurocrine Biosciences from $180.00 to $177.00 and set an “outperform” rating for the company in a research note on Thursday, February 12th. Wells Fargo & Company cut their price objective on shares of Neurocrine Biosciences from $180.00 to $175.00 and set an “overweight” rating on the stock in a report on Friday, February 13th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Neurocrine Biosciences in a research report on Thursday, January 22nd. Needham & Company LLC cut their price target on shares of Neurocrine Biosciences from $187.00 to $185.00 and set a “buy” rating on the stock in a research note on Thursday, February 12th. Finally, JPMorgan Chase & Co. cut their target price on Neurocrine Biosciences from $177.00 to $176.00 and set an “overweight” rating on the stock in a research report on Tuesday. Sixteen analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $175.84.

Insider Buying and Selling

In other Neurocrine Biosciences news, Director Leslie V. Norwalk sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $152.23, for a total value of $761,150.00. Following the completion of the transaction, the director directly owned 7,429 shares of the company’s stock, valued at approximately $1,130,916.67. The trade was a 40.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director George J. Morrow sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $143.37, for a total transaction of $2,150,550.00. Following the sale, the director directly owned 7,068 shares in the company, valued at $1,013,339.16. The trade was a 67.97% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 61,966 shares of company stock valued at $8,625,166 in the last ninety days. Insiders own 4.80% of the company’s stock.

Neurocrine Biosciences Price Performance

NASDAQ NBIX opened at $128.63 on Friday. Neurocrine Biosciences, Inc. has a 1 year low of $84.23 and a 1 year high of $160.18. The company has a market capitalization of $12.91 billion, a PE ratio of 27.60, a P/E/G ratio of 0.68 and a beta of 0.31. The company has a fifty day moving average of $137.46 and a 200 day moving average of $140.28.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings results on Wednesday, February 11th. The company reported $1.88 earnings per share for the quarter, missing the consensus estimate of $2.36 by ($0.48). The company had revenue of $805.50 million for the quarter, compared to analyst estimates of $804.21 million. Neurocrine Biosciences had a return on equity of 16.48% and a net margin of 16.73%.Neurocrine Biosciences’s revenue for the quarter was up 28.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.69 earnings per share. Research analysts expect that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.

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.