Distillate Capital Partners LLC Trims Stock Holdings in Neurocrine Biosciences, Inc. $NBIX

Distillate Capital Partners LLC lowered its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 22.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 94,416 shares of the company’s stock after selling 27,198 shares during the quarter. Distillate Capital Partners LLC owned about 0.09% of Neurocrine Biosciences worth $13,262,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Dodge & Cox lifted its holdings in shares of Neurocrine Biosciences by 0.6% in the 2nd quarter. Dodge & Cox now owns 5,566,814 shares of the company’s stock worth $699,693,000 after acquiring an additional 32,190 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Neurocrine Biosciences by 11.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,730,152 shares of the company’s stock valued at $664,019,000 after purchasing an additional 468,405 shares during the last quarter. AQR Capital Management LLC raised its position in Neurocrine Biosciences by 83.7% in the third quarter. AQR Capital Management LLC now owns 2,773,648 shares of the company’s stock valued at $388,435,000 after purchasing an additional 1,263,633 shares during the period. Deerfield Management Company L.P. lifted its stake in Neurocrine Biosciences by 1.4% during the third quarter. Deerfield Management Company L.P. now owns 1,184,345 shares of the company’s stock worth $166,258,000 after purchasing an additional 16,543 shares in the last quarter. Finally, Norges Bank acquired a new position in Neurocrine Biosciences during the second quarter worth $122,278,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Neurocrine Biosciences Trading Up 1.6%

NASDAQ:NBIX opened at $129.78 on Monday. Neurocrine Biosciences, Inc. has a 12-month low of $84.23 and a 12-month high of $160.18. The firm has a market cap of $13.02 billion, a PE ratio of 27.85, a price-to-earnings-growth ratio of 0.68 and a beta of 0.32. The stock has a fifty day moving average price of $133.08 and a 200 day moving average price of $140.28.

Neurocrine Biosciences (NASDAQ:NBIX) last issued 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). Neurocrine Biosciences had a return on equity of 16.48% and a net margin of 16.73%.The company had revenue of $805.50 million for the quarter, compared to analysts’ expectations of $804.21 million. During the same quarter last year, the company earned $1.69 EPS. Neurocrine Biosciences’s revenue for the quarter was up 28.3% compared to the same quarter last year. Equities analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. UBS Group dropped their price objective on Neurocrine Biosciences from $188.00 to $178.00 and set a “buy” rating for the company in a research note on Friday, January 23rd. JPMorgan Chase & Co. increased their target price on Neurocrine Biosciences from $176.00 to $177.00 and gave the stock an “overweight” rating in a research note on Thursday. Wedbush lifted their target price on Neurocrine Biosciences from $149.00 to $151.00 and gave the company an “outperform” rating in a research report on Thursday, February 12th. Wall Street Zen lowered shares of Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research note on Monday, February 16th. Finally, Citigroup raised their price objective on shares of Neurocrine Biosciences from $203.00 to $204.00 and gave the company a “buy” rating in a research note on Thursday, February 12th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $175.10.

Insider Activity at Neurocrine Biosciences

In related news, CEO Kyle Gano sold 36,400 shares of the firm’s stock in a transaction that occurred on Friday, January 16th. The shares were sold at an average price of $132.70, for a total value of $4,830,280.00. Following the sale, the chief executive officer owned 140,407 shares of the company’s stock, valued at $18,632,008.90. This trade represents a 20.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Leslie V. Norwalk sold 1,190 shares of Neurocrine Biosciences stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $155.09, for a total transaction of $184,557.10. Following the completion of the transaction, the director owned 6,239 shares of the company’s stock, valued at $967,606.51. This represents a 16.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 4.30% of the stock is owned by company insiders.

Neurocrine Biosciences Profile

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.