Neurocrine Biosciences, Inc. $NBIX Shares Sold by Hudson Bay Capital Management LP

Hudson Bay Capital Management LP decreased its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 47.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,510 shares of the company’s stock after selling 37,083 shares during the quarter. Hudson Bay Capital Management LP’s holdings in Neurocrine Biosciences were worth $5,687,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Golden State Wealth Management LLC raised its holdings in Neurocrine Biosciences by 120.5% during the third quarter. Golden State Wealth Management LLC now owns 183 shares of the company’s stock worth $26,000 after purchasing an additional 100 shares during the last quarter. Eastern Bank acquired a new stake in Neurocrine Biosciences in the 3rd quarter worth about $27,000. Geneos Wealth Management Inc. grew its holdings in Neurocrine Biosciences by 143.6% in the first 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 period. Quent Capital LLC purchased a new stake in shares of Neurocrine Biosciences during the 3rd quarter valued at $32,000. Finally, MAI Capital Management grew its position in Neurocrine Biosciences by 101.2% during the second quarter. MAI Capital Management now owns 328 shares of the company’s stock valued at $41,000 after acquiring an additional 165 shares during the period. 92.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NBIX has been the subject of several analyst reports. Stifel Nicolaus upped their target price on Neurocrine Biosciences from $183.00 to $188.00 and gave the stock a “buy” rating in a research report on Thursday, December 11th. Mizuho boosted their target price on shares of Neurocrine Biosciences from $146.00 to $175.00 and gave the stock a “neutral” rating in a research report on Friday, December 12th. HC Wainwright decreased their price target on Neurocrine Biosciences from $198.00 to $192.00 and set a “buy” rating for the company in a research note on Thursday, February 12th. Needham & Company LLC lowered their price objective on Neurocrine Biosciences from $187.00 to $185.00 and set a “buy” rating for the company in a report on Thursday, February 12th. Finally, Wolfe Research began coverage on Neurocrine Biosciences in a research note on Tuesday, February 24th. They set an “outperform” rating and a $160.00 price objective on the stock. One 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 given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $175.10.

Insider Buying and Selling

In other news, CEO Kyle Gano sold 36,400 shares of the business’s stock in a transaction on Friday, January 16th. The shares were sold at an average price of $132.70, for a total transaction of $4,830,280.00. Following the transaction, the chief executive officer directly owned 140,407 shares in the company, valued at $18,632,008.90. The trade was a 20.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 4.80% of the company’s stock.

Neurocrine Biosciences Trading Down 1.6%

NBIX opened at $127.68 on Friday. The business’s 50 day moving average is $132.34 and its 200-day moving average is $139.93. The stock has a market cap of $12.81 billion, a PE ratio of 27.40, a price-to-earnings-growth ratio of 0.68 and a beta of 0.32. Neurocrine Biosciences, Inc. has a twelve month low of $84.23 and a twelve month high of $160.18.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its 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 firm had revenue of $805.50 million for the quarter, compared to the consensus estimate of $804.21 million. Neurocrine Biosciences had a net margin of 16.73% and a return on equity of 16.48%. The company’s quarterly revenue was up 28.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.69 EPS. As a group, analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 EPS 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.