Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Shares Sold by Central Pacific Bank Trust Division

Central Pacific Bank Trust Division trimmed its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 32.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,902 shares of the company’s stock after selling 2,335 shares during the quarter. Central Pacific Bank Trust Division’s holdings in Neurocrine Biosciences were worth $565,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Sanctuary Advisors LLC acquired a new stake in Neurocrine Biosciences in the 2nd quarter valued at about $510,000. Cetera Investment Advisers lifted its holdings in Neurocrine Biosciences by 7.9% in the 2nd quarter. Cetera Investment Advisers now owns 7,112 shares of the company’s stock valued at $979,000 after acquiring an additional 519 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in Neurocrine Biosciences in the 2nd quarter valued at about $509,000. Lion Point Capital LP lifted its holdings in Neurocrine Biosciences by 11.3% in the 2nd quarter. Lion Point Capital LP now owns 8,350 shares of the company’s stock valued at $1,150,000 after acquiring an additional 850 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in Neurocrine Biosciences by 0.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 125,401 shares of the company’s stock valued at $17,264,000 after acquiring an additional 1,074 shares during the last quarter. 92.59% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have issued reports on NBIX. Needham & Company LLC restated a “hold” rating on shares of Neurocrine Biosciences in a report on Thursday, August 29th. Citigroup boosted their price objective on Neurocrine Biosciences from $150.00 to $158.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Morgan Stanley boosted their price objective on Neurocrine Biosciences from $160.00 to $170.00 and gave the stock an “overweight” rating in a report on Friday, July 12th. Piper Sandler upgraded Neurocrine Biosciences from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $131.00 to $159.00 in a report on Thursday, August 29th. Finally, StockNews.com upgraded Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a report on Sunday, August 4th. Five research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Neurocrine Biosciences presently has an average rating of “Moderate Buy” and an average target price of $162.20.

Neurocrine Biosciences Stock Performance

Shares of NASDAQ NBIX opened at $111.88 on Friday. The stock has a market cap of $11.26 billion, a price-to-earnings ratio of 30.82 and a beta of 0.37. The business has a 50 day simple moving average of $132.94 and a 200 day simple moving average of $136.74. Neurocrine Biosciences, Inc. has a 52 week low of $103.63 and a 52 week high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its earnings results on Thursday, August 1st. The company reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.52). The company had revenue of $590.20 million for the quarter, compared to the consensus estimate of $545.98 million. Neurocrine Biosciences had a return on equity of 14.86% and a net margin of 16.00%. The firm’s revenue for the quarter was up 30.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.95 EPS. On average, analysts predict that Neurocrine Biosciences, Inc. will post 4.19 EPS for the current year.

Insiders Place Their Bets

In other Neurocrine Biosciences news, insider Julie Cooke sold 900 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $150.04, for a total transaction of $135,036.00. Following the completion of the sale, the insider now owns 18,202 shares of the company’s stock, valued at $2,731,028.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Neurocrine Biosciences news, insider Julie Cooke sold 900 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $150.04, for a total transaction of $135,036.00. Following the completion of the sale, the insider now owns 18,202 shares of the company’s stock, valued at $2,731,028.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William H. Rastetter sold 14,250 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $146.69, for a total value of $2,090,332.50. Following the sale, the director now directly owns 37,491 shares of the company’s stock, valued at approximately $5,499,554.79. The disclosure for this sale can be found here. Insiders sold 61,798 shares of company stock valued at $9,274,196 over the last 90 days. 4.30% of the stock is currently owned by company insiders.

Neurocrine Biosciences Company Profile

Neurocrine Biosciences, Inc discovers, develops, and markets pharmaceuticals for neurological, neuroendocrine, and neuropsychiatric disorders in the United States and internationally. The company's products include INGREZZA for tardive dyskinesia and chorea associated with Huntington's disease; ALKINDI for adrenal insufficiency; Efmody capsules for classic congenital adrenal hyperplasia; Orilissa tablets for endometriosis; and Oriahnn capsules to treat uterine fibroids.