Northwestern Mutual Wealth Management Co. Lowers Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Northwestern Mutual Wealth Management Co. decreased its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 92.9% during the second quarter, according to its most recent filing with the SEC. The firm owned 757 shares of the company’s stock after selling 9,950 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Neurocrine Biosciences were worth $104,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in NBIX. RFP Financial Group LLC raised its holdings in Neurocrine Biosciences by 346.5% in the first quarter. RFP Financial Group LLC now owns 192 shares of the company’s stock worth $26,000 after purchasing an additional 149 shares in the last quarter. Mather Group LLC. bought a new position in shares of Neurocrine Biosciences in the 1st quarter worth about $26,000. Ashton Thomas Private Wealth LLC purchased a new position in Neurocrine Biosciences during the 2nd quarter valued at about $28,000. Innealta Capital LLC bought a new stake in Neurocrine Biosciences during the second quarter worth about $30,000. Finally, New Covenant Trust Company N.A. purchased a new stake in Neurocrine Biosciences in the first quarter worth about $32,000. Institutional investors own 92.59% of the company’s stock.

Neurocrine Biosciences Stock Performance

NBIX opened at $115.49 on Friday. The stock has a market cap of $11.62 billion, a price-to-earnings ratio of 31.82 and a beta of 0.36. The firm’s fifty day moving average is $129.62 and its 200 day moving average is $135.74. Neurocrine Biosciences, Inc. has a fifty-two week low of $103.63 and a fifty-two week high of $157.98.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on NBIX shares. Citigroup lifted their target price on shares of Neurocrine Biosciences from $150.00 to $158.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. HC Wainwright restated a “buy” rating and set a $190.00 price objective on shares of Neurocrine Biosciences in a research note on Thursday, August 29th. JPMorgan Chase & Co. upped their target price on shares of Neurocrine Biosciences from $173.00 to $181.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Piper Sandler raised shares of Neurocrine Biosciences from a “neutral” rating to an “overweight” rating and raised their price target for the company from $131.00 to $159.00 in a research report on Thursday, August 29th. Finally, Guggenheim upped their price objective on Neurocrine Biosciences from $170.00 to $180.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Five analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $164.52.

Insiders Place Their Bets

In other news, Director William H. Rastetter sold 14,250 shares of Neurocrine Biosciences stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $146.69, for a total transaction of $2,090,332.50. Following the sale, the director now owns 37,491 shares in the company, valued at $5,499,554.79. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Neurocrine Biosciences news, Director William H. Rastetter sold 14,250 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $146.69, for a total value of $2,090,332.50. Following the sale, the director now owns 37,491 shares in the company, valued at $5,499,554.79. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Matt Abernethy sold 14,100 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $150.38, for a total value of $2,120,358.00. Following the transaction, the chief financial officer now owns 31,528 shares of the company’s stock, valued at approximately $4,741,180.64. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 61,798 shares of company stock worth $9,274,196 in the last three months. 4.30% of the stock is owned by company insiders.

Neurocrine Biosciences 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.