Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Shares Sold by MQS Management LLC

MQS Management LLC cut its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 28.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,872 shares of the company’s stock after selling 1,126 shares during the period. MQS Management LLC’s holdings in Neurocrine Biosciences were worth $395,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Vestal Point Capital LP purchased a new stake in shares of Neurocrine Biosciences in the fourth quarter worth about $105,408,000. Norges Bank acquired a new position in Neurocrine Biosciences in the fourth quarter valued at approximately $35,731,000. Vanguard Group Inc. boosted its position in Neurocrine Biosciences by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 9,930,926 shares of the company’s stock worth $1,369,673,000 after purchasing an additional 220,598 shares in the last quarter. Iron Triangle Partners LP acquired a new stake in shares of Neurocrine Biosciences during the 1st quarter worth approximately $30,342,000. Finally, Renaissance Technologies LLC increased its holdings in shares of Neurocrine Biosciences by 9.6% during the 2nd quarter. Renaissance Technologies LLC now owns 2,468,146 shares of the company’s stock valued at $339,790,000 after purchasing an additional 216,500 shares in the last quarter. 92.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NBIX has been the topic of several analyst reports. Wedbush restated an “outperform” rating and set a $152.00 price target on shares of Neurocrine Biosciences in a research report on Wednesday, May 29th. UBS Group lifted their price target on Neurocrine Biosciences from $174.00 to $193.00 and gave the company a “buy” rating in a research note on Tuesday, May 28th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $155.00 price target on shares of Neurocrine Biosciences in a report on Monday. Barclays dropped their price target on shares of Neurocrine Biosciences from $180.00 to $160.00 and set an “overweight” rating on the stock in a research note on Monday, September 9th. Finally, Guggenheim increased their target price on Neurocrine Biosciences from $170.00 to $180.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Five research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Neurocrine Biosciences has a consensus rating of “Moderate Buy” and a consensus target price of $162.20.

Insider Transactions at Neurocrine Biosciences

In other news, insider Ingrid Delaet sold 273 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $147.70, for a total value of $40,322.10. Following the completion of the transaction, the insider now owns 6,607 shares in the company, valued at approximately $975,853.90. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, insider Ingrid Delaet sold 273 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $147.70, for a total value of $40,322.10. Following the completion of the sale, the insider now directly owns 6,607 shares of the company’s stock, valued at $975,853.90. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Julie Cooke sold 900 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $150.04, for a total value of $135,036.00. Following the transaction, the insider now directly owns 18,202 shares in the company, valued at approximately $2,731,028.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 71,798 shares of company stock worth $10,676,096. 4.30% of the stock is currently owned by insiders.

Neurocrine Biosciences Stock Up 0.5 %

Shares of NBIX stock opened at $120.46 on Friday. Neurocrine Biosciences, Inc. has a 52 week low of $103.63 and a 52 week high of $157.98. The stock has a market capitalization of $12.12 billion, a PE ratio of 33.18 and a beta of 0.37. The firm has a 50 day moving average of $139.07 and a two-hundred day moving average of $138.24.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its earnings results on Thursday, August 1st. The company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.52). Neurocrine Biosciences had a return on equity of 14.86% and a net margin of 16.00%. The firm had revenue of $590.20 million for the quarter, compared to analyst estimates of $545.98 million. During the same quarter in the previous year, the firm posted $0.95 EPS. The business’s revenue for the quarter was up 30.4% on a year-over-year basis. Analysts expect that Neurocrine Biosciences, Inc. will post 4.19 EPS for the current fiscal year.

About Neurocrine Biosciences

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.