Neurocrine Biosciences, Inc. $NBIX Shares Sold by Primecap Management Co. CA

Primecap Management Co. CA decreased its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 2.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 512,260 shares of the company’s stock after selling 11,780 shares during the quarter. Primecap Management Co. CA owned approximately 0.51% of Neurocrine Biosciences worth $71,911,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Geneos Wealth Management Inc. boosted its holdings in Neurocrine Biosciences by 143.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock worth $25,000 after buying an additional 135 shares during the last quarter. Golden State Wealth Management LLC lifted its position in shares of Neurocrine Biosciences by 120.5% in the third quarter. Golden State Wealth Management LLC now owns 183 shares of the company’s stock valued at $26,000 after acquiring an additional 100 shares in the last quarter. Eastern Bank acquired a new stake in shares of Neurocrine Biosciences in the third quarter worth approximately $27,000. Quent Capital LLC purchased a new stake in shares of Neurocrine Biosciences during the third quarter worth approximately $32,000. Finally, MAI Capital Management raised its stake in Neurocrine Biosciences by 101.2% in the 2nd quarter. MAI Capital Management now owns 328 shares of the company’s stock valued at $41,000 after purchasing an additional 165 shares during the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

Insider Buying and Selling

In other Neurocrine Biosciences news, CEO Kyle Gano sold 36,400 shares of the firm’s stock in a transaction on Friday, January 16th. The stock was sold at an average price of $132.70, for a total transaction of $4,830,280.00. Following the completion of 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Leslie V. Norwalk sold 5,000 shares of Neurocrine Biosciences stock in a transaction on Monday, December 15th. The shares were sold at an average price of $152.23, for a total value of $761,150.00. Following the completion of the sale, the director owned 7,429 shares in the company, valued at $1,130,916.67. This represents a 40.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 46,966 shares of company stock worth $6,474,616. Company insiders own 4.80% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Royal Bank Of Canada lowered their target price on shares of Neurocrine Biosciences from $180.00 to $177.00 and set an “outperform” rating on the stock in a research note on Thursday, February 12th. HC Wainwright reduced their target price on shares of Neurocrine Biosciences from $198.00 to $192.00 and set a “buy” rating for the company in a research report on Thursday, February 12th. JPMorgan Chase & Co. lowered their price target on shares of Neurocrine Biosciences from $177.00 to $176.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 17th. Morgan Stanley reaffirmed an “equal weight” rating and set a $175.00 price objective (up from $173.00) on shares of Neurocrine Biosciences in a research note on Thursday, January 8th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Neurocrine Biosciences in a report on Thursday, January 22nd. One investment 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 issued a Sell rating to the stock. According to data from MarketBeat, Neurocrine Biosciences presently has an average rating of “Moderate Buy” and a consensus price target of $175.05.

Neurocrine Biosciences Trading Down 0.4%

Neurocrine Biosciences stock opened at $130.64 on Friday. The company has a 50-day moving average price of $136.15 and a 200 day moving average price of $140.37. Neurocrine Biosciences, Inc. has a 12-month low of $84.23 and a 12-month high of $160.18. The stock has a market cap of $13.11 billion, a P/E ratio of 28.03, a PEG ratio of 0.68 and a beta of 0.31.

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

Neurocrine Biosciences Company 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.