Rafferty Asset Management LLC Sells 20,445 Shares of Neurocrine Biosciences, Inc. $NBIX

Rafferty Asset Management LLC lessened its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 25.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 58,701 shares of the company’s stock after selling 20,445 shares during the quarter. Rafferty Asset Management LLC owned approximately 0.06% of Neurocrine Biosciences worth $8,240,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Aster Capital Management DIFC Ltd bought a new position in shares of Neurocrine Biosciences during the 3rd quarter worth approximately $49,000. Handelsbanken Fonder AB lifted its holdings in Neurocrine Biosciences by 5.3% during the 3rd quarter. Handelsbanken Fonder AB now owns 109,467 shares of the company’s stock valued at $15,367,000 after purchasing an additional 5,500 shares during the last quarter. Generali Investments Management Co LLC lifted its holdings in Neurocrine Biosciences by 95.0% during the 3rd quarter. Generali Investments Management Co LLC now owns 4,958 shares of the company’s stock valued at $696,000 after purchasing an additional 2,415 shares during the last quarter. Xponance Inc. boosted its position in Neurocrine Biosciences by 1.6% during the third quarter. Xponance Inc. now owns 26,388 shares of the company’s stock worth $3,704,000 after purchasing an additional 413 shares during the period. Finally, DNB Asset Management AS increased its holdings in shares of Neurocrine Biosciences by 8.0% in the third quarter. DNB Asset Management AS now owns 124,108 shares of the company’s stock valued at $17,422,000 after purchasing an additional 9,168 shares during the last quarter. 92.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on NBIX shares. JPMorgan Chase & Co. cut their target price on shares of Neurocrine Biosciences from $177.00 to $176.00 and set an “overweight” rating for the company in a research note on Tuesday, February 17th. Zacks Research cut shares of Neurocrine Biosciences from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 17th. Needham & Company LLC cut their price objective on shares of Neurocrine Biosciences from $187.00 to $185.00 and set a “buy” rating for the company in a research report on Thursday, February 12th. TD Cowen boosted their price objective on Neurocrine Biosciences from $175.00 to $200.00 and gave the stock a “buy” rating in a report on Friday, December 5th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $175.00 target price (up from $173.00) on shares of Neurocrine Biosciences in a research report on Thursday, January 8th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Neurocrine Biosciences presently has an average rating of “Moderate Buy” and an average price target of $175.05.

Neurocrine Biosciences Stock Up 1.2%

Shares of NASDAQ:NBIX opened at $132.25 on Monday. Neurocrine Biosciences, Inc. has a 12-month low of $84.23 and a 12-month high of $160.18. The company’s 50 day moving average price is $135.90 and its two-hundred day moving average price is $140.57. The firm has a market cap of $13.27 billion, a PE ratio of 28.38, a PEG ratio of 0.69 and a beta of 0.32.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings results on Wednesday, February 11th. The company reported $1.88 earnings per share for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.48). The business had revenue of $805.50 million during the quarter, compared to analyst estimates of $804.21 million. Neurocrine Biosciences had a net margin of 16.73% and a return on equity of 16.48%. The firm’s quarterly revenue was up 28.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.69 earnings per share. On average, research analysts expect that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

Insider Activity

In other news, insider Darin Lippoldt sold 4,376 shares of the company’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $159.65, for a total transaction of $698,628.40. Following the completion of the sale, the insider directly owned 43,405 shares in the company, valued at approximately $6,929,608.25. This represents a 9.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Leslie V. Norwalk sold 1,190 shares of the firm’s stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $155.09, for a total value of $184,557.10. Following the completion of the transaction, the director owned 6,239 shares in the company, valued at $967,606.51. The trade was a 16.02% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 46,966 shares of company stock worth $6,474,616. 4.30% of the stock is currently owned by company insiders.

Neurocrine Biosciences 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.