Winnow Wealth LLC Makes New Investment in Neurocrine Biosciences, Inc. $NBIX

Winnow Wealth LLC purchased a new position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) in the 3rd quarter, Holdings Channel reports. The firm purchased 6,810 shares of the company’s stock, valued at approximately $960,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NBIX. Dodge & Cox grew its position in Neurocrine Biosciences by 0.6% in the second quarter. Dodge & Cox now owns 5,566,814 shares of the company’s stock valued at $699,693,000 after purchasing an additional 32,190 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Neurocrine Biosciences by 59.6% during the second quarter. JPMorgan Chase & Co. now owns 4,261,747 shares of the company’s stock worth $535,659,000 after acquiring an additional 1,590,749 shares in the last quarter. AQR Capital Management LLC boosted its position in Neurocrine Biosciences by 40.5% during the second quarter. AQR Capital Management LLC now owns 1,510,015 shares of the company’s stock valued at $189,794,000 after purchasing an additional 435,385 shares during the last quarter. Norges Bank bought a new position in Neurocrine Biosciences in the second quarter valued at approximately $122,278,000. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Neurocrine Biosciences by 1.8% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 789,715 shares of the company’s stock worth $99,259,000 after purchasing an additional 13,942 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Kyle Gano sold 36,400 shares of Neurocrine Biosciences stock in a transaction that occurred 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 directly owned 140,407 shares of the company’s stock, valued at approximately $18,632,008.90. This trade represents a 20.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director George J. Morrow sold 15,000 shares of the business’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $143.37, for a total value of $2,150,550.00. Following the completion of the sale, the director owned 7,068 shares of the company’s stock, valued at $1,013,339.16. This trade represents a 67.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 80,266 shares of company stock valued at $11,400,517 in the last ninety days. 4.80% of the stock is currently owned by company insiders.

Neurocrine Biosciences Stock Performance

NASDAQ NBIX opened at $136.06 on Friday. The stock has a market cap of $13.57 billion, a PE ratio of 32.55, a P/E/G ratio of 0.73 and a beta of 0.28. The firm has a 50-day moving average of $143.13 and a 200-day moving average of $140.19. Neurocrine Biosciences, Inc. has a 52-week low of $84.23 and a 52-week high of $160.18.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings results on Tuesday, October 28th. The company reported $2.17 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.59. The firm had revenue of $794.90 million for the quarter, compared to analysts’ expectations of $746.61 million. Neurocrine Biosciences had a net margin of 15.95% and a return on equity of 15.82%. The business’s revenue was up 27.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.81 EPS. As a group, analysts predict that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Citigroup increased their price objective on Neurocrine Biosciences from $175.00 to $203.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Piper Sandler increased their price target on shares of Neurocrine Biosciences from $175.00 to $179.00 and gave the company an “overweight” rating in a research note on Wednesday, October 29th. Truist Financial lowered their price objective on shares of Neurocrine Biosciences from $172.00 to $169.00 and set a “buy” rating on the stock in a research note on Thursday, January 8th. HC Wainwright raised their target price on shares of Neurocrine Biosciences from $168.00 to $198.00 and gave the company a “buy” rating in a research note on Wednesday, December 17th. Finally, Stifel Nicolaus lifted their price target on Neurocrine Biosciences from $183.00 to $188.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. Seventeen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $174.25.

About Neurocrine Biosciences

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.