GW&K Investment Management LLC Sells 17,980 Shares of Neurocrine Biosciences, Inc. $NBIX

GW&K Investment Management LLC lowered its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 2.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 594,385 shares of the company’s stock after selling 17,980 shares during the quarter. Neurocrine Biosciences makes up approximately 0.7% of GW&K Investment Management LLC’s holdings, making the stock its 26th biggest holding. GW&K Investment Management LLC owned approximately 0.60% of Neurocrine Biosciences worth $83,440,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC grew its stake in Neurocrine Biosciences by 120.5% during the third quarter. Golden State Wealth Management LLC now owns 183 shares of the company’s stock worth $26,000 after buying an additional 100 shares during the last quarter. Eastern Bank acquired a new position in shares of Neurocrine Biosciences in the 3rd quarter worth approximately $27,000. Geneos Wealth Management Inc. boosted its holdings in shares of 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 acquiring an additional 135 shares in the last quarter. Quent Capital LLC bought a new stake in Neurocrine Biosciences during the 3rd quarter worth approximately $32,000. Finally, MAI Capital Management increased its holdings in Neurocrine Biosciences by 101.2% during 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 in the last quarter. 92.59% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

NBIX has been the topic of a number of recent analyst reports. HC Wainwright reduced their price objective on Neurocrine Biosciences from $198.00 to $192.00 and set a “buy” rating on the stock in a research note on Thursday, February 12th. JPMorgan Chase & Co. cut their price target on Neurocrine Biosciences from $177.00 to $176.00 and set an “overweight” rating for the company in a report on Tuesday, February 17th. TD Cowen increased their price objective on shares of Neurocrine Biosciences from $175.00 to $200.00 and gave the stock a “buy” rating in a report on Friday, December 5th. Needham & Company LLC lowered 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. Finally, Truist Financial reduced their target price on shares of Neurocrine Biosciences from $169.00 to $140.00 and set a “buy” rating on the stock in a research report on Tuesday, February 17th. 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 given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $175.05.

Neurocrine Biosciences Trading Up 1.8%

Neurocrine Biosciences stock opened at $133.44 on Thursday. The company has a market cap of $13.39 billion, a PE ratio of 28.64, a PEG ratio of 0.68 and a beta of 0.32. Neurocrine Biosciences, Inc. has a 1 year low of $84.23 and a 1 year high of $160.18. The company’s 50-day moving average is $135.00 and its two-hundred day moving average is $140.52.

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 analysts’ consensus estimates of $2.36 by ($0.48). Neurocrine Biosciences had a return on equity of 16.48% and a net margin of 16.73%.The business had revenue of $805.50 million for the quarter, compared to the consensus estimate of $804.21 million. During the same period last year, the firm earned $1.69 earnings per share. The company’s quarterly revenue was up 28.3% on a year-over-year basis. Research analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

Insider Buying and Selling at Neurocrine Biosciences

In other Neurocrine Biosciences news, CEO Kyle Gano sold 36,400 shares of the stock in a transaction dated Friday, January 16th. The stock was sold at an average price of $132.70, for a total value of $4,830,280.00. Following the transaction, the chief executive officer owned 140,407 shares of the company’s stock, valued at approximately $18,632,008.90. This represents a 20.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Darin Lippoldt sold 4,376 shares of the firm’s stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $159.65, for a total value of $698,628.40. Following the transaction, the insider owned 43,405 shares in the company, valued at approximately $6,929,608.25. This trade represents a 9.16% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 46,966 shares of company stock worth $6,474,616. Insiders own 4.80% of the company’s stock.

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.