Neurocrine Biosciences, Inc. $NBIX is Braidwell LP’s 8th Largest Position

Braidwell LP cut its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 24.1% in the 3rd quarter, HoldingsChannel reports. The fund owned 880,282 shares of the company’s stock after selling 280,143 shares during the period. Neurocrine Biosciences makes up 3.7% of Braidwell LP’s investment portfolio, making the stock its 8th largest position. Braidwell LP’s holdings in Neurocrine Biosciences were worth $123,574,000 as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in NBIX. Golden State Wealth Management LLC boosted its holdings in shares of 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 purchasing an additional 100 shares during the last quarter. Eastern Bank acquired a new position in Neurocrine Biosciences in the third quarter valued at $27,000. Geneos Wealth Management Inc. lifted its position in Neurocrine Biosciences by 143.6% during the first 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 period. Quent Capital LLC acquired a new stake in Neurocrine Biosciences in the 3rd quarter worth about $32,000. Finally, MAI Capital Management grew its holdings 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 buying an additional 165 shares during the period. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Insider Transactions at Neurocrine Biosciences

In other Neurocrine Biosciences news, CEO Kyle Gano sold 36,400 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer owned 140,407 shares in the company, valued at $18,632,008.90. The trade was a 20.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Leslie V. Norwalk sold 5,000 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $1,130,916.67. This trade represents a 40.23% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 42,590 shares of company stock worth $5,775,987. 4.80% of the stock is currently owned by insiders.

Neurocrine Biosciences Stock Up 1.6%

Neurocrine Biosciences stock opened at $129.78 on Friday. The firm has a fifty day moving average of $133.08 and a 200-day moving average of $140.27. Neurocrine Biosciences, Inc. has a 52-week low of $84.23 and a 52-week high of $160.18. The firm has a market capitalization of $13.02 billion, a P/E ratio of 27.85, a PEG ratio of 0.68 and a beta of 0.32.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its 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). Neurocrine Biosciences had a net margin of 16.73% and a return on equity of 16.48%. The business had revenue of $805.50 million for the quarter, compared to analyst estimates of $804.21 million. During the same quarter in the previous year, the firm posted $1.69 EPS. The business’s revenue was up 28.3% compared to the same quarter last year. On average, research analysts expect that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

NBIX has been the topic of several recent analyst reports. Needham & Company LLC cut their price objective on shares of Neurocrine Biosciences from $187.00 to $185.00 and set a “buy” rating on the stock in a report on Thursday, February 12th. UBS Group cut their price target on shares of Neurocrine Biosciences from $188.00 to $178.00 and set a “buy” rating on the stock in a research note on Friday, January 23rd. BMO Capital Markets lowered their price objective on shares of Neurocrine Biosciences from $147.00 to $140.00 and set a “market perform” rating for the company in a research note on Thursday, February 12th. Wells Fargo & Company cut their target price on Neurocrine Biosciences from $180.00 to $175.00 and set an “overweight” rating on the stock in a research report on Friday, February 13th. Finally, Stifel Nicolaus boosted their price target on Neurocrine Biosciences from $183.00 to $188.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Neurocrine Biosciences has an average rating of “Moderate Buy” and a consensus price target of $175.10.

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.