131,390 Shares in Neurocrine Biosciences, Inc. $NBIX Bought by Iron Triangle Partners LP

Iron Triangle Partners LP acquired a new position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) in the third quarter, HoldingsChannel.com reports. The fund acquired 131,390 shares of the company’s stock, valued at approximately $18,445,000. Neurocrine Biosciences makes up about 2.6% of Iron Triangle Partners LP’s holdings, making the stock its 18th largest position.

Several other hedge funds and other institutional investors have also made changes to their positions in NBIX. Dodge & Cox raised its holdings in Neurocrine Biosciences by 0.6% during the second quarter. Dodge & Cox now owns 5,566,814 shares of the company’s stock worth $699,693,000 after purchasing an additional 32,190 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Neurocrine Biosciences by 11.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,730,152 shares of the company’s stock worth $664,019,000 after buying an additional 468,405 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of Neurocrine Biosciences by 83.7% in the 3rd quarter. AQR Capital Management LLC now owns 2,773,648 shares of the company’s stock valued at $388,435,000 after buying an additional 1,263,633 shares during the period. Deerfield Management Company L.P. boosted its stake in shares of Neurocrine Biosciences by 1.4% in the third quarter. Deerfield Management Company L.P. now owns 1,184,345 shares of the company’s stock valued at $166,258,000 after buying an additional 16,543 shares in the last quarter. Finally, Norges Bank acquired a new position in Neurocrine Biosciences during the second quarter worth $122,278,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Analyst Upgrades and Downgrades

NBIX has been the topic of several research analyst reports. JPMorgan Chase & Co. boosted their target price on shares of Neurocrine Biosciences from $176.00 to $177.00 and gave the stock an “overweight” rating in a research report on Thursday. Zacks Research lowered shares of Neurocrine Biosciences from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 17th. Stifel Nicolaus lifted their price target on shares of Neurocrine Biosciences from $183.00 to $188.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. BMO Capital Markets decreased their price target on Neurocrine Biosciences from $147.00 to $140.00 and set a “market perform” rating on the stock in a research note on Thursday, February 12th. Finally, Wedbush upped their price target on Neurocrine Biosciences from $149.00 to $151.00 and gave the stock an “outperform” rating in a report on Thursday, February 12th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $175.10.

Insider Activity at Neurocrine Biosciences

In other news, Director Leslie V. Norwalk sold 1,190 shares of the business’s stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $155.09, for a total transaction of $184,557.10. Following the completion of the sale, the director directly owned 6,239 shares of the company’s stock, valued at $967,606.51. The trade was a 16.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Kyle Gano sold 36,400 shares of the company’s stock in a transaction on 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 sale, the chief executive officer owned 140,407 shares of the company’s stock, valued at approximately $18,632,008.90. The trade was a 20.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 4.30% of the company’s stock.

Neurocrine Biosciences Stock Performance

Shares of NBIX opened at $129.78 on Monday. Neurocrine Biosciences, Inc. has a 1 year low of $84.23 and a 1 year high of $160.18. The company’s 50 day simple moving average is $133.08 and its 200 day simple moving average is $140.28. The company has a market capitalization of $13.02 billion, a price-to-earnings ratio of 27.85, a PEG ratio of 0.68 and a beta of 0.32.

Neurocrine Biosciences (NASDAQ:NBIX) last released its earnings results on Wednesday, February 11th. The company reported $1.88 EPS 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 during the quarter, compared to analyst estimates of $804.21 million. During the same quarter in the previous year, the company posted $1.69 earnings per share. The business’s revenue for the quarter was up 28.3% compared to the same quarter last year. Equities analysts expect that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

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.