Verition Fund Management LLC Has $302,000 Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Verition Fund Management LLC lessened its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX – Get Rating) by 25.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,844 shares of the company’s stock after selling 946 shares during the period. Verition Fund Management LLC’s holdings in Neurocrine Biosciences were worth $302,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Los Angeles Capital Management LLC bought a new position in Neurocrine Biosciences during the third quarter worth about $84,115,000. Allspring Global Investments Holdings LLC increased its holdings in shares of Neurocrine Biosciences by 379.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 539,039 shares of the company’s stock worth $57,251,000 after buying an additional 426,675 shares in the last quarter. Wellington Management Group LLP acquired a new stake in shares of Neurocrine Biosciences in the first quarter valued at approximately $36,508,000. Deerfield Management Company L.P. Series C increased its holdings in shares of Neurocrine Biosciences by 21.4% in the second quarter. Deerfield Management Company L.P. Series C now owns 2,012,714 shares of the company’s stock valued at $196,199,000 after purchasing an additional 354,914 shares in the last quarter. Finally, Pictet Asset Management SA increased its holdings in shares of Neurocrine Biosciences by 38.2% in the second quarter. Pictet Asset Management SA now owns 1,071,797 shares of the company’s stock valued at $104,479,000 after purchasing an additional 296,422 shares in the last quarter. Institutional investors own 92.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on NBIX. Piper Sandler lowered their price target on shares of Neurocrine Biosciences from $103.00 to $95.00 and set a “neutral” rating for the company in a report on Tuesday, February 7th. Wells Fargo & Company lowered their price target on shares of Neurocrine Biosciences from $120.00 to $115.00 and set an “equal weight” rating for the company in a report on Tuesday, February 7th. Wedbush lifted their target price on shares of Neurocrine Biosciences from $125.00 to $131.00 and gave the stock an “outperform” rating in a report on Tuesday, February 7th. Royal Bank of Canada lowered their target price on shares of Neurocrine Biosciences from $122.00 to $110.00 and set a “sector perform” rating for the company in a report on Tuesday, February 7th. Finally, Citigroup lowered their target price on shares of Neurocrine Biosciences from $133.00 to $131.00 and set a “buy” rating for the company in a report on Tuesday, February 7th. Five investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $125.65.

Neurocrine Biosciences Trading Down 0.5 %

Neurocrine Biosciences stock opened at $97.86 on Thursday. Neurocrine Biosciences, Inc. has a 1-year low of $75.25 and a 1-year high of $129.29. The firm has a market capitalization of $9.45 billion, a price-to-earnings ratio of 63.96 and a beta of 0.50. The firm’s fifty day moving average price is $107.71 and its two-hundred day moving average price is $111.23.

Neurocrine Biosciences (NASDAQ:NBIX – Get Rating) last released its quarterly earnings data on Monday, February 6th. The company reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $1.15 by $0.09. Neurocrine Biosciences had a net margin of 10.38% and a return on equity of 10.19%. The firm had revenue of $412.00 million for the quarter, compared to analyst estimates of $408.96 million. During the same period last year, the firm earned ($0.08) earnings per share. The business’s quarterly revenue was up 32.1% compared to the same quarter last year. On average, research analysts forecast that Neurocrine Biosciences, Inc. will post 2.77 EPS for the current year.

Insider Activity at Neurocrine Biosciences

In related news, major shareholder Neurocrine Biosciences Inc acquired 4,395,588 shares of the stock in a transaction on Thursday, February 23rd. The shares were acquired at an average price of $8.88 per share, with a total value of $39,032,821.44. Following the completion of the transaction, the insider now owns 8,575,316 shares in the company, valued at approximately $76,148,806.08. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, major shareholder Neurocrine Biosciences Inc acquired 4,395,588 shares of the stock in a transaction on Thursday, February 23rd. The shares were acquired at an average price of $8.88 per share, with a total value of $39,032,821.44. Following the completion of the transaction, the insider now owns 8,575,316 shares in the company, valued at approximately $76,148,806.08. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Stephen A. Sherwin sold 30,000 shares of Neurocrine Biosciences stock in a transaction dated Tuesday, January 3rd. The stock was sold at an average price of $118.86, for a total transaction of $3,565,800.00. Following the completion of the sale, the director now directly owns 25,055 shares in the company, valued at approximately $2,978,037.30. The disclosure for this sale can be found here. Insiders have sold 69,749 shares of company stock valued at $7,706,823 over the last ninety days. Corporate insiders own 4.40% of the company’s stock.

Neurocrine Biosciences Profile

(Get Rating)

Neurocrine Biosciences, Inc is a neuroscience-focused, biopharmaceutical company. It discovers, develops, and intends to commercialize drugs for the treatment of neurological and endocrine related diseases and disorders. The company was founded by Kevin C. Gorman and Wylie W. Vale in January 1992 and is headquartered in San Diego, CA.