HB Wealth Management LLC Reduces Position in Neurocrine Biosciences, Inc. $NBIX

HB Wealth Management LLC lessened its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 5.4% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,204 shares of the company’s stock after selling 125 shares during the quarter. HB Wealth Management LLC’s holdings in Neurocrine Biosciences were worth $277,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in NBIX. Geneos Wealth Management Inc. lifted its position in Neurocrine Biosciences by 143.6% during 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 during the period. WPG Advisers LLC acquired a new stake in Neurocrine Biosciences during the 1st quarter worth approximately $32,000. Smallwood Wealth Investment Management LLC acquired a new stake in Neurocrine Biosciences during the 1st quarter worth approximately $34,000. SVB Wealth LLC acquired a new stake in Neurocrine Biosciences during the 1st quarter worth approximately $35,000. Finally, Golden State Wealth Management LLC lifted its position in Neurocrine Biosciences by 116.9% during the 1st quarter. Golden State Wealth Management LLC now owns 397 shares of the company’s stock worth $44,000 after acquiring an additional 214 shares during the period. 92.59% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NBIX has been the topic of a number of recent analyst reports. Piper Sandler upped their price objective on Neurocrine Biosciences from $154.00 to $175.00 and gave the stock an “overweight” rating in a report on Thursday, July 31st. Guggenheim upped their price objective on Neurocrine Biosciences from $165.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, August 1st. Wedbush reaffirmed an “outperform” rating on shares of Neurocrine Biosciences in a report on Monday, September 22nd. Stifel Nicolaus upped their price objective on Neurocrine Biosciences from $166.00 to $174.00 and gave the stock a “buy” rating in a report on Thursday, July 31st. Finally, Truist Financial assumed coverage on Neurocrine Biosciences in a report on Monday, July 21st. They set a “buy” rating and a $163.00 price objective on the stock. Seventeen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Neurocrine Biosciences has a consensus rating of “Moderate Buy” and an average price target of $161.89.

Neurocrine Biosciences Stock Up 1.8%

Shares of NASDAQ:NBIX opened at $139.43 on Tuesday. The company has a market cap of $13.83 billion, a P/E ratio of 41.25, a P/E/G ratio of 0.99 and a beta of 0.21. Neurocrine Biosciences, Inc. has a 52 week low of $84.23 and a 52 week high of $154.61. The business has a fifty day simple moving average of $137.10 and a 200-day simple moving average of $124.57.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.08. Neurocrine Biosciences had a return on equity of 13.22% and a net margin of 13.88%.The firm had revenue of $687.50 million during the quarter, compared to the consensus estimate of $653.09 million. During the same quarter in the previous year, the business earned $1.63 earnings per share. The firm’s quarterly revenue was up 16.5% compared to the same quarter last year. Sell-side analysts expect that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Kevin Charles Gorman sold 106,322 shares of the business’s stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $126.41, for a total transaction of $13,440,164.02. Following the completion of the transaction, the director owned 514,596 shares in the company, valued at $65,050,080.36. The trade was a 17.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jude Onyia sold 59,819 shares of the business’s stock in a transaction that occurred on Wednesday, July 9th. The shares were sold at an average price of $130.46, for a total value of $7,803,986.74. Following the transaction, the insider owned 18,289 shares of the company’s stock, valued at $2,385,982.94. This represents a 76.58% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 166,598 shares of company stock worth $21,305,846. 4.30% of the stock is currently owned by corporate insiders.

Neurocrine Biosciences Company Profile

Neurocrine Biosciences, Inc discovers, develops, and markets pharmaceuticals for neurological, neuroendocrine, and neuropsychiatric disorders in the United States and internationally. The company’s products include INGREZZA for tardive dyskinesia and chorea associated with Huntington’s disease; ALKINDI for adrenal insufficiency; Efmody capsules for classic congenital adrenal hyperplasia; Orilissa tablets for endometriosis; and Oriahnn capsules to treat uterine fibroids.