Neurocrine Biosciences, Inc. $NBIX Shares Sold by Brown Advisory Inc.

Brown Advisory Inc. cut its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 33.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 599,219 shares of the company’s stock after selling 296,323 shares during the period. Brown Advisory Inc. owned 0.60% of Neurocrine Biosciences worth $75,316,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Dodge & Cox increased its position in shares of Neurocrine Biosciences by 83.5% in the 1st quarter. Dodge & Cox now owns 5,534,624 shares of the company’s stock worth $612,129,000 after purchasing an additional 2,518,199 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Neurocrine Biosciences by 59.6% in the second quarter. JPMorgan Chase & Co. now owns 4,261,747 shares of the company’s stock worth $535,659,000 after purchasing an additional 1,590,749 shares in the last quarter. Norges Bank bought a new stake in Neurocrine Biosciences in the second quarter valued at about $122,278,000. Los Angeles Capital Management LLC increased its holdings in Neurocrine Biosciences by 19,454.9% in the second quarter. Los Angeles Capital Management LLC now owns 744,650 shares of the company’s stock valued at $93,595,000 after buying an additional 740,842 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in Neurocrine Biosciences by 44.0% during the first quarter. Wellington Management Group LLP now owns 2,097,981 shares of the company’s stock valued at $232,037,000 after buying an additional 640,556 shares in the last quarter. 92.59% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

NBIX has been the subject of several research reports. Piper Sandler lifted their target price on Neurocrine Biosciences from $175.00 to $179.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. Canaccord Genuity Group raised their price objective on Neurocrine Biosciences from $160.00 to $164.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. TD Cowen lifted 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. UBS Group boosted their target price on shares of Neurocrine Biosciences from $188.00 to $195.00 and gave the company a “buy” rating in a research note on Thursday, October 9th. Finally, Citigroup raised their price target on shares of Neurocrine Biosciences from $175.00 to $203.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $172.00.

Neurocrine Biosciences Price Performance

Shares of NBIX opened at $155.51 on Friday. Neurocrine Biosciences, Inc. has a 12 month low of $84.23 and a 12 month high of $157.67. The stock has a fifty day moving average price of $143.72 and a 200 day moving average price of $135.95. The company has a market cap of $15.51 billion, a P/E ratio of 37.20, a PEG ratio of 1.01 and a beta of 0.27.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its earnings results on Tuesday, October 28th. The company reported $2.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.59. The company had revenue of $794.90 million for the quarter, compared to analysts’ expectations of $746.61 million. Neurocrine Biosciences had a return on equity of 15.82% and a net margin of 15.95%.The firm’s quarterly revenue was up 27.8% compared to the same quarter last year. During the same period last year, the business posted $1.81 earnings per share. As a group, research analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.

Insider Activity

In related news, Director William H. Rastetter sold 18,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $151.82, for a total value of $2,732,760.00. Following the sale, the director directly owned 40,360 shares in the company, valued at $6,127,455.20. This trade represents a 30.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Kyle Gano sold 300 shares of the business’s stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $141.97, for a total value of $42,591.00. Following the transaction, the chief executive officer owned 140,407 shares of the company’s stock, valued at $19,933,581.79. This trade represents a 0.21% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 33,300 shares of company stock valued at $4,925,901. Insiders own 4.80% of the company’s stock.

Neurocrine Biosciences 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.