2Xideas AG Sells 4,696 Shares of Neurocrine Biosciences, Inc. $NBIX

2Xideas AG decreased its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 6.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 67,813 shares of the company’s stock after selling 4,696 shares during the quarter. Neurocrine Biosciences accounts for about 1.5% of 2Xideas AG’s portfolio, making the stock its 18th largest holding. 2Xideas AG owned approximately 0.07% of Neurocrine Biosciences worth $8,523,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Dodge & Cox raised its position in shares of Neurocrine Biosciences by 0.6% in the second quarter. Dodge & Cox now owns 5,566,814 shares of the company’s stock valued at $699,693,000 after buying an additional 32,190 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Neurocrine Biosciences by 59.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 4,261,747 shares of the company’s stock worth $535,659,000 after acquiring an additional 1,590,749 shares during the period. Wellington Management Group LLP increased its stake in Neurocrine Biosciences by 44.0% during the 1st quarter. Wellington Management Group LLP now owns 2,097,981 shares of the company’s stock worth $232,037,000 after acquiring an additional 640,556 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Neurocrine Biosciences by 3.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,539,601 shares of the company’s stock valued at $170,281,000 after acquiring an additional 49,088 shares in the last quarter. Finally, Braidwell LP lifted its position in shares of Neurocrine Biosciences by 32.2% during the 1st quarter. Braidwell LP now owns 1,191,925 shares of the company’s stock valued at $131,827,000 after acquiring an additional 290,135 shares during the period. Institutional investors and hedge funds own 92.59% of the company’s stock.

Insiders Place Their Bets

In other Neurocrine Biosciences news, Director William H. Rastetter sold 18,000 shares of the stock in a transaction dated 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 completion of the transaction, the director directly owned 40,360 shares in the company, valued at approximately $6,127,455.20. This trade represents a 30.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Kyle Gano sold 300 shares of Neurocrine Biosciences stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $141.97, for a total value of $42,591.00. Following the sale, the chief executive officer directly owned 140,407 shares in the company, valued at $19,933,581.79. The trade was a 0.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 33,300 shares of company stock valued at $4,925,901 in the last 90 days. Corporate insiders own 4.30% of the company’s stock.

Neurocrine Biosciences Price Performance

Shares of Neurocrine Biosciences stock opened at $154.99 on Tuesday. The company’s 50 day moving average price is $144.01 and its two-hundred day moving average price is $136.41. The firm has a market capitalization of $15.45 billion, a P/E ratio of 37.08, a P/E/G ratio of 1.02 and a beta of 0.27. Neurocrine Biosciences, Inc. has a fifty-two week low of $84.23 and a fifty-two week high of $160.18.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings results on Tuesday, October 28th. The company reported $2.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.59. Neurocrine Biosciences had a net margin of 15.95% and a return on equity of 15.82%. The company had revenue of $794.90 million during the quarter, compared to the consensus estimate of $746.61 million. During the same period in the prior year, the business earned $1.81 earnings per share. The company’s revenue for the quarter was up 27.8% compared to the same quarter last year. On average, analysts expect that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Piper Sandler increased their target price on Neurocrine Biosciences from $175.00 to $179.00 and gave the stock an “overweight” rating in a report on Wednesday, October 29th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Neurocrine Biosciences in a research report on Wednesday, October 8th. Citigroup raised their target price on shares of Neurocrine Biosciences from $175.00 to $203.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Morgan Stanley dropped their target price on shares of Neurocrine Biosciences from $178.00 to $173.00 and set an “overweight” rating for the company in a research report on Tuesday, November 11th. Finally, Royal Bank Of Canada increased their price target on shares of Neurocrine Biosciences from $160.00 to $180.00 and gave the stock an “outperform” rating in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $173.00.

About Neurocrine Biosciences

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.