Assenagon Asset Management S.A. Sells 13,280 Shares of Neurocrine Biosciences, Inc. $NBIX

Assenagon Asset Management S.A. cut its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 22.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,947 shares of the company’s stock after selling 13,280 shares during the period. Assenagon Asset Management S.A.’s holdings in Neurocrine Biosciences were worth $6,590,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of NBIX. Diametric Capital LP raised its stake in Neurocrine Biosciences by 2.6% in the second quarter. Diametric Capital LP now owns 3,244 shares of the company’s stock valued at $408,000 after purchasing an additional 81 shares in the last quarter. IFP Advisors Inc increased its holdings in Neurocrine Biosciences by 4.2% in the 2nd quarter. IFP Advisors Inc now owns 2,172 shares of the company’s stock valued at $273,000 after buying an additional 88 shares during the period. Linden Thomas Advisory Services LLC raised its position in shares of Neurocrine Biosciences by 1.5% in the 2nd quarter. Linden Thomas Advisory Services LLC now owns 6,699 shares of the company’s stock valued at $842,000 after buying an additional 96 shares in the last quarter. Central Pacific Bank Trust Division raised its position in shares of Neurocrine Biosciences by 6.2% in the 2nd quarter. Central Pacific Bank Trust Division now owns 1,725 shares of the company’s stock valued at $217,000 after buying an additional 100 shares in the last quarter. Finally, AdvisorShares Investments LLC lifted its holdings in shares of Neurocrine Biosciences by 2.8% during the 2nd quarter. AdvisorShares Investments LLC now owns 3,666 shares of the company’s stock worth $461,000 after acquiring an additional 100 shares during the period. 92.59% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Zacks Research raised shares of Neurocrine Biosciences from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 15th. Needham & Company LLC raised their target price on Neurocrine Biosciences from $170.00 to $184.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Citigroup lifted their price target on Neurocrine Biosciences from $175.00 to $203.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Canaccord Genuity Group upped their price objective on Neurocrine Biosciences from $160.00 to $164.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Finally, Morgan Stanley reduced their price objective on Neurocrine Biosciences from $178.00 to $173.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 11th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $174.76.

Neurocrine Biosciences Stock Up 2.2%

NASDAQ NBIX opened at $145.00 on Monday. The company has a market cap of $14.46 billion, a price-to-earnings ratio of 34.69, a price-to-earnings-growth ratio of 0.95 and a beta of 0.27. Neurocrine Biosciences, Inc. has a twelve month low of $84.23 and a twelve month high of $160.18. The business’s fifty day moving average is $146.17 and its 200 day moving average is $138.12.

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

Insiders Place Their Bets

In other Neurocrine Biosciences news, insider Darin Lippoldt sold 4,376 shares of the company’s stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $159.65, for a total value of $698,628.40. Following the completion of the transaction, the insider directly owned 43,405 shares in the company, valued at approximately $6,929,608.25. This represents a 9.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Leslie V. Norwalk sold 5,000 shares of Neurocrine Biosciences stock in a transaction on Monday, December 15th. The stock was sold at an average price of $152.23, for a total transaction of $761,150.00. Following the transaction, the director owned 7,429 shares in the company, valued at approximately $1,130,916.67. This trade represents a 40.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 43,866 shares of company stock worth $6,570,237 over the last quarter. 4.30% of the stock is currently owned by corporate insiders.

About Neurocrine Biosciences

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.