2Xideas AG Trims Stock Position in Neurocrine Biosciences, Inc. $NBIX

2Xideas AG trimmed its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 25.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,797 shares of the company’s stock after selling 17,016 shares during the period. Neurocrine Biosciences makes up 1.5% of 2Xideas AG’s investment portfolio, making the stock its 18th largest holding. 2Xideas AG owned about 0.05% of Neurocrine Biosciences worth $7,131,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Royal Bank of Canada boosted its stake in Neurocrine Biosciences by 36.7% during the 1st quarter. Royal Bank of Canada now owns 82,810 shares of the company’s stock worth $9,158,000 after purchasing an additional 22,224 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Neurocrine Biosciences by 60.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,783 shares of the company’s stock worth $1,647,000 after acquiring an additional 5,577 shares during the period. NewEdge Advisors LLC grew its stake in shares of Neurocrine Biosciences by 56.3% in the 1st quarter. NewEdge Advisors LLC now owns 7,630 shares of the company’s stock valued at $844,000 after purchasing an additional 2,747 shares during the last quarter. Empowered Funds LLC acquired a new position in shares of Neurocrine Biosciences in the first quarter valued at approximately $1,333,000. Finally, Geneos Wealth Management Inc. increased its holdings in shares of Neurocrine Biosciences by 143.6% in the first quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock valued at $25,000 after purchasing an additional 135 shares during the period. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on NBIX. Weiss Ratings reiterated a “hold (c+)” rating on shares of Neurocrine Biosciences in a research report on Thursday, January 22nd. Citigroup upped their price objective on shares of Neurocrine Biosciences from $203.00 to $204.00 and gave the stock a “buy” rating in a research report on Thursday, February 12th. UBS Group lowered their target price on shares of Neurocrine Biosciences from $188.00 to $178.00 and set a “buy” rating on the stock in a report on Friday, January 23rd. Truist Financial dropped their price target on shares of Neurocrine Biosciences from $169.00 to $140.00 and set a “buy” rating on the stock in a research note on Tuesday, February 17th. Finally, Needham & Company LLC cut their price target on shares of Neurocrine Biosciences from $187.00 to $185.00 and set a “buy” rating for the company in a report on Thursday, February 12th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Neurocrine Biosciences has an average rating of “Moderate Buy” and an average target price of $175.10.

Neurocrine Biosciences Trading Up 1.6%

NASDAQ NBIX opened at $129.78 on Friday. The business’s 50-day moving average price is $133.08 and its 200 day moving average price is $140.24. Neurocrine Biosciences, Inc. has a twelve month low of $84.23 and a twelve month high of $160.18. The company has a market capitalization of $13.02 billion, a PE ratio of 27.85, a price-to-earnings-growth ratio of 0.67 and a beta of 0.32.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings data on Wednesday, February 11th. The company reported $1.88 EPS for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.48). The company had revenue of $805.50 million for the quarter, compared to analyst estimates of $804.21 million. Neurocrine Biosciences had a net margin of 16.73% and a return on equity of 16.48%. The company’s revenue was up 28.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.69 EPS. Equities analysts predict that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

Insider Transactions at Neurocrine Biosciences

In other Neurocrine Biosciences news, CEO Kyle Gano sold 36,400 shares of the company’s stock in a transaction dated Friday, January 16th. The stock was sold at an average price of $132.70, for a total transaction of $4,830,280.00. Following the completion of the sale, the chief executive officer directly owned 140,407 shares in the company, valued at $18,632,008.90. This represents a 20.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Leslie V. Norwalk sold 1,190 shares of the firm’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $155.09, for a total value of $184,557.10. Following the completion of the transaction, the director owned 6,239 shares in the company, valued at approximately $967,606.51. This trade represents a 16.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 42,590 shares of company stock valued at $5,775,987. 4.80% of the stock is owned by company insiders.

Neurocrine Biosciences Company Profile

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.