Aberdeen Group plc Reduces Stock Holdings in Neurocrine Biosciences, Inc. $NBIX

Aberdeen Group plc lowered its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 23.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 90,045 shares of the company’s stock after selling 28,241 shares during the quarter. Aberdeen Group plc owned about 0.09% of Neurocrine Biosciences worth $12,641,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Golden State Wealth Management LLC increased its holdings in shares of Neurocrine Biosciences by 120.5% in the third quarter. Golden State Wealth Management LLC now owns 183 shares of the company’s stock valued at $26,000 after purchasing an additional 100 shares during the period. Eastern Bank purchased a new stake in Neurocrine Biosciences in the third quarter valued at approximately $27,000. Geneos Wealth Management Inc. increased its holdings in Neurocrine Biosciences by 143.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock worth $25,000 after buying an additional 135 shares during the period. Quent Capital LLC acquired a new position in Neurocrine Biosciences in the 3rd quarter worth approximately $32,000. Finally, MAI Capital Management raised its position in Neurocrine Biosciences by 101.2% during the 2nd quarter. MAI Capital Management now owns 328 shares of the company’s stock worth $41,000 after buying an additional 165 shares during the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Insider Transactions at Neurocrine Biosciences

In related news, CEO Kyle Gano sold 36,400 shares of the firm’s stock in a transaction that occurred on Friday, January 16th. The shares were sold at an average price of $132.70, for a total value of $4,830,280.00. Following the sale, the chief executive officer owned 140,407 shares of the company’s stock, valued at $18,632,008.90. This trade represents a 20.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Darin Lippoldt sold 4,376 shares of the company’s stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $159.65, for a total value of $698,628.40. Following the transaction, the insider directly owned 43,405 shares of the company’s stock, valued at approximately $6,929,608.25. This represents a 9.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 61,966 shares of company stock valued at $8,625,166. Corporate insiders own 4.80% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on NBIX. Wedbush boosted their target price on shares of Neurocrine Biosciences from $149.00 to $151.00 and gave the company an “outperform” rating in a research report on Thursday, February 12th. Needham & Company LLC decreased their price objective on Neurocrine Biosciences from $187.00 to $185.00 and set a “buy” rating for the company in a report on Thursday, February 12th. Royal Bank Of Canada lowered their target price on Neurocrine Biosciences from $180.00 to $177.00 and set an “outperform” rating on the stock in a research note on Thursday, February 12th. Truist Financial dropped their target price on Neurocrine Biosciences from $169.00 to $140.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, Wells Fargo & Company decreased their price target on Neurocrine Biosciences from $180.00 to $175.00 and set an “overweight” rating for the company in a report on Friday, February 13th. Sixteen investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $175.84.

Neurocrine Biosciences Stock Performance

NASDAQ NBIX opened at $130.10 on Friday. The stock’s fifty day moving average is $137.94 and its two-hundred day moving average is $140.27. The firm has a market capitalization of $13.06 billion, a P/E ratio of 27.92, a price-to-earnings-growth ratio of 0.67 and a beta of 0.31. 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 posted its earnings results on Wednesday, February 11th. The company reported $1.88 earnings per share for the quarter, missing the consensus estimate of $2.36 by ($0.48). The firm had revenue of $805.50 million during 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 business’s revenue for the quarter was up 28.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.69 earnings per share. As a group, sell-side analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

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.