Citigroup Inc. Lowers Stock Holdings in Neurocrine Biosciences, Inc. $NBIX

Citigroup Inc. reduced its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 26.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 237,082 shares of the company’s stock after selling 84,982 shares during the quarter. Citigroup Inc. owned about 0.24% of Neurocrine Biosciences worth $33,282,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of NBIX. Dodge & Cox grew its position in shares of Neurocrine Biosciences by 0.6% during the 2nd quarter. Dodge & Cox now owns 5,566,814 shares of the company’s stock valued at $699,693,000 after purchasing an additional 32,190 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Neurocrine Biosciences by 11.0% during the third quarter. JPMorgan Chase & Co. now owns 4,730,152 shares of the company’s stock valued at $664,019,000 after buying an additional 468,405 shares during the period. AQR Capital Management LLC grew its position in Neurocrine Biosciences by 40.5% during the second quarter. AQR Capital Management LLC now owns 1,510,015 shares of the company’s stock worth $189,794,000 after buying an additional 435,385 shares in the last quarter. Norges Bank bought a new position in Neurocrine Biosciences in the 2nd quarter worth about $122,278,000. Finally, Charles Schwab Investment Management Inc. increased its stake in Neurocrine Biosciences by 1.8% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 789,715 shares of the company’s stock worth $99,259,000 after acquiring an additional 13,942 shares during the last quarter. Institutional investors own 92.59% of the company’s stock.

Insider Buying and Selling

In related news, Director Leslie V. Norwalk sold 5,000 shares of Neurocrine Biosciences stock in a transaction on Monday, December 15th. The shares were sold at an average price of $152.23, for a total value of $761,150.00. Following the transaction, the director directly owned 7,429 shares of the company’s stock, valued at $1,130,916.67. The trade was a 40.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Darin Lippoldt sold 4,376 shares of the stock in a transaction on Monday, December 8th. The shares were sold at an average price of $159.65, for a total transaction of $698,628.40. Following the sale, the insider directly owned 43,405 shares of the company’s stock, valued at $6,929,608.25. The trade was a 9.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 46,966 shares of company stock worth $6,474,616 in the last ninety days. 4.30% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on NBIX shares. Wolfe Research began coverage on Neurocrine Biosciences in a research report on Tuesday. They set an “outperform” rating and a $160.00 price target for the company. Wells Fargo & Company dropped their target price on shares of Neurocrine Biosciences from $180.00 to $175.00 and set an “overweight” rating for the company in a research report on Friday, February 13th. Stifel Nicolaus raised their price objective on shares of Neurocrine Biosciences from $183.00 to $188.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. UBS Group cut their target price on shares of Neurocrine Biosciences from $188.00 to $178.00 and set a “buy” rating for the company in a research report on Friday, January 23rd. Finally, Wedbush raised their price target on Neurocrine Biosciences from $149.00 to $151.00 and gave the company an “outperform” rating in a research report on Thursday, February 12th. Seventeen research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $175.05.

Neurocrine Biosciences Stock Up 2.0%

Shares of NASDAQ:NBIX opened at $130.96 on Wednesday. The stock has a market cap of $13.14 billion, a PE ratio of 28.10, a PEG ratio of 0.67 and a beta of 0.31. The company’s fifty day moving average is $136.59 and its 200 day moving average is $140.51. Neurocrine Biosciences, Inc. has a 52 week low of $84.23 and a 52 week high of $160.18.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings data on Wednesday, February 11th. The company reported $1.88 earnings per share (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 the consensus estimate of $804.21 million. Neurocrine Biosciences had a net margin of 16.73% and a return on equity of 16.48%. During the same period last year, the business posted $1.69 earnings per share. The firm’s quarterly revenue was up 28.3% compared to the same quarter last year. Sell-side analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

Neurocrine Biosciences 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.