Tobam Cuts Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Tobam lessened its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 19.0% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 73,246 shares of the company’s stock after selling 17,219 shares during the quarter. Neurocrine Biosciences comprises about 1.6% of Tobam’s investment portfolio, making the stock its 21st biggest holding. Tobam’s holdings in Neurocrine Biosciences were worth $8,439,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Neurocrine Biosciences by 3.5% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 252,565 shares of the company’s stock valued at $34,834,000 after buying an additional 8,630 shares in the last quarter. Vanguard Group Inc. grew its holdings in Neurocrine Biosciences by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 9,710,328 shares of the company’s stock valued at $1,279,433,000 after buying an additional 150,485 shares in the last quarter. Perceptive Advisors LLC grew its holdings in Neurocrine Biosciences by 70.1% during the 4th quarter. Perceptive Advisors LLC now owns 270,794 shares of the company’s stock valued at $35,680,000 after buying an additional 111,552 shares in the last quarter. Van ECK Associates Corp grew its holdings in Neurocrine Biosciences by 1,325.5% during the 1st quarter. Van ECK Associates Corp now owns 92,243 shares of the company’s stock valued at $12,722,000 after buying an additional 85,772 shares in the last quarter. Finally, Twin Tree Management LP grew its holdings in Neurocrine Biosciences by 59.4% during the 1st quarter. Twin Tree Management LP now owns 19,147 shares of the company’s stock valued at $2,641,000 after buying an additional 7,136 shares in the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Insider Buying and Selling at Neurocrine Biosciences

In other news, insider Julie Cooke sold 900 shares of the business’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $150.04, for a total value of $135,036.00. Following the completion of the transaction, the insider now directly owns 18,202 shares of the company’s stock, valued at approximately $2,731,028.08. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Ingrid Delaet sold 273 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $147.70, for a total value of $40,322.10. Following the completion of the transaction, the insider now directly owns 6,607 shares of the company’s stock, valued at approximately $975,853.90. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Julie Cooke sold 900 shares of the business’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $150.04, for a total value of $135,036.00. Following the completion of the transaction, the insider now directly owns 18,202 shares of the company’s stock, valued at approximately $2,731,028.08. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 61,798 shares of company stock valued at $9,274,196 in the last ninety days. Corporate insiders own 4.30% of the company’s stock.

Wall Street Analyst Weigh In

NBIX has been the subject of a number of recent research reports. StockNews.com upgraded Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a report on Sunday, August 4th. HC Wainwright reiterated a “buy” rating and issued a $190.00 target price on shares of Neurocrine Biosciences in a report on Thursday, August 29th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $155.00 target price on shares of Neurocrine Biosciences in a report on Monday, September 16th. JPMorgan Chase & Co. lifted their target price on Neurocrine Biosciences from $173.00 to $181.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Finally, Piper Sandler upgraded Neurocrine Biosciences from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $131.00 to $159.00 in a report on Thursday, August 29th. Five investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $164.52.

Neurocrine Biosciences Stock Performance

NASDAQ NBIX traded up $0.08 on Thursday, reaching $111.70. 157,374 shares of the stock traded hands, compared to its average volume of 852,162. The company has a fifty day moving average price of $131.04 and a 200-day moving average price of $136.07. The company has a market cap of $11.24 billion, a price-to-earnings ratio of 30.70 and a beta of 0.36. Neurocrine Biosciences, Inc. has a 12 month low of $103.63 and a 12 month high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its earnings results on Thursday, August 1st. The company reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.52). The firm had revenue of $590.20 million for the quarter, compared to the consensus estimate of $545.98 million. Neurocrine Biosciences had a net margin of 16.00% and a return on equity of 14.86%. The company’s revenue for the quarter was up 30.4% on a year-over-year basis. During the same period last year, the firm earned $0.95 earnings per share. As a group, research analysts anticipate that Neurocrine Biosciences, Inc. will post 4.19 earnings per share for the current fiscal year.

Neurocrine Biosciences Company Profile

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.