Neurocrine Biosciences, Inc. $NBIX Shares Sold by Praxis Investment Management Inc.

Praxis Investment Management Inc. decreased its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 19.8% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,800 shares of the company’s stock after selling 690 shares during the period. Praxis Investment Management Inc.’s holdings in Neurocrine Biosciences were worth $352,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in NBIX. Dodge & Cox boosted its stake in shares of Neurocrine Biosciences by 83.5% during the first quarter. Dodge & Cox now owns 5,534,624 shares of the company’s stock worth $612,129,000 after buying an additional 2,518,199 shares during the period. Wellington Management Group LLP lifted its position in Neurocrine Biosciences by 44.0% in the first quarter. Wellington Management Group LLP now owns 2,097,981 shares of the company’s stock valued at $232,037,000 after purchasing an additional 640,556 shares during the period. Swedbank AB lifted its position in Neurocrine Biosciences by 5,078.9% in the first quarter. Swedbank AB now owns 429,697 shares of the company’s stock valued at $47,524,000 after purchasing an additional 421,400 shares during the period. Braidwell LP lifted its position in Neurocrine Biosciences by 32.2% in the first quarter. Braidwell LP now owns 1,191,925 shares of the company’s stock valued at $131,827,000 after purchasing an additional 290,135 shares during the period. Finally, Nuveen LLC acquired a new stake in Neurocrine Biosciences in the first quarter valued at about $31,686,000. Institutional investors and hedge funds own 92.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on NBIX. Zacks Research upgraded shares of Neurocrine Biosciences from a “hold” rating to a “strong-buy” rating in a research report on Wednesday. Needham & Company LLC raised their price objective on shares of Neurocrine Biosciences from $161.00 to $170.00 and gave the company a “buy” rating in a research report on Monday, September 22nd. Guggenheim increased their target price on shares of Neurocrine Biosciences from $165.00 to $175.00 and gave the company a “buy” rating in a report on Friday, August 1st. The Goldman Sachs Group began coverage on shares of Neurocrine Biosciences in a report on Thursday, July 10th. They issued a “buy” rating and a $182.00 target price for the company. Finally, Truist Financial began coverage on shares of Neurocrine Biosciences in a report on Monday, July 21st. They issued a “buy” rating and a $163.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Neurocrine Biosciences has an average rating of “Moderate Buy” and an average price target of $163.44.

Insider Transactions at Neurocrine Biosciences

In related news, Director Kevin Charles Gorman sold 106,322 shares of the firm’s stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $126.41, for a total transaction of $13,440,164.02. Following the sale, the director owned 514,596 shares in the company, valued at approximately $65,050,080.36. This trade represents a 17.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 4.80% of the company’s stock.

Neurocrine Biosciences Stock Performance

Shares of NASDAQ NBIX opened at $140.09 on Friday. Neurocrine Biosciences, Inc. has a 1 year low of $84.23 and a 1 year high of $154.61. The firm’s 50 day moving average price is $138.65 and its 200 day moving average price is $126.08. The firm has a market cap of $13.89 billion, a P/E ratio of 41.45, a price-to-earnings-growth ratio of 1.01 and a beta of 0.21.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its earnings results on Wednesday, July 30th. The company reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.08. Neurocrine Biosciences had a net margin of 13.88% and a return on equity of 13.22%. The firm had revenue of $687.50 million for the quarter, compared to analyst estimates of $653.09 million. During the same quarter last year, the business earned $1.63 earnings per share. Neurocrine Biosciences’s revenue was up 16.5% compared to the same quarter last year. As a group, equities analysts predict that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

About Neurocrine Biosciences

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.