Neurocrine Biosciences, Inc. $NBIX Shares Sold by Peregrine Capital Management LLC

Peregrine Capital Management LLC lowered its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 8.1% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 67,069 shares of the company’s stock after selling 5,903 shares during the period. Peregrine Capital Management LLC owned approximately 0.07% of Neurocrine Biosciences worth $8,430,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. grew its holdings in Neurocrine Biosciences by 143.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock worth $25,000 after acquiring an additional 135 shares in the last quarter. WPG Advisers LLC acquired a new position in Neurocrine Biosciences during the 1st quarter worth approximately $32,000. Smallwood Wealth Investment Management LLC acquired a new position in Neurocrine Biosciences during the 1st quarter worth approximately $34,000. SVB Wealth LLC acquired a new position in Neurocrine Biosciences during the 1st quarter worth approximately $35,000. Finally, Golden State Wealth Management LLC grew its holdings in Neurocrine Biosciences by 116.9% during the 1st quarter. Golden State Wealth Management LLC now owns 397 shares of the company’s stock worth $44,000 after acquiring an additional 214 shares in the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

Insider Buying and Selling

In related news, Director Kevin Charles Gorman sold 106,322 shares of the company’s stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $126.41, for a total value of $13,440,164.02. Following the completion of the sale, the director owned 514,596 shares in the company, valued at $65,050,080.36. This represents a 17.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Guggenheim boosted their price target on shares of Neurocrine Biosciences from $165.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, August 1st. Truist Financial assumed coverage on shares of Neurocrine Biosciences in a report on Monday, July 21st. They set a “buy” rating and a $163.00 price target for the company. Morgan Stanley boosted their price target on shares of Neurocrine Biosciences from $163.00 to $168.00 and gave the stock an “overweight” rating in a report on Monday, October 20th. UBS Group boosted their price objective on shares of Neurocrine Biosciences from $188.00 to $195.00 and gave the stock a “buy” rating in a research report on Thursday, October 9th. Finally, Wedbush restated an “outperform” rating on shares of Neurocrine Biosciences in a research report on Monday, September 22nd. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $164.32.

Neurocrine Biosciences Trading Up 3.4%

Shares of NASDAQ:NBIX opened at $148.94 on Tuesday. The firm has a 50 day simple moving average of $140.25 and a 200-day simple moving average of $128.40. Neurocrine Biosciences, Inc. has a twelve month low of $84.23 and a twelve month high of $154.61. The company has a market capitalization of $14.77 billion, a PE ratio of 44.07, a P/E/G ratio of 0.98 and a beta of 0.21.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings results on Wednesday, July 30th. The company reported $1.06 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $653.09 million. During the same quarter in the prior year, the firm earned $1.63 EPS. Neurocrine Biosciences’s revenue for the quarter was up 16.5% on a year-over-year basis. As a group, equities research analysts predict that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

Neurocrine Biosciences 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.