DNB Asset Management AS Lowers Holdings in Neurocrine Biosciences, Inc. $NBIX

DNB Asset Management AS reduced its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 10.3% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 114,940 shares of the company’s stock after selling 13,172 shares during the quarter. DNB Asset Management AS owned about 0.12% of Neurocrine Biosciences worth $14,447,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Geneos Wealth Management Inc. grew its position in shares of 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 buying an additional 135 shares in the last quarter. WPG Advisers LLC bought a new stake in shares of Neurocrine Biosciences in the first quarter valued at about $32,000. SVB Wealth LLC purchased a new stake in Neurocrine Biosciences in the first quarter worth about $35,000. True Wealth Design LLC grew its holdings in Neurocrine Biosciences by 1,215.4% during the 2nd quarter. True Wealth Design LLC now owns 342 shares of the company’s stock worth $43,000 after acquiring an additional 316 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its holdings in Neurocrine Biosciences by 6,285.7% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 447 shares of the company’s stock worth $49,000 after acquiring an additional 440 shares in the last quarter. 92.59% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. UBS Group boosted their price target on shares of Neurocrine Biosciences from $188.00 to $195.00 and gave the company a “buy” rating in a report on Thursday, October 9th. Guggenheim lifted their price objective 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. Citigroup boosted their price objective on shares of Neurocrine Biosciences from $175.00 to $203.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Morgan Stanley dropped their target price on Neurocrine Biosciences from $178.00 to $173.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 11th. Finally, Wedbush reiterated an “outperform” rating on shares of Neurocrine Biosciences in a report on Monday, September 22nd. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Neurocrine Biosciences presently has a consensus rating of “Moderate Buy” and an average price target of $170.53.

Neurocrine Biosciences Price Performance

Neurocrine Biosciences stock opened at $141.83 on Friday. The stock has a market capitalization of $14.14 billion, a price-to-earnings ratio of 33.93, a PEG ratio of 0.94 and a beta of 0.22. Neurocrine Biosciences, Inc. has a 1-year low of $84.23 and a 1-year high of $157.67. The business has a fifty day moving average price of $142.37 and a 200-day moving average price of $133.79.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its earnings results on Tuesday, October 28th. The company reported $2.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.59. The company had revenue of $794.90 million for the quarter, compared to analyst estimates of $746.61 million. Neurocrine Biosciences had a return on equity of 15.82% and a net margin of 15.95%.The firm’s quarterly revenue was up 27.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.81 EPS. On average, equities research analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

Insider Activity at Neurocrine Biosciences

In related news, CEO Kyle Gano sold 300 shares of the stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $141.97, for a total value of $42,591.00. Following the completion of the transaction, the chief executive officer directly owned 140,407 shares of the company’s stock, valued at $19,933,581.79. This trade represents a 0.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director William H. Rastetter sold 18,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $151.82, for a total transaction of $2,732,760.00. Following the sale, the director directly owned 40,360 shares in the company, valued at approximately $6,127,455.20. This represents a 30.84% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 4.80% of the company’s stock.

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.