Neurocrine Biosciences, Inc. $NBIX Stock: University of Texas Texas AM Investment Management Co. Lowers Position

University of Texas Texas AM Investment Management Co. cut its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 89.9% in the third quarter, HoldingsChannel reports. The fund owned 723 shares of the company’s stock after selling 6,469 shares during the quarter. University of Texas Texas AM Investment Management Co.’s holdings in Neurocrine Biosciences were worth $103,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of NBIX. Candriam S.C.A. increased its holdings in shares of Neurocrine Biosciences by 32.2% in the 3rd quarter. Candriam S.C.A. now owns 344,883 shares of the company’s stock valued at $49,097,000 after purchasing an additional 83,957 shares during the period. Ethic Inc. lifted its position in shares of Neurocrine Biosciences by 11.1% in the third quarter. Ethic Inc. now owns 1,909 shares of the company’s stock worth $271,000 after purchasing an additional 191 shares in the last quarter. Formidable Asset Management LLC acquired a new stake in shares of Neurocrine Biosciences during the third quarter worth approximately $428,000. AlphaCentric Advisors LLC boosted its holdings in shares of Neurocrine Biosciences by 5.2% during the third quarter. AlphaCentric Advisors LLC now owns 10,230 shares of the company’s stock worth $1,451,000 after purchasing an additional 503 shares during the period. Finally, Parallel Advisors LLC grew its position in Neurocrine Biosciences by 3.5% during the third quarter. Parallel Advisors LLC now owns 1,780 shares of the company’s stock valued at $252,000 after purchasing an additional 61 shares in the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Insiders Place Their Bets

In other Neurocrine Biosciences news, CFO Matt Abernethy sold 2,311 shares of the business’s stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $157.20, for a total value of $363,289.20. Following the completion of the sale, the chief financial officer directly owned 42,808 shares of the company’s stock, valued at $6,729,417.60. The trade was a 5.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director George J. Morrow sold 7,200 shares of the stock in a transaction on Tuesday, November 3rd. The stock was sold at an average price of $166.37, for a total transaction of $1,197,864.00. Following the transaction, the director owned 10,386 shares in the company, valued at approximately $1,727,918.82. This trade represents a 40.94% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 18,137 shares of company stock valued at $2,829,332 over the last ninety days. Corporate insiders own 4.60% of the company’s stock.

Neurocrine Biosciences Stock Performance

Shares of NASDAQ NBIX opened at $168.86 on Tuesday. The stock has a market cap of $17.09 billion, a price-to-earnings ratio of 25.05, a PEG ratio of 0.74 and a beta of 0.36. The business has a 50 day simple moving average of $147.51 and a 200 day simple moving average of $148.22. Neurocrine Biosciences, Inc. has a 52 week low of $122.14 and a 52 week high of $186.12.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings data on Monday, November 2nd. The company reported $3.29 earnings per share for the quarter, beating the consensus estimate of $1.91 by $1.38. The firm had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.04 billion. Neurocrine Biosciences had a net margin of 18.98% and a return on equity of 23.39%. The company’s revenue for the quarter was up 41.3% on a year-over-year basis. During the same quarter last year, the firm earned $2.04 earnings per share. On average, analysts predict that Neurocrine Biosciences, Inc. will post 8.41 EPS for the current year.

Analyst Ratings Changes

Several research analysts have weighed in on NBIX shares. Piper Sandler upped their price objective on shares of Neurocrine Biosciences from $210.00 to $215.00 and gave the company an “overweight” rating in a research note on Tuesday, November 3rd. Stifel Nicolaus lifted their target price on shares of Neurocrine Biosciences from $188.00 to $215.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Wells Fargo & Company boosted their price target on shares of Neurocrine Biosciences from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, July 17th. Wedbush boosted their price target on shares of Neurocrine Biosciences from $185.00 to $194.00 and gave the company an “outperform” rating in a report on Monday, August 3rd. Finally, BMO Capital Markets dropped their price target on shares of Neurocrine Biosciences from $164.00 to $150.00 and set a “market perform” rating on the stock in a research note on Monday, October 12th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $202.32.

Neurocrine Biosciences Company Profile

Neurocrine Biosciences is a biopharmaceutical company focused on developing and commercializing treatments for neurological, endocrine and related disorders. Founded in 1992 and headquartered in San Diego, California, the company conducts research and development alongside its commercial operations.

Its marketed medicines include INGREZZA (valbenazine), approved in the United States for tardive dyskinesia and chorea associated with Huntington disease, and CRENESSITY (crinecerfont), used with glucocorticoid replacement therapy to treat classic congenital adrenal hyperplasia in adults and children.

Neurocrine primarily serves the U.S.