Neurocrine Biosciences, Inc. $NBIX Stock Holdings Lessened by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 11.8% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 504,233 shares of the company’s stock after selling 67,486 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Neurocrine Biosciences were worth $84,981,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in Neurocrine Biosciences in the 2nd quarter worth approximately $2,310,886,000. AQR Capital Management LLC grew its holdings in shares of Neurocrine Biosciences by 83.7% during the 3rd quarter. AQR Capital Management LLC now owns 2,773,648 shares of the company’s stock valued at $388,435,000 after acquiring an additional 1,263,633 shares in the last quarter. Norges Bank acquired a new position in shares of Neurocrine Biosciences in the fourth quarter worth $162,664,000. Bank of New York Mellon Corp acquired a new position in shares of Neurocrine Biosciences in the second quarter worth $117,827,000. Finally, Ieq Capital LLC purchased a new stake in shares of Neurocrine Biosciences during the second quarter worth $107,914,000. Institutional investors and hedge funds own 92.59% of the company’s stock.

Neurocrine Biosciences Stock Performance

Shares of NASDAQ NBIX opened at $157.79 on Thursday. The firm has a market cap of $16.04 billion, a price-to-earnings ratio of 23.14, a P/E/G ratio of 0.73 and a beta of 0.38. The business’s 50-day simple moving average is $166.36 and its 200-day simple moving average is $150.00. Neurocrine Biosciences, Inc. has a 52 week low of $122.14 and a 52 week high of $186.12.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its earnings results on Friday, July 31st. The company reported $2.85 earnings per share for the quarter, topping the consensus estimate of $1.65 by $1.20. Neurocrine Biosciences had a return on equity of 22.43% and a net margin of 20.91%.The firm had revenue of $959.00 million during the quarter, compared to analyst estimates of $891.16 million. During the same period in the previous year, the company earned $1.65 EPS. The company’s revenue for the quarter was up 39.5% on a year-over-year basis. As a group, equities research analysts forecast that Neurocrine Biosciences, Inc. will post 7.25 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Cantor Fitzgerald lifted their price objective on Neurocrine Biosciences from $210.00 to $215.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. Piper Sandler raised their price target on Neurocrine Biosciences from $207.00 to $210.00 and gave the stock an “overweight” rating in a research note on Friday, July 31st. JPMorgan Chase & Co. lifted their price target on Neurocrine Biosciences from $177.00 to $185.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Royal Bank Of Canada boosted their price target on Neurocrine Biosciences from $195.00 to $198.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. Finally, Wall Street Zen downgraded Neurocrine Biosciences from a “buy” rating to a “hold” rating in a report on Sunday, August 9th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Neurocrine Biosciences has an average rating of “Moderate Buy” and an average target price of $200.86.

Insider Activity

In other news, Director Leslie V. Norwalk sold 1,250 shares of Neurocrine Biosciences stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $182.01, for a total value of $227,512.50. Following the transaction, the director owned 1,588 shares of the company’s stock, valued at $289,031.88. This trade represents a 44.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stephen A. Sherwin sold 25,000 shares of the business’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $165.32, for a total transaction of $4,133,000.00. Following the completion of the sale, the director owned 15,860 shares of the company’s stock, valued at $2,621,975.20. The trade was a 61.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 65,188 shares of company stock worth $11,251,633. 4.60% of the stock is owned by company insiders.

Neurocrine Biosciences Profile

Neurocrine Biosciences (NASDAQ: NBIX) is a biopharmaceutical company based in San Diego, California, focused on developing treatments for neurological, endocrine and neuropsychiatric disorders. Since its founding in 1992, the company has pursued a research‐driven strategy aimed at addressing unmet medical needs in movement disorders, reproductive health and central nervous system conditions. Neurocrine’s operations encompass drug discovery, clinical development and commercialization activities.

The company’s lead marketed product, Ingrezza™ (valbenazine), is indicated for the treatment of tardive dyskinesia, a movement disorder associated with long-term antipsychotic use.