Trexquant Investment LP Reduces Stock Position in Neurocrine Biosciences, Inc. $NBIX

Trexquant Investment LP lowered its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 27.8% during the 1st quarter, HoldingsChannel reports. The firm owned 40,542 shares of the company’s stock after selling 15,644 shares during the period. Trexquant Investment LP’s holdings in Neurocrine Biosciences were worth $4,484,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. DE Burlo Group Inc. boosted its holdings in Neurocrine Biosciences by 2.2% in the first quarter. DE Burlo Group Inc. now owns 4,717 shares of the company’s stock worth $522,000 after purchasing an additional 100 shares during the last quarter. Sheaff Brock Investment Advisors LLC boosted its holdings in Neurocrine Biosciences by 4.8% in the first quarter. Sheaff Brock Investment Advisors LLC now owns 2,619 shares of the company’s stock worth $290,000 after purchasing an additional 120 shares during the last quarter. Aurora Investment Counsel boosted its holdings in Neurocrine Biosciences by 1.3% in the first quarter. Aurora Investment Counsel now owns 10,520 shares of the company’s stock worth $1,164,000 after purchasing an additional 138 shares during the last quarter. Illumine Investment Management LLC boosted its holdings in Neurocrine Biosciences by 1.5% in the first quarter. Illumine Investment Management LLC now owns 9,641 shares of the company’s stock worth $1,066,000 after purchasing an additional 139 shares during the last quarter. Finally, State of Alaska Department of Revenue boosted its holdings in Neurocrine Biosciences by 1.3% in the first quarter. State of Alaska Department of Revenue now owns 11,680 shares of the company’s stock worth $1,291,000 after purchasing an additional 145 shares during the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Neurocrine Biosciences Price Performance

Shares of NBIX stock opened at $139.60 on Tuesday. The company has a market capitalization of $13.85 billion, a price-to-earnings ratio of 41.30, a PEG ratio of 1.01 and a beta of 0.28. Neurocrine Biosciences, Inc. has a one year low of $84.23 and a one year high of $154.61. The company’s fifty day moving average price is $131.53 and its 200-day moving average price is $119.61.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $1.06 EPS for the quarter, beating the consensus estimate of $0.98 by $0.08. The firm had revenue of $687.50 million for the quarter, compared to the consensus estimate of $653.09 million. Neurocrine Biosciences had a net margin of 13.88% and a return on equity of 13.22%. The company’s revenue was up 16.5% on a year-over-year basis. During the same period last year, the firm earned $1.63 EPS. Equities research analysts expect that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on NBIX shares. JPMorgan Chase & Co. raised their target price on shares of Neurocrine Biosciences from $140.00 to $145.00 and gave the stock a “neutral” rating in a report on Thursday, July 31st. Truist Financial began coverage on shares of Neurocrine Biosciences in a research report on Monday, July 21st. They issued a “buy” rating and a $163.00 price target on the stock. Needham & Company LLC increased their price target on shares of Neurocrine Biosciences from $138.00 to $139.00 and gave the stock a “buy” rating in a research report on Tuesday, May 6th. Piper Sandler increased their price target on shares of Neurocrine Biosciences from $154.00 to $175.00 and gave the stock an “overweight” rating in a research report on Thursday, July 31st. Finally, Morgan Stanley increased their price target on shares of Neurocrine Biosciences from $150.00 to $158.00 and gave the stock an “overweight” rating in a research report on Thursday, July 31st. Eighteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $159.50.

Insider Activity

In other news, Director Kevin Charles Gorman sold 106,322 shares of the firm’s stock in a transaction 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 directly owned 514,596 shares in the company, valued at $65,050,080.36. This trade represents a 17.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jude Onyia sold 59,819 shares of the firm’s stock in a transaction on Wednesday, July 9th. The shares were sold at an average price of $130.46, for a total transaction of $7,803,986.74. Following the sale, the insider owned 18,289 shares in the company, valued at $2,385,982.94. The trade was a 76.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 186,960 shares of company stock worth $23,955,553 in the last three months. Company insiders own 4.30% of the company’s stock.

Neurocrine Biosciences Company 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.