Pier 88 Investment Partners LLC Sells 3,680 Shares of Neurocrine Biosciences, Inc. $NBIX

Pier 88 Investment Partners LLC cut its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 43.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,870 shares of the company’s stock after selling 3,680 shares during the period. Pier 88 Investment Partners LLC’s holdings in Neurocrine Biosciences were worth $612,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Sound View Wealth Advisors Group LLC grew its position in Neurocrine Biosciences by 3.9% during the 2nd quarter. Sound View Wealth Advisors Group LLC now owns 5,100 shares of the company’s stock worth $641,000 after acquiring an additional 190 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Neurocrine Biosciences by 345.1% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 248,633 shares of the company’s stock valued at $31,251,000 after purchasing an additional 192,768 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Neurocrine Biosciences by 18.8% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 91,388 shares of the company’s stock valued at $11,487,000 after purchasing an additional 14,466 shares in the last quarter. Aviva PLC grew its holdings in shares of Neurocrine Biosciences by 1,059.3% during the second quarter. Aviva PLC now owns 61,746 shares of the company’s stock worth $7,761,000 after purchasing an additional 56,420 shares during the last quarter. Finally, Los Angeles Capital Management LLC increased its stake in shares of Neurocrine Biosciences by 19,454.9% in the second quarter. Los Angeles Capital Management LLC now owns 744,650 shares of the company’s stock valued at $93,595,000 after buying an additional 740,842 shares during the period. 92.59% of the stock is currently owned by institutional investors.

Neurocrine Biosciences Stock Down 1.6%

NBIX opened at $152.37 on Friday. Neurocrine Biosciences, Inc. has a twelve month low of $84.23 and a twelve month high of $157.67. The company has a fifty day moving average of $142.02 and a 200-day moving average of $131.44. The stock has a market cap of $15.19 billion, a PE ratio of 36.45, a price-to-earnings-growth ratio of 0.94 and a beta of 0.22.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings results on Tuesday, October 28th. The company reported $2.04 EPS for the quarter, beating analysts’ consensus estimates of $1.58 by $0.46. Neurocrine Biosciences had a net margin of 15.95% and a return on equity of 15.82%. The business had revenue of $794.90 million for the quarter, compared to analysts’ expectations of $746.61 million. During the same quarter in the prior year, the firm posted $1.81 earnings per share. The business’s quarterly revenue was up 27.8% compared to the same quarter last year. Sell-side analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

Analyst Ratings Changes

NBIX has been the topic of several recent research reports. JPMorgan Chase & Co. lifted their target price on shares of Neurocrine Biosciences from $171.00 to $179.00 and gave the stock an “overweight” rating in a research report on Monday, November 3rd. Royal Bank Of Canada raised their price target on shares of Neurocrine Biosciences from $156.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, October 29th. Wedbush reiterated an “outperform” rating on shares of Neurocrine Biosciences in a report on Monday, September 22nd. Guggenheim boosted their price objective on shares of Neurocrine Biosciences from $165.00 to $175.00 and gave the stock a “buy” rating in a research note on Friday, August 1st. Finally, Needham & Company LLC increased their price objective on Neurocrine Biosciences from $170.00 to $184.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $170.26.

Insider Activity at Neurocrine Biosciences

In other Neurocrine Biosciences news, CEO Kyle Gano sold 300 shares of the stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $141.97, for a total transaction of $42,591.00. Following the transaction, the chief executive officer directly owned 140,407 shares in the company, valued at approximately $19,933,581.79. This represents a 0.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director William H. Rastetter sold 18,000 shares of the firm’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 of the company’s stock, valued at approximately $6,127,455.20. This trade 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.