Bank of Montreal Can Sells 2,182 Shares of Neurocrine Biosciences, Inc. $NBIX

Bank of Montreal Can cut its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 6.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,523 shares of the company’s stock after selling 2,182 shares during the period. Bank of Montreal Can’s holdings in Neurocrine Biosciences were worth $3,836,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Geneos Wealth Management Inc. raised its holdings in shares of Neurocrine Biosciences by 143.6% in the first quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock valued at $25,000 after purchasing an additional 135 shares during the last quarter. WPG Advisers LLC bought a new stake in Neurocrine Biosciences in the 1st quarter worth about $32,000. SVB Wealth LLC purchased a new stake in Neurocrine Biosciences in the 1st quarter valued at about $35,000. Caitong International Asset Management Co. Ltd lifted its position in shares of 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 buying an additional 440 shares in the last quarter. Finally, Wolff Wiese Magana LLC boosted its stake in shares of Neurocrine Biosciences by 982.1% in the 2nd quarter. Wolff Wiese Magana LLC now owns 844 shares of the company’s stock worth $106,000 after buying an additional 766 shares during the last quarter. 92.59% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Neurocrine Biosciences news, CEO Kyle Gano sold 300 shares of the stock in a transaction 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 sale, the chief executive officer owned 140,407 shares in the company, valued at $19,933,581.79. This represents a 0.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director William H. Rastetter sold 18,000 shares of the firm’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $151.82, for a total value of $2,732,760.00. Following the completion of the transaction, the director directly owned 40,360 shares of the company’s stock, valued at $6,127,455.20. The trade was a 30.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 4.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on NBIX shares. Royal Bank Of Canada increased their price target on Neurocrine Biosciences from $156.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, October 29th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Neurocrine Biosciences in a research report on Wednesday, October 8th. Wedbush reissued an “outperform” rating on shares of Neurocrine Biosciences in a report on Monday, September 22nd. Citigroup increased their price target on shares of Neurocrine Biosciences from $175.00 to $203.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Finally, Piper Sandler lifted their price objective on shares of Neurocrine Biosciences from $175.00 to $179.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Neurocrine Biosciences has a consensus rating of “Moderate Buy” and an average price target of $170.53.

Neurocrine Biosciences Stock Performance

Shares of Neurocrine Biosciences stock opened at $147.29 on Wednesday. The stock has a market capitalization of $14.69 billion, a P/E ratio of 35.24, a P/E/G ratio of 0.94 and a beta of 0.22. Neurocrine Biosciences, Inc. has a 52-week low of $84.23 and a 52-week high of $157.67. The stock’s 50-day simple moving average is $142.34 and its 200 day simple moving average is $132.23.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its earnings results on Tuesday, October 28th. The company reported $2.04 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.46. Neurocrine Biosciences had a net margin of 15.95% and a return on equity of 15.82%. The firm had revenue of $794.90 million during the quarter, compared to the consensus estimate of $746.61 million. During the same quarter last year, the company earned $1.81 earnings per share. The company’s revenue was up 27.8% on a year-over-year basis. Equities research analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

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.