Neurocrine Biosciences, Inc. $NBIX is Persistent Asset Partners Ltd’s 8th Largest Position

Persistent Asset Partners Ltd boosted its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 51.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,625 shares of the company’s stock after purchasing an additional 7,321 shares during the period. Neurocrine Biosciences comprises 2.0% of Persistent Asset Partners Ltd’s holdings, making the stock its 8th largest position. Persistent Asset Partners Ltd’s holdings in Neurocrine Biosciences were worth $2,718,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Rockefeller Capital Management L.P. boosted its holdings in shares of Neurocrine Biosciences by 424.2% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 113,229 shares of the company’s stock worth $14,232,000 after buying an additional 91,630 shares during the last quarter. Creative Planning raised its position in Neurocrine Biosciences by 31.6% in the second quarter. Creative Planning now owns 14,245 shares of the company’s stock worth $1,790,000 after acquiring an additional 3,422 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Neurocrine Biosciences by 6.7% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 25,427 shares of the company’s stock valued at $3,196,000 after acquiring an additional 1,594 shares during the last quarter. Banco Bilbao Vizcaya Argentaria S.A. grew its position in shares of Neurocrine Biosciences by 3.1% during the 2nd quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 147,880 shares of the company’s stock valued at $18,587,000 after acquiring an additional 4,511 shares during the period. Finally, Impax Asset Management Group plc increased its stake in shares of Neurocrine Biosciences by 15.0% during the 2nd quarter. Impax Asset Management Group plc now owns 115,000 shares of the company’s stock worth $14,454,000 after purchasing an additional 15,000 shares during the last quarter. 92.59% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NBIX has been the topic of several research analyst reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Neurocrine Biosciences in a research note on Wednesday, October 8th. Citigroup boosted their target price on Neurocrine Biosciences from $175.00 to $203.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Guggenheim increased their price target on Neurocrine Biosciences from $165.00 to $175.00 and gave the stock a “buy” rating in a research note on Friday, August 1st. Royal Bank Of Canada boosted their price objective on Neurocrine Biosciences from $156.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, October 29th. Finally, Piper Sandler upped their price objective on shares of Neurocrine Biosciences from $175.00 to $179.00 and gave the company an “overweight” rating in a report on Wednesday, October 29th. One equities research 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 stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $170.53.

Insider Activity at Neurocrine Biosciences

In related news, Director William H. Rastetter sold 18,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $151.82, for a total transaction of $2,732,760.00. Following the sale, the director owned 40,360 shares of the company’s stock, valued at approximately $6,127,455.20. This represents a 30.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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 completion of 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 SEC filing for this sale provides additional information. 4.80% of the stock is currently owned by insiders.

Neurocrine Biosciences Stock Performance

Shares of NBIX opened at $144.86 on Friday. 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 $142.64 and its 200 day simple moving average is $132.86. The stock has a market capitalization of $14.44 billion, a price-to-earnings ratio of 34.66, a price-to-earnings-growth ratio of 0.94 and a beta of 0.22.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its earnings results on Tuesday, October 28th. The company reported $2.17 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.59. Neurocrine Biosciences had a return on equity of 15.82% and a net margin of 15.95%.The business had revenue of $794.90 million during the quarter, compared to analyst estimates of $746.61 million. During the same quarter in the previous year, the firm earned $1.81 EPS. The company’s quarterly revenue was up 27.8% compared to the same quarter last year. On average, research analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

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.