Tobam Trims Stock Holdings in Neurocrine Biosciences, Inc. $NBIX

Tobam cut its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 56.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,584 shares of the company’s stock after selling 12,428 shares during the quarter. Tobam’s holdings in Neurocrine Biosciences were worth $1,205,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Dodge & Cox lifted its holdings in Neurocrine Biosciences by 83.5% in the first quarter. Dodge & Cox now owns 5,534,624 shares of the company’s stock valued at $612,129,000 after acquiring an additional 2,518,199 shares during the period. Los Angeles Capital Management LLC increased its holdings in shares of Neurocrine Biosciences by 19,454.9% during the 2nd quarter. Los Angeles Capital Management LLC now owns 744,650 shares of the company’s stock valued at $93,595,000 after purchasing an additional 740,842 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Neurocrine Biosciences by 44.0% during the first quarter. Wellington Management Group LLP now owns 2,097,981 shares of the company’s stock worth $232,037,000 after buying an additional 640,556 shares in the last quarter. Swedbank AB grew its position in Neurocrine Biosciences by 5,078.9% during the first quarter. Swedbank AB now owns 429,697 shares of the company’s stock valued at $47,524,000 after buying an additional 421,400 shares during the period. Finally, Braidwell LP increased its holdings in Neurocrine Biosciences by 32.2% in the first quarter. Braidwell LP now owns 1,191,925 shares of the company’s stock valued at $131,827,000 after buying an additional 290,135 shares in the last quarter. 92.59% of the stock is owned by institutional investors and hedge funds.

Neurocrine Biosciences Trading Down 1.8%

NBIX opened at $147.29 on Wednesday. The firm has a market capitalization of $14.69 billion, a PE ratio of 35.24, a PEG ratio of 0.94 and a beta of 0.22. Neurocrine Biosciences, Inc. has a twelve month low of $84.23 and a twelve month high of $157.67. The firm’s 50-day moving average price is $142.34 and its 200 day moving average price is $132.23.

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

Insider Activity

In other news, Director William H. Rastetter sold 18,000 shares of the firm’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 value of $2,732,760.00. Following the completion of the transaction, the director 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Kyle Gano sold 300 shares of the company’s 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 sale, the chief executive officer directly owned 140,407 shares in the company, valued at approximately $19,933,581.79. The trade was 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 corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Wedbush reissued an “outperform” rating on shares of Neurocrine Biosciences in a research note on Monday, September 22nd. UBS Group upped their price target on Neurocrine Biosciences from $188.00 to $195.00 and gave the stock a “buy” rating in a report on Thursday, October 9th. Needham & Company LLC boosted their price objective on Neurocrine Biosciences from $170.00 to $184.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Morgan Stanley reduced their target price on Neurocrine Biosciences from $178.00 to $173.00 and set an “overweight” rating for the company in a research note on Tuesday. Finally, Royal Bank Of Canada lifted 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. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Neurocrine Biosciences presently has an average rating of “Moderate Buy” and an average target price of $170.53.

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.