Wellington Management Group LLP Sells 1,354,898 Shares of Neurocrine Biosciences, Inc. $NBIX

Wellington Management Group LLP lessened its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 97.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 34,641 shares of the company’s stock after selling 1,354,898 shares during the quarter. Wellington Management Group LLP’s holdings in Neurocrine Biosciences were worth $5,838,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in NBIX. DJE Kapital AG purchased a new position in shares of Neurocrine Biosciences in the fourth quarter worth about $28,000. Geneos Wealth Management Inc. boosted its holdings in Neurocrine Biosciences by 143.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock valued at $25,000 after acquiring an additional 135 shares during the period. Meeder Asset Management Inc. boosted its holdings in Neurocrine Biosciences by 651.6% during the 4th quarter. Meeder Asset Management Inc. now owns 233 shares of the company’s stock valued at $33,000 after acquiring an additional 202 shares during the period. Basecamp Wealth Advisors LLC grew its position in Neurocrine Biosciences by 582.9% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 239 shares of the company’s stock worth $31,000 after acquiring an additional 204 shares during the last quarter. Finally, Cassaday & Co Wealth Management LLC bought a new position in Neurocrine Biosciences during the 1st quarter worth approximately $33,000. 92.59% of the stock is owned by institutional investors.

Insider Buying and Selling at Neurocrine Biosciences

In other news, insider Ingrid Delaet sold 8,433 shares of the business’s stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $178.72, for a total transaction of $1,507,145.76. Following the sale, the insider owned 16,225 shares in the company, valued at approximately $2,899,732. The trade was a 34.20% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Leslie V. Norwalk sold 1,250 shares of the company’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $182.01, for a total transaction of $227,512.50. Following the completion of the sale, the director directly owned 1,588 shares in the company, valued at $289,031.88. This represents a 44.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 40,188 shares of company stock valued at $7,118,633. 4.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Morgan Stanley lowered their price objective on Neurocrine Biosciences from $196.00 to $182.00 and set an “equal weight” rating for the company in a research report on Thursday, August 13th. Cantor Fitzgerald raised their price target on shares of Neurocrine Biosciences from $210.00 to $215.00 and gave the stock an “overweight” rating in a report on Friday, July 31st. Weiss Ratings upgraded shares of Neurocrine Biosciences from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, August 25th. Wall Street Zen cut Neurocrine Biosciences from a “buy” rating to a “hold” rating in a report on Sunday, August 9th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $198.00 target price on shares of Neurocrine Biosciences in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $201.05.

Neurocrine Biosciences Stock Performance

Shares of NASDAQ:NBIX opened at $155.14 on Thursday. The firm has a market capitalization of $15.77 billion, a P/E ratio of 22.75, a P/E/G ratio of 0.73 and a beta of 0.38. The stock has a 50 day moving average price of $165.18 and a 200-day moving average price of $151.02. Neurocrine Biosciences, Inc. has a 52-week low of $122.14 and a 52-week high of $186.12.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings results on Friday, July 31st. The company reported $2.85 earnings per share for the quarter, topping the consensus estimate of $1.65 by $1.20. The company had revenue of $959.00 million for the quarter, compared to analysts’ expectations of $891.16 million. Neurocrine Biosciences had a return on equity of 22.43% and a net margin of 20.91%.The firm’s revenue for the quarter was up 39.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.65 earnings per share. On average, equities analysts forecast that Neurocrine Biosciences, Inc. will post 7.25 EPS for the current fiscal year.

About Neurocrine Biosciences

Neurocrine Biosciences, Inc is a biopharmaceutical company focused on discovering, developing and commercializing medicines for neurological, neuroendocrine and psychiatric disorders. The company develops therapies for conditions with significant unmet medical needs, using expertise in neuroscience and endocrine biology.

Its primary commercial product is INGREZZA (valbenazine), a vesicular monoamine transporter 2 inhibitor approved in the United States for the treatment of tardive dyskinesia and chorea associated with Huntington’s disease.