Neurocrine Biosciences, Inc. $NBIX Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lessened its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 8.7% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 393,298 shares of the company’s stock after selling 37,337 shares during the period. Pictet Asset Management Holding SA’s holdings in Neurocrine Biosciences were worth $55,484,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Parallel Advisors LLC raised its position in shares of Neurocrine Biosciences by 3.5% during the third quarter. Parallel Advisors LLC now owns 1,780 shares of the company’s stock worth $252,000 after purchasing an additional 61 shares during the period. NewEdge Advisors LLC lifted its stake in shares of Neurocrine Biosciences by 0.5% in the first quarter. NewEdge Advisors LLC now owns 13,066 shares of the company’s stock valued at $1,721,000 after buying an additional 68 shares in the last quarter. Westpac Banking Corp increased its position in shares of Neurocrine Biosciences by 6.0% during the first quarter. Westpac Banking Corp now owns 1,615 shares of the company’s stock worth $213,000 after acquiring an additional 91 shares in the last quarter. Meiji Yasuda Life Insurance Co increased its position in shares of Neurocrine Biosciences by 1.8% during the second quarter. Meiji Yasuda Life Insurance Co now owns 5,628 shares of the company’s stock worth $949,000 after acquiring an additional 100 shares in the last quarter. Finally, ProShare Advisors LLC increased its position in shares of Neurocrine Biosciences by 1.7% during the third quarter. ProShare Advisors LLC now owns 7,388 shares of the company’s stock worth $1,048,000 after acquiring an additional 124 shares in the last quarter. Institutional investors own 92.59% of the company’s stock.

Insider Activity

In related news, insider David W. Boyer sold 826 shares of Neurocrine Biosciences stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $157.45, for a total value of $130,053.70. Following the sale, the insider owned 8,722 shares of the company’s stock, valued at approximately $1,373,278.90. The trade was a 8.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director George Morrow sold 7,500 shares of the company’s stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $145.79, for a total value of $1,093,425.00. Following the completion of the transaction, the director owned 10,386 shares in the company, valued at approximately $1,514,174.94. The trade was a 41.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 18,137 shares of company stock valued at $2,829,332 in the last three months. Company insiders own 4.60% of the company’s stock.

Neurocrine Biosciences Trading Up 2.6%

Shares of Neurocrine Biosciences stock opened at $168.86 on Tuesday. The business’s fifty day simple moving average is $147.51 and its 200 day simple moving average is $148.22. Neurocrine Biosciences, Inc. has a 12 month low of $122.14 and a 12 month high of $186.12. The firm has a market capitalization of $17.09 billion, a P/E ratio of 20.81, a price-to-earnings-growth ratio of 0.74 and a beta of 0.36.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings results on Monday, November 2nd. The company reported $3.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.91 by $1.38. The company had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.04 billion. Neurocrine Biosciences had a net margin of 18.98% and a return on equity of 23.39%. The firm’s quarterly revenue was up 41.3% on a year-over-year basis. During the same period in the previous year, the firm earned $2.04 EPS. Analysts predict that Neurocrine Biosciences, Inc. will post 8.41 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently weighed in on NBIX shares. TD Cowen raised their price target on shares of Neurocrine Biosciences from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Wedbush boosted their price objective on Neurocrine Biosciences from $185.00 to $194.00 and gave the stock an “outperform” rating in a report on Monday, August 3rd. Royal Bank Of Canada increased their price objective on Neurocrine Biosciences from $187.00 to $190.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 3rd. Wall Street Zen raised Neurocrine Biosciences from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Guggenheim upped their price target on Neurocrine Biosciences from $207.00 to $224.00 and gave the stock a “buy” rating in a report on Wednesday, November 4th. One research 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $202.32.

Neurocrine Biosciences Profile

Neurocrine Biosciences is a biopharmaceutical company focused on developing and commercializing treatments for neurological, endocrine and related disorders. Founded in 1992 and headquartered in San Diego, California, the company conducts research and development alongside its commercial operations.

Its marketed medicines include INGREZZA (valbenazine), approved in the United States for tardive dyskinesia and chorea associated with Huntington disease, and CRENESSITY (crinecerfont), used with glucocorticoid replacement therapy to treat classic congenital adrenal hyperplasia in adults and children.

Neurocrine primarily serves the U.S.