Pier 88 Investment Partners LLC Has $612,000 Stock Position in Neurocrine Biosciences, Inc. $NBIX

Pier 88 Investment Partners LLC lessened its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 43.0% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 4,870 shares of the company’s stock after selling 3,680 shares during the period. Pier 88 Investment Partners LLC’s holdings in Neurocrine Biosciences were worth $612,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of NBIX. Y Intercept Hong Kong Ltd bought a new stake in Neurocrine Biosciences during the first quarter worth $1,460,000. Assetmark Inc. boosted its holdings in Neurocrine Biosciences by 10.8% during the 2nd quarter. Assetmark Inc. now owns 21,001 shares of the company’s stock worth $2,640,000 after acquiring an additional 2,045 shares during the last quarter. Financiere des Professionnels Fonds d investissement inc. purchased a new position in Neurocrine Biosciences during the 2nd quarter worth $696,000. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Neurocrine Biosciences by 229.1% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 19,107 shares of the company’s stock valued at $2,467,000 after purchasing an additional 13,301 shares during the last quarter. Finally, Sequoia Financial Advisors LLC bought a new position in shares of Neurocrine Biosciences during the second quarter valued at about $342,000. 92.59% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Neurocrine Biosciences in a research report on Wednesday, October 8th. Guggenheim lifted their target price on shares of Neurocrine Biosciences from $165.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. Piper Sandler upped their target price on Neurocrine Biosciences from $175.00 to $179.00 and gave the company an “overweight” rating in a report on Wednesday, October 29th. UBS Group increased their price target on Neurocrine Biosciences from $188.00 to $195.00 and gave the company a “buy” rating in a research report on Thursday, October 9th. Finally, Truist Financial reiterated a “buy” rating and set a $172.00 price target (up from $165.00) on shares of Neurocrine Biosciences in a report on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $170.26.

Neurocrine Biosciences Stock Down 1.6%

Shares of NBIX stock opened at $152.37 on Friday. The firm has a market cap of $15.19 billion, a P/E ratio of 36.45, a PEG ratio of 0.94 and a beta of 0.22. The company has a 50 day moving average of $142.02 and a 200-day moving average of $131.44. Neurocrine Biosciences, Inc. has a 12-month low of $84.23 and a 12-month high of $157.67.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings data on Tuesday, October 28th. The company reported $2.04 EPS for the quarter, beating the consensus estimate of $1.58 by $0.46. 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 for the quarter, compared to the consensus estimate of $746.61 million. During the same quarter in the prior year, the business earned $1.81 earnings per share. Neurocrine Biosciences’s revenue for the quarter was up 27.8% on a year-over-year basis. As a group, equities analysts expect that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

Insiders Place Their Bets

In other Neurocrine Biosciences news, CEO Kyle Gano sold 300 shares of the company’s stock in a transaction dated Tuesday, November 4th. The shares were 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 of the company’s stock, valued at $19,933,581.79. This represents a 0.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director William H. Rastetter sold 18,000 shares of the stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $151.82, for a total transaction of $2,732,760.00. Following the transaction, the director owned 40,360 shares of the company’s stock, valued at $6,127,455.20. This represents a 30.84% decrease in their position. The SEC filing for this sale provides additional information. 4.80% of the stock is owned by corporate insiders.

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.