Tobam Reduces Holdings in Neurocrine Biosciences, Inc. $NBIX

Tobam lowered its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 56.5% during the second quarter, Holdings Channel reports. The firm 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 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in the company. Geneos Wealth Management Inc. increased its position in Neurocrine Biosciences by 143.6% during the first quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock worth $25,000 after buying an additional 135 shares during the period. WPG Advisers LLC purchased a new position in shares of Neurocrine Biosciences in the 1st quarter valued at approximately $32,000. SVB Wealth LLC acquired a new position in shares of Neurocrine Biosciences in the first quarter valued at approximately $35,000. True Wealth Design LLC lifted its holdings in shares of Neurocrine Biosciences by 1,215.4% during the second quarter. True Wealth Design LLC now owns 342 shares of the company’s stock worth $43,000 after purchasing an additional 316 shares during the period. Finally, Caitong International Asset Management Co. Ltd grew its position in Neurocrine Biosciences by 6,285.7% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 447 shares of the company’s stock valued at $49,000 after buying an additional 440 shares during the last quarter. 92.59% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Neurocrine Biosciences

In other Neurocrine Biosciences news, CEO Kyle Gano sold 300 shares of the company’s stock in a transaction dated 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 directly 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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director William H. Rastetter sold 18,000 shares of Neurocrine Biosciences stock in a transaction dated 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 directly owned 40,360 shares in the company, valued at $6,127,455.20. This represents a 30.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 4.80% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Guggenheim lifted their price target on Neurocrine Biosciences from $165.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, August 1st. Piper Sandler increased their price target 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. UBS Group raised their price objective on shares of Neurocrine Biosciences from $188.00 to $195.00 and gave the company a “buy” rating in a research note on Thursday, October 9th. Needham & Company LLC upped their target price on shares of Neurocrine Biosciences from $170.00 to $184.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Finally, JPMorgan Chase & Co. increased their target price on shares of Neurocrine Biosciences from $171.00 to $179.00 and gave the company an “overweight” rating in a report on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $170.53.

Neurocrine Biosciences Stock Performance

Neurocrine Biosciences stock opened at $147.29 on Wednesday. The company has a market capitalization of $14.69 billion, a price-to-earnings ratio of 35.24, a PEG ratio of 0.94 and a beta of 0.22. Neurocrine Biosciences, Inc. has a fifty-two week low of $84.23 and a fifty-two week high of $157.67. The stock has a fifty day moving average of $142.34 and a two-hundred day moving average of $132.23.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings results on Tuesday, October 28th. The company reported $2.04 earnings per share 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 company had revenue of $794.90 million for the quarter, compared to analyst estimates of $746.61 million. During the same quarter in the prior year, the company posted $1.81 EPS. The business’s revenue for the quarter was up 27.8% compared to the same quarter last year. On average, analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

About Neurocrine Biosciences

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.