Voya Investment Management LLC Cuts Stock Position in Neurocrine Biosciences, Inc. $NBIX

Voya Investment Management LLC cut its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 25.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 91,278 shares of the company’s stock after selling 30,462 shares during the quarter. Voya Investment Management LLC owned approximately 0.09% of Neurocrine Biosciences worth $12,814,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Dodge & Cox increased its holdings in Neurocrine Biosciences by 0.6% during the second quarter. Dodge & Cox now owns 5,566,814 shares of the company’s stock worth $699,693,000 after buying an additional 32,190 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Neurocrine Biosciences by 59.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 4,261,747 shares of the company’s stock worth $535,659,000 after purchasing an additional 1,590,749 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Neurocrine Biosciences by 3.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,539,601 shares of the company’s stock valued at $170,281,000 after purchasing an additional 49,088 shares during the period. AQR Capital Management LLC increased its position in Neurocrine Biosciences by 40.5% in the second quarter. AQR Capital Management LLC now owns 1,510,015 shares of the company’s stock worth $189,794,000 after buying an additional 435,385 shares during the last quarter. Finally, Braidwell LP lifted its position in shares of Neurocrine Biosciences by 32.2% during the 1st 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 during the last quarter. 92.59% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Canaccord Genuity Group boosted their price objective on Neurocrine Biosciences from $160.00 to $164.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Needham & Company LLC raised their price objective on shares of Neurocrine Biosciences from $170.00 to $184.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Stifel Nicolaus boosted their target price on shares of Neurocrine Biosciences from $183.00 to $188.00 and gave the company a “buy” rating in a report on Thursday, December 11th. TD Cowen raised their price target on Neurocrine Biosciences from $175.00 to $200.00 and gave the stock a “buy” rating in a report on Friday, December 5th. Finally, Wedbush reiterated an “outperform” rating on shares of Neurocrine Biosciences in a research report on Monday, September 22nd. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, Neurocrine Biosciences currently has an average rating of “Moderate Buy” and an average price target of $175.25.

Insider Buying and Selling

In related news, Director George J. Morrow sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $143.37, for a total value of $2,150,550.00. Following the sale, the director directly owned 7,068 shares of the company’s stock, valued at $1,013,339.16. This trade represents a 67.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Leslie V. Norwalk sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $152.23, for a total transaction of $761,150.00. Following the completion of the transaction, the director directly owned 7,429 shares of the company’s stock, valued at approximately $1,130,916.67. This represents a 40.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 43,866 shares of company stock valued at $6,570,237 in the last 90 days. 4.30% of the stock is owned by company insiders.

Neurocrine Biosciences Stock Performance

Neurocrine Biosciences stock opened at $147.53 on Tuesday. Neurocrine Biosciences, Inc. has a fifty-two week low of $84.23 and a fifty-two week high of $160.18. The stock has a market cap of $14.71 billion, a P/E ratio of 35.29, a PEG ratio of 0.95 and a beta of 0.27. The firm’s fifty day moving average price is $146.37 and its 200-day moving average price is $138.28.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its earnings results on Tuesday, October 28th. The company reported $2.17 EPS for the quarter, topping the consensus estimate of $1.58 by $0.59. 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 during the quarter, compared to analysts’ expectations of $746.61 million. During the same period in the previous year, the business earned $1.81 earnings per share. The firm’s revenue was up 27.8% on a year-over-year basis. Sell-side analysts predict that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.

Neurocrine Biosciences Company Profile

Neurocrine Biosciences (NASDAQ: NBIX) is a biopharmaceutical company based in San Diego, California, focused on developing treatments for neurological, endocrine and neuropsychiatric disorders. Since its founding in 1992, the company has pursued a research?driven strategy aimed at addressing unmet medical needs in movement disorders, reproductive health and central nervous system conditions. Neurocrine’s operations encompass drug discovery, clinical development and commercialization activities.

The company’s lead marketed product, Ingrezza™ (valbenazine), is indicated for the treatment of tardive dyskinesia, a movement disorder associated with long-term antipsychotic use.