2Xideas AG Has $8.52 Million Stake in Neurocrine Biosciences, Inc. $NBIX

2Xideas AG reduced its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 6.5% in the 2nd quarter, Holdings Channel reports. The firm owned 67,813 shares of the company’s stock after selling 4,696 shares during the quarter. Neurocrine Biosciences accounts for 1.5% of 2Xideas AG’s investment portfolio, making the stock its 18th largest holding. 2Xideas AG’s holdings in Neurocrine Biosciences were worth $8,523,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NBIX. Geneos Wealth Management Inc. increased its stake in shares of Neurocrine Biosciences by 143.6% in the first quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock valued at $25,000 after buying an additional 135 shares during the period. WPG Advisers LLC acquired a new position in shares of Neurocrine Biosciences in the first quarter worth approximately $32,000. SVB Wealth LLC bought a new stake in Neurocrine Biosciences in the first quarter valued at approximately $35,000. MAI Capital Management increased its position in Neurocrine Biosciences by 101.2% during the 2nd quarter. MAI Capital Management now owns 328 shares of the company’s stock valued at $41,000 after purchasing an additional 165 shares during the period. Finally, True Wealth Design LLC increased its position in Neurocrine Biosciences by 1,215.4% during the 2nd quarter. True Wealth Design LLC now owns 342 shares of the company’s stock valued at $43,000 after purchasing an additional 316 shares during the period. 92.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Zacks Research upgraded shares of Neurocrine Biosciences from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 15th. Truist Financial reissued a “buy” rating and set a $172.00 target price (up previously from $165.00) on shares of Neurocrine Biosciences in a research note on Thursday, October 30th. UBS Group upped their price target on shares of Neurocrine Biosciences from $188.00 to $195.00 and gave the company a “buy” rating in a research report on Thursday, October 9th. JPMorgan Chase & Co. lifted their price objective on Neurocrine Biosciences from $171.00 to $179.00 and gave the stock an “overweight” rating in a research report on Monday, November 3rd. Finally, Piper Sandler boosted their price objective on Neurocrine Biosciences from $175.00 to $179.00 and gave the company an “overweight” rating in a research note on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $173.00.

Insider Transactions at Neurocrine Biosciences

In other Neurocrine Biosciences news, Director William H. Rastetter sold 18,000 shares of the business’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $151.82, for a total transaction of $2,732,760.00. Following the completion of the sale, the director owned 40,360 shares in the company, valued at approximately $6,127,455.20. The trade was a 30.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director George J. Morrow sold 15,000 shares of the company’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $143.37, for a total transaction of $2,150,550.00. Following the transaction, the director owned 7,068 shares in the company, valued at approximately $1,013,339.16. The trade was a 67.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 33,300 shares of company stock valued at $4,925,901 over the last ninety days. 4.30% of the stock is owned by company insiders.

Neurocrine Biosciences Price Performance

Shares of NBIX opened at $154.99 on Tuesday. Neurocrine Biosciences, Inc. has a one year low of $84.23 and a one year high of $160.18. The company has a market cap of $15.45 billion, a PE ratio of 37.08, a P/E/G ratio of 1.02 and a beta of 0.27. The stock has a 50-day moving average of $144.01 and a 200-day moving average of $136.41.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings results on Tuesday, October 28th. The company reported $2.17 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.59. The business had revenue of $794.90 million for the quarter, compared to the consensus estimate of $746.61 million. Neurocrine Biosciences had a return on equity of 15.82% and a net margin of 15.95%.The firm’s revenue for the quarter was up 27.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.81 EPS. Analysts expect 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.