Focus Partners Advisor Solutions LLC Grows Stock Holdings in Neurocrine Biosciences, Inc. $NBIX

Focus Partners Advisor Solutions LLC lifted its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 152.5% in the third quarter, HoldingsChannel reports. The fund owned 13,263 shares of the company’s stock after buying an additional 8,011 shares during the period. Focus Partners Advisor Solutions LLC’s holdings in Neurocrine Biosciences were worth $1,945,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in NBIX. Royal Bank of Canada increased its stake in Neurocrine Biosciences by 36.7% in the 1st quarter. Royal Bank of Canada now owns 82,810 shares of the company’s stock worth $9,158,000 after purchasing an additional 22,224 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Neurocrine Biosciences by 60.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,783 shares of the company’s stock valued at $1,647,000 after acquiring an additional 5,577 shares in the last quarter. NewEdge Advisors LLC raised its holdings in shares of Neurocrine Biosciences by 56.3% during the first quarter. NewEdge Advisors LLC now owns 7,630 shares of the company’s stock valued at $844,000 after acquiring an additional 2,747 shares in the last quarter. Empowered Funds LLC bought a new position in Neurocrine Biosciences in the 1st quarter worth $1,333,000. Finally, Geneos Wealth Management Inc. lifted its position in shares of Neurocrine Biosciences by 143.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock worth $25,000 after purchasing an additional 135 shares during the period. Institutional investors own 92.59% of the company’s stock.

Wall Street Analyst Weigh In

NBIX has been the topic of a number of research reports. Zacks Research cut shares of Neurocrine Biosciences from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 17th. Wolfe Research started coverage on Neurocrine Biosciences in a report on Tuesday, February 24th. They issued an “outperform” rating and a $160.00 target price for the company. Royal Bank Of Canada reduced their price objective on Neurocrine Biosciences from $180.00 to $177.00 and set an “outperform” rating for the company in a report on Thursday, February 12th. HC Wainwright decreased their target price on Neurocrine Biosciences from $198.00 to $192.00 and set a “buy” rating for the company in a research report on Thursday, February 12th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Neurocrine Biosciences from $177.00 to $176.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 17th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $175.05.

Neurocrine Biosciences Trading Down 2.8%

NASDAQ:NBIX opened at $129.64 on Friday. The stock has a market capitalization of $13.01 billion, a P/E ratio of 27.82, a P/E/G ratio of 0.70 and a beta of 0.32. Neurocrine Biosciences, Inc. has a 12-month low of $84.23 and a 12-month high of $160.18. The stock has a 50-day moving average price of $134.66 and a 200 day moving average price of $140.44.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings results on Wednesday, February 11th. The company reported $1.88 earnings per share for the quarter, missing the consensus estimate of $2.36 by ($0.48). Neurocrine Biosciences had a net margin of 16.73% and a return on equity of 16.48%. The firm had revenue of $805.50 million for the quarter, compared to analysts’ expectations of $804.21 million. During the same quarter in the prior year, the business earned $1.69 EPS. The business’s quarterly revenue was up 28.3% compared to the same quarter last year. On average, research analysts predict that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

Insider Buying and Selling at Neurocrine Biosciences

In other news, CEO Kyle Gano sold 36,400 shares of the firm’s stock in a transaction that occurred on Friday, January 16th. The stock was sold at an average price of $132.70, for a total value of $4,830,280.00. Following the completion of the sale, the chief executive officer directly owned 140,407 shares of the company’s stock, valued at $18,632,008.90. This trade represents a 20.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Leslie V. Norwalk sold 1,190 shares of Neurocrine Biosciences stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $155.09, for a total transaction of $184,557.10. Following the transaction, the director directly owned 6,239 shares of the company’s stock, valued at approximately $967,606.51. This represents a 16.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 46,966 shares of company stock worth $6,474,616 over the last ninety days. Company insiders own 4.80% of the company’s stock.

About Neurocrine Biosciences

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.