S Bank Fund Management Ltd Lowers Stake in Neurocrine Biosciences, Inc. $NBIX

S Bank Fund Management Ltd lowered its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 25.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 965 shares of the company’s stock after selling 327 shares during the quarter. S Bank Fund Management Ltd’s holdings in Neurocrine Biosciences were worth $121,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in NBIX. Farther Finance Advisors LLC grew its holdings in shares of Neurocrine Biosciences by 39.1% during the 1st quarter. Farther Finance Advisors LLC now owns 686 shares of the company’s stock valued at $73,000 after purchasing an additional 193 shares during the last quarter. Fifth Third Bancorp grew its holdings in shares of Neurocrine Biosciences by 31.7% during the 1st quarter. Fifth Third Bancorp now owns 1,056 shares of the company’s stock valued at $117,000 after purchasing an additional 254 shares during the last quarter. Mission Wealth Management LP grew its holdings in shares of Neurocrine Biosciences by 22.1% during the 1st quarter. Mission Wealth Management LP now owns 2,210 shares of the company’s stock valued at $244,000 after purchasing an additional 400 shares during the last quarter. Sowell Financial Services LLC bought a new position in shares of Neurocrine Biosciences during the 1st quarter valued at $529,000. Finally, QRG Capital Management Inc. grew its holdings in shares of Neurocrine Biosciences by 7.1% during the 1st quarter. QRG Capital Management Inc. now owns 20,062 shares of the company’s stock valued at $2,219,000 after purchasing an additional 1,330 shares during the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Insider Activity

In related news, Director Kevin Charles Gorman sold 106,322 shares of the business’s stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $126.41, for a total transaction of $13,440,164.02. Following the transaction, the director owned 514,596 shares in the company, valued at $65,050,080.36. The trade was a 17.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.80% of the stock is owned by corporate insiders.

Neurocrine Biosciences Stock Down 0.2%

Shares of Neurocrine Biosciences stock opened at $137.52 on Friday. The firm has a market cap of $13.64 billion, a PE ratio of 40.69, a price-to-earnings-growth ratio of 0.99 and a beta of 0.21. Neurocrine Biosciences, Inc. has a 12-month low of $84.23 and a 12-month high of $154.61. The company’s fifty day simple moving average is $138.35 and its two-hundred day simple moving average is $125.73.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its earnings results on Wednesday, July 30th. The company reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.08. Neurocrine Biosciences had a net margin of 13.88% and a return on equity of 13.22%. The firm had revenue of $687.50 million for the quarter, compared to analyst estimates of $653.09 million. During the same quarter in the previous year, the firm posted $1.63 EPS. The company’s revenue for the quarter was up 16.5% compared to the same quarter last year. As a group, sell-side analysts expect that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on NBIX shares. The Goldman Sachs Group started coverage on shares of Neurocrine Biosciences in a report on Thursday, July 10th. They set a “buy” rating and a $182.00 target price on the stock. Zacks Research raised shares of Neurocrine Biosciences from a “hold” rating to a “strong-buy” rating in a report on Wednesday. Truist Financial started coverage on shares of Neurocrine Biosciences in a report on Monday, July 21st. They set a “buy” rating and a $163.00 target price on the stock. Morgan Stanley increased their target price on shares of Neurocrine Biosciences from $158.00 to $163.00 and gave the company an “overweight” rating in a report on Friday, September 5th. Finally, Royal Bank Of Canada raised their price target on shares of Neurocrine Biosciences from $144.00 to $149.00 and gave the stock an “outperform” rating in a report on Friday, September 5th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $163.44.

Neurocrine Biosciences Company 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.