Neurocrine Biosciences, Inc. $NBIX Shares Sold by Praxis Investment Management Inc.

Praxis Investment Management Inc. lessened its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 19.8% during the second quarter, Holdings Channel reports. The firm owned 2,800 shares of the company’s stock after selling 690 shares during the period. Praxis Investment Management Inc.’s holdings in Neurocrine Biosciences were worth $352,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in NBIX. Dodge & Cox boosted its holdings in shares of Neurocrine Biosciences by 83.5% in the 1st quarter. Dodge & Cox now owns 5,534,624 shares of the company’s stock valued at $612,129,000 after purchasing an additional 2,518,199 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Neurocrine Biosciences by 44.0% during the 1st quarter. Wellington Management Group LLP now owns 2,097,981 shares of the company’s stock valued at $232,037,000 after acquiring an additional 640,556 shares in the last quarter. Swedbank AB lifted its holdings in shares of Neurocrine Biosciences by 5,078.9% during the 1st quarter. Swedbank AB now owns 429,697 shares of the company’s stock valued at $47,524,000 after acquiring an additional 421,400 shares in the last quarter. Braidwell LP lifted its holdings 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 acquiring an additional 290,135 shares in the last quarter. Finally, Nuveen LLC acquired a new position in shares of Neurocrine Biosciences during the 1st quarter valued at $31,686,000. Institutional investors and hedge funds own 92.59% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on NBIX shares. Wall Street Zen upgraded shares of Neurocrine Biosciences from a “hold” rating to a “strong-buy” rating in a report on Saturday, August 2nd. 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. Piper Sandler lifted their target price on shares of Neurocrine Biosciences from $154.00 to $175.00 and gave the company an “overweight” rating in a report on Thursday, July 31st. Morgan Stanley lifted 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, Needham & Company LLC lifted their target price on shares of Neurocrine Biosciences from $161.00 to $170.00 and gave the company a “buy” rating in a report on Monday, September 22nd. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $163.44.

Insider Buying and Selling at Neurocrine Biosciences

In other 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 value of $13,440,164.02. Following the completion of the sale, the director owned 514,596 shares of the company’s stock, valued at approximately $65,050,080.36. The trade was a 17.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.80% of the company’s stock.

Neurocrine Biosciences Price Performance

Neurocrine Biosciences stock opened at $140.09 on Friday. Neurocrine Biosciences, Inc. has a 12-month low of $84.23 and a 12-month high of $154.61. The company has a market capitalization of $13.89 billion, a price-to-earnings ratio of 41.45, a price-to-earnings-growth ratio of 1.01 and a beta of 0.21. The firm’s fifty day moving average price is $138.65 and its 200 day moving average price is $126.08.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings results on Wednesday, July 30th. The company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.08. The firm had revenue of $687.50 million for the quarter, compared to the consensus estimate of $653.09 million. Neurocrine Biosciences had a net margin of 13.88% and a return on equity of 13.22%. The firm’s quarterly revenue was up 16.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.63 EPS. Analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

Neurocrine Biosciences 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.