Peregrine Capital Management LLC Trims Holdings in Neurocrine Biosciences, Inc. $NBIX

Peregrine Capital Management LLC lowered its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 8.1% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 67,069 shares of the company’s stock after selling 5,903 shares during the quarter. Peregrine Capital Management LLC’s holdings in Neurocrine Biosciences were worth $8,430,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of NBIX. Golden State Wealth Management LLC raised its position in Neurocrine Biosciences by 116.9% during the 1st quarter. Golden State Wealth Management LLC now owns 397 shares of the company’s stock worth $44,000 after buying an additional 214 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its stake in shares of Neurocrine Biosciences by 10.8% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 16,220 shares of the company’s stock worth $1,794,000 after purchasing an additional 1,586 shares during the period. Smallwood Wealth Investment Management LLC acquired a new position in shares of Neurocrine Biosciences during the 1st quarter worth $34,000. Vontobel Holding Ltd. grew its stake in shares of Neurocrine Biosciences by 17.8% during the 1st quarter. Vontobel Holding Ltd. now owns 9,943 shares of the company’s stock worth $1,100,000 after purchasing an additional 1,501 shares during the period. Finally, GF Fund Management CO. LTD. grew its stake in shares of Neurocrine Biosciences by 22.0% during the 1st quarter. GF Fund Management CO. LTD. now owns 2,593 shares of the company’s stock worth $287,000 after purchasing an additional 467 shares during the period. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Wall Street Analyst Weigh In

NBIX has been the topic of a number of recent analyst reports. The Goldman Sachs Group initiated coverage on shares of Neurocrine Biosciences in a research note on Thursday, July 10th. They set a “buy” rating and a $182.00 price target on the stock. Wall Street Zen raised shares of Neurocrine Biosciences from a “hold” rating to a “strong-buy” rating in a research note on Saturday, August 2nd. UBS Group increased their price objective on shares of Neurocrine Biosciences from $188.00 to $195.00 and gave the company a “buy” rating in a research note on Thursday, October 9th. Piper Sandler increased their price objective on shares of Neurocrine Biosciences from $154.00 to $175.00 and gave the company an “overweight” rating in a research note on Thursday, July 31st. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Neurocrine Biosciences in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $164.32.

Insider Transactions at Neurocrine Biosciences

In other Neurocrine Biosciences news, Director Kevin Charles Gorman sold 106,322 shares of the company’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 transaction, the director directly owned 514,596 shares in the company, valued at approximately $65,050,080.36. This represents a 17.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 4.30% of the company’s stock.

Neurocrine Biosciences Trading Up 3.4%

NASDAQ:NBIX opened at $148.94 on Tuesday. The firm has a market cap of $14.77 billion, a price-to-earnings ratio of 44.07, a price-to-earnings-growth ratio of 0.98 and a beta of 0.21. The company’s 50-day moving average is $140.25 and its two-hundred day moving average is $128.40. Neurocrine Biosciences, Inc. has a 12-month low of $84.23 and a 12-month high of $154.61.

Neurocrine Biosciences (NASDAQ:NBIX) last released its earnings results on Wednesday, July 30th. The company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.08. The company had revenue of $687.50 million for the quarter, compared to analyst estimates 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 period in the prior year, the firm earned $1.63 EPS. On average, equities research analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

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.