Van ECK Associates Corp lowered its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX – Free Report) by 22.0% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 69,482 shares of the company’s stock after selling 19,577 shares during the quarter. Van ECK Associates Corp’s holdings in Neurocrine Biosciences were worth $11,710,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently bought and sold shares of the stock. Livforsakringsbolaget Skandia Omsesidigt bought a new position in shares of Neurocrine Biosciences in the second quarter worth about $3,117,000. Palo Alto Investors LP purchased a new position in shares of Neurocrine Biosciences in the second quarter worth $3,053,349. Empowered Funds LLC purchased a new stake in Neurocrine Biosciences in the 2nd quarter worth $2,330,000. United Capital Financial Advisors LLC bought a new position in Neurocrine Biosciences during the second quarter valued at approximately $259,000. Finally, Jefferies Financial Group Inc. bought a new position in shares of Neurocrine Biosciences during the 2nd quarter valued at approximately $1,792,000. 92.59% of the stock is owned by institutional investors.
Insider Buying and Selling at Neurocrine Biosciences
In related news, Director Leslie V. Norwalk sold 1,250 shares of the business’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $182.01, for a total transaction of $227,512.50. Following the completion of the transaction, the director directly owned 1,588 shares in the company, valued at $289,031.88. The trade was a 44.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Ingrid Delaet sold 8,433 shares of the business’s stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $178.72, for a total value of $1,507,145.76. Following the completion of the transaction, the insider directly owned 16,225 shares of the company’s stock, valued at approximately $2,899,732. This trade represents a 34.20% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 66,438 shares of company stock valued at $11,461,708. Company insiders own 4.60% of the company’s stock.
Wall Street Analyst Weigh In
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Neurocrine Biosciences Trading Down 0.0%
NASDAQ NBIX opened at $154.03 on Tuesday. The stock has a market cap of $15.66 billion, a P/E ratio of 22.59, a P/E/G ratio of 0.72 and a beta of 0.39. The company has a fifty day simple moving average of $166.62 and a two-hundred day simple moving average of $149.62. Neurocrine Biosciences, Inc. has a 12-month low of $122.14 and a 12-month high of $186.12.
Neurocrine Biosciences (NASDAQ:NBIX – Get Free Report) last posted its quarterly earnings results on Friday, July 31st. The company reported $2.85 earnings per share for the quarter, beating the consensus estimate of $1.65 by $1.20. Neurocrine Biosciences had a return on equity of 22.43% and a net margin of 20.91%.The business had revenue of $959.00 million for the quarter, compared to the consensus estimate of $891.16 million. During the same quarter in the previous year, the business earned $1.65 EPS. The company’s quarterly revenue was up 39.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Neurocrine Biosciences, Inc. will post 7.25 earnings per share for the current year.
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.
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