Mission Wealth Management LP Trims Stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Mission Wealth Management LP decreased its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 45.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,800 shares of the company’s stock after selling 1,525 shares during the period. Mission Wealth Management LP’s holdings in Neurocrine Biosciences were worth $237,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in NBIX. DSM Capital Partners LLC boosted its position in Neurocrine Biosciences by 15.4% during the third quarter. DSM Capital Partners LLC now owns 1,224,017 shares of the company’s stock worth $137,702,000 after acquiring an additional 163,747 shares during the last quarter. Braidwell LP lifted its position in Neurocrine Biosciences by 3.7% during the third quarter. Braidwell LP now owns 968,024 shares of the company’s stock worth $108,903,000 after buying an additional 34,662 shares during the period. Jacobs Levy Equity Management Inc. grew its holdings in Neurocrine Biosciences by 59.0% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 692,374 shares of the company’s stock valued at $77,892,000 after buying an additional 256,920 shares during the period. Westfield Capital Management Co. LP increased its stake in shares of Neurocrine Biosciences by 73.0% during the 3rd quarter. Westfield Capital Management Co. LP now owns 649,292 shares of the company’s stock valued at $73,045,000 after acquiring an additional 273,952 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Neurocrine Biosciences by 3.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 623,267 shares of the company’s stock worth $70,118,000 after acquiring an additional 18,334 shares during the period. 92.59% of the stock is owned by institutional investors and hedge funds.

Neurocrine Biosciences Stock Performance

Shares of NBIX stock opened at $140.71 on Friday. The stock has a market capitalization of $14.16 billion, a price-to-earnings ratio of 38.76 and a beta of 0.28. Neurocrine Biosciences, Inc. has a one year low of $89.04 and a one year high of $148.37. The company’s 50-day simple moving average is $137.37 and its 200-day simple moving average is $128.78.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its earnings results on Wednesday, February 7th. The company reported $1.44 EPS for the quarter, topping the consensus estimate of $1.13 by $0.31. The company had revenue of $515.20 million during the quarter, compared to analyst estimates of $518.52 million. Neurocrine Biosciences had a return on equity of 17.45% and a net margin of 18.65%. The business’s revenue was up 25.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.88 EPS. As a group, research analysts forecast that Neurocrine Biosciences, Inc. will post 4.79 EPS for the current year.

Analyst Ratings Changes

A number of research firms have weighed in on NBIX. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $155.00 price target on shares of Neurocrine Biosciences in a research note on Wednesday, April 10th. The Goldman Sachs Group upped their price target on Neurocrine Biosciences from $134.00 to $153.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Oppenheimer raised their price objective on Neurocrine Biosciences from $200.00 to $216.00 and gave the stock an “outperform” rating in a report on Thursday. Wedbush reissued an “outperform” rating and set a $147.00 target price on shares of Neurocrine Biosciences in a research report on Wednesday, April 17th. Finally, Needham & Company LLC restated a “hold” rating on shares of Neurocrine Biosciences in a report on Wednesday. Six analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, Neurocrine Biosciences presently has an average rating of “Moderate Buy” and an average price target of $147.88.

Insiders Place Their Bets

In other news, insider David W. Boyer sold 456 shares of Neurocrine Biosciences stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $141.96, for a total value of $64,733.76. Following the completion of the transaction, the insider now directly owns 4,894 shares of the company’s stock, valued at approximately $694,752.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Neurocrine Biosciences news, insider Eric Benevich sold 75,000 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $139.38, for a total value of $10,453,500.00. Following the sale, the insider now directly owns 40,778 shares in the company, valued at $5,683,637.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider David W. Boyer sold 456 shares of the business’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $141.96, for a total transaction of $64,733.76. Following the transaction, the insider now directly owns 4,894 shares of the company’s stock, valued at approximately $694,752.24. The disclosure for this sale can be found here. Over the last three months, insiders have sold 181,547 shares of company stock valued at $25,039,887. Company insiders own 4.30% of the company’s stock.

About Neurocrine Biosciences

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.