Distillate Capital Partners LLC Decreases Holdings in Neurocrine Biosciences, Inc. $NBIX

Distillate Capital Partners LLC reduced its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 22.4% in the 3rd quarter, HoldingsChannel reports. The fund owned 94,416 shares of the company’s stock after selling 27,198 shares during the quarter. Distillate Capital Partners LLC’s holdings in Neurocrine Biosciences were worth $13,262,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Geneos Wealth Management Inc. lifted its stake in Neurocrine Biosciences by 143.6% during the first quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock worth $25,000 after purchasing an additional 135 shares during the last quarter. Golden State Wealth Management LLC boosted its holdings in Neurocrine Biosciences by 120.5% in the third quarter. Golden State Wealth Management LLC now owns 183 shares of the company’s stock valued at $26,000 after purchasing an additional 100 shares in the last quarter. Eastern Bank purchased a new position in Neurocrine Biosciences in the third quarter valued at approximately $27,000. Quent Capital LLC purchased a new position in Neurocrine Biosciences in the third quarter valued at approximately $32,000. Finally, MAI Capital Management raised its holdings in Neurocrine Biosciences by 101.2% during the second quarter. MAI Capital Management now owns 328 shares of the company’s stock worth $41,000 after purchasing an additional 165 shares in the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Wall Street Analysts Forecast Growth

NBIX has been the subject of several recent analyst reports. BMO Capital Markets reduced their price objective on shares of Neurocrine Biosciences from $147.00 to $140.00 and set a “market perform” rating for the company in a research report on Thursday, February 12th. Wells Fargo & Company reduced their price target on shares of Neurocrine Biosciences from $180.00 to $175.00 and set an “overweight” rating for the company in a research report on Friday, February 13th. UBS Group decreased their price objective on shares of Neurocrine Biosciences from $188.00 to $178.00 and set a “buy” rating for the company in a research note on Friday, January 23rd. Zacks Research lowered Neurocrine Biosciences from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 17th. Finally, HC Wainwright cut their target price on Neurocrine Biosciences from $198.00 to $192.00 and set a “buy” rating on the stock in a research report on Thursday, February 12th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $175.10.

Neurocrine Biosciences Stock Performance

Shares of NBIX opened at $129.78 on Monday. Neurocrine Biosciences, Inc. has a fifty-two week low of $84.23 and a fifty-two week high of $160.18. The firm has a 50-day simple moving average of $133.08 and a 200-day simple moving average of $140.28. The company has a market capitalization of $13.02 billion, a price-to-earnings ratio of 27.85, a price-to-earnings-growth ratio of 0.68 and a beta of 0.32.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings data on Wednesday, February 11th. The company reported $1.88 EPS for the quarter, missing the consensus estimate of $2.36 by ($0.48). Neurocrine Biosciences had a net margin of 16.73% and a return on equity of 16.48%. The company had revenue of $805.50 million for the quarter, compared to analysts’ expectations of $804.21 million. During the same period in the prior year, the company earned $1.69 earnings per share. The firm’s revenue was up 28.3% on a year-over-year basis. Equities research analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

Insider Buying and Selling

In other news, Director Leslie V. Norwalk sold 1,190 shares of the company’s stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $155.09, for a total transaction of $184,557.10. Following the completion of the sale, the director owned 6,239 shares in the company, valued at $967,606.51. This represents a 16.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Kyle Gano sold 36,400 shares of the stock in a transaction on Friday, January 16th. The stock was sold at an average price of $132.70, for a total value of $4,830,280.00. Following the sale, the chief executive officer directly owned 140,407 shares of the company’s stock, valued at approximately $18,632,008.90. This represents a 20.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 4.30% of the company’s stock.

Neurocrine Biosciences Profile

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.