Voya Investment Management LLC Trims Stock Holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Voya Investment Management LLC reduced its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 11.0% in the third quarter, Holdings Channel.com reports. The fund owned 44,996 shares of the company’s stock after selling 5,578 shares during the quarter. Voya Investment Management LLC’s holdings in Neurocrine Biosciences were worth $4,055,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of NBIX. Lisanti Capital Growth LLC bought a new position in Neurocrine Biosciences in the 3rd quarter valued at $817,000. EFG Asset Management Americas Corp. bought a new position in Neurocrine Biosciences in the 3rd quarter worth about $2,203,000. Cookson Peirce & Co. Inc. purchased a new position in shares of Neurocrine Biosciences during the third quarter worth approximately $525,000. GW&K Investment Management LLC increased its position in shares of Neurocrine Biosciences by 26.2% during the third quarter. GW&K Investment Management LLC now owns 297,228 shares of the company’s stock worth $26,783,000 after acquiring an additional 61,645 shares during the period. Finally, Tocqueville Asset Management L.P. increased its position in shares of Neurocrine Biosciences by 30.5% during the third quarter. Tocqueville Asset Management L.P. now owns 19,255 shares of the company’s stock worth $1,735,000 after acquiring an additional 4,500 shares during the period. 97.13% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ NBIX opened at $116.81 on Friday. The company has a current ratio of 7.08, a quick ratio of 6.99 and a debt-to-equity ratio of 0.83. The stock has a market capitalization of $10.76 billion, a PE ratio of 530.95, a price-to-earnings-growth ratio of 5.90 and a beta of 1.24. The stock’s fifty day simple moving average is $107.65 and its two-hundred day simple moving average is $94.38. Neurocrine Biosciences, Inc. has a 12-month low of $64.72 and a 12-month high of $119.65.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.56 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.63 by ($0.07). The company had revenue of $222.09 million during the quarter, compared to analysts’ expectations of $211.31 million. Neurocrine Biosciences had a net margin of 3.12% and a return on equity of 5.67%. The company’s revenue was up 46.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.52 earnings per share. On average, equities analysts predict that Neurocrine Biosciences, Inc. will post 0.82 earnings per share for the current fiscal year.

In related news, insider Malcolm Lloyd-Smith sold 9,956 shares of the stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $90.85, for a total transaction of $904,502.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Julie Cooke sold 987 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $88.56, for a total transaction of $87,408.72. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 47,776 shares of company stock worth $4,936,638. 4.30% of the stock is owned by corporate insiders.

NBIX has been the subject of a number of research reports. BidaskClub upgraded Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a report on Thursday. ValuEngine downgraded Neurocrine Biosciences from a “hold” rating to a “sell” rating in a report on Thursday, November 14th. TheStreet raised Neurocrine Biosciences from a “c+” rating to a “b” rating in a research report on Tuesday, November 19th. Royal Bank of Canada set a $118.00 target price on Neurocrine Biosciences and gave the stock a “buy” rating in a report on Friday, September 6th. Finally, Zacks Investment Research downgraded Neurocrine Biosciences from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $105.72.

Neurocrine Biosciences Profile

Neurocrine Biosciences, Inc discovers and develops pharmaceuticals for the treatment of neurological and endocrine-related diseases and disorders in the United States. The company offers INGREZZA (valbenazine), a vesicular monoamine transporter 2 inhibitor (VMAT2), which is used for the treatment of movement disorders; ORILISSA, a gonadotropin-releasing hormone (GnRH) antagonist for use in women's health.

Further Reading: Retained Earnings

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Institutional Ownership by Quarter for Neurocrine Biosciences (NASDAQ:NBIX)

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