Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lessened its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 2.9% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 689,986 shares of the company’s stock after selling 20,614 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Neurocrine Biosciences were worth $79,500,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC lifted its holdings in Neurocrine Biosciences by 0.6% during the first quarter. Commonwealth Equity Services LLC now owns 13,941 shares of the company’s stock valued at $1,923,000 after purchasing an additional 84 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of Neurocrine Biosciences by 0.8% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 11,436 shares of the company’s stock worth $1,574,000 after buying an additional 90 shares in the last quarter. Fifth Third Bancorp lifted its stake in shares of Neurocrine Biosciences by 14.7% in the second quarter. Fifth Third Bancorp now owns 716 shares of the company’s stock worth $99,000 after buying an additional 92 shares in the last quarter. Total Clarity Wealth Management Inc. lifted its stake in shares of Neurocrine Biosciences by 4.3% in the second quarter. Total Clarity Wealth Management Inc. now owns 2,433 shares of the company’s stock worth $335,000 after buying an additional 100 shares in the last quarter. Finally, Park Avenue Securities LLC lifted its stake in shares of Neurocrine Biosciences by 1.1% in the first quarter. Park Avenue Securities LLC now owns 9,570 shares of the company’s stock worth $1,320,000 after buying an additional 101 shares in the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

Neurocrine Biosciences Stock Performance

Shares of NBIX stock opened at $118.01 on Monday. The stock has a market capitalization of $11.88 billion, a P/E ratio of 32.51 and a beta of 0.36. The company has a 50 day moving average price of $126.01 and a 200 day moving average price of $134.78. Neurocrine Biosciences, Inc. has a fifty-two week low of $103.63 and a fifty-two week high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.52). The business had revenue of $590.20 million during the quarter, compared to analyst estimates of $545.98 million. Neurocrine Biosciences had a net margin of 16.00% and a return on equity of 14.86%. The company’s revenue for the quarter was up 30.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.95 EPS. On average, research analysts forecast that Neurocrine Biosciences, Inc. will post 4.19 EPS for the current fiscal year.

Insider Activity at Neurocrine Biosciences

In related news, CFO Matt Abernethy sold 14,100 shares of Neurocrine Biosciences stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $150.38, for a total value of $2,120,358.00. Following the completion of the transaction, the chief financial officer now owns 31,528 shares in the company, valued at approximately $4,741,180.64. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Neurocrine Biosciences news, Director William H. Rastetter sold 14,250 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $146.69, for a total transaction of $2,090,332.50. Following the completion of the transaction, the director now owns 37,491 shares in the company, valued at $5,499,554.79. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Matt Abernethy sold 14,100 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $150.38, for a total transaction of $2,120,358.00. Following the transaction, the chief financial officer now owns 31,528 shares of the company’s stock, valued at $4,741,180.64. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 59,968 shares of company stock worth $8,999,632. Corporate insiders own 4.30% of the company’s stock.

Analyst Upgrades and Downgrades

NBIX has been the topic of several research reports. Jefferies Financial Group raised their price target on shares of Neurocrine Biosciences from $177.00 to $189.00 and gave the stock a “buy” rating in a research note on Monday, August 19th. Needham & Company LLC reissued a “hold” rating on shares of Neurocrine Biosciences in a research note on Thursday, August 29th. Cantor Fitzgerald reissued an “overweight” rating and issued a $155.00 price target on shares of Neurocrine Biosciences in a research note on Monday, September 16th. Royal Bank of Canada decreased their price target on shares of Neurocrine Biosciences from $136.00 to $133.00 and set a “sector perform” rating on the stock in a research note on Friday, October 4th. Finally, Oppenheimer lifted their target price on shares of Neurocrine Biosciences from $216.00 to $219.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Five analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Neurocrine Biosciences presently has a consensus rating of “Moderate Buy” and a consensus target price of $163.91.

Neurocrine Biosciences 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.