abrdn plc Sells 24,723 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

abrdn plc reduced its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 15.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 136,424 shares of the company’s stock after selling 24,723 shares during the quarter. abrdn plc owned about 0.14% of Neurocrine Biosciences worth $15,719,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NBIX. 1832 Asset Management L.P. boosted its stake in shares of Neurocrine Biosciences by 1,370.7% in the 2nd quarter. 1832 Asset Management L.P. now owns 541,200 shares of the company’s stock valued at $74,507,000 after purchasing an additional 504,400 shares during the last quarter. AQR Capital Management LLC boosted its position in Neurocrine Biosciences by 23.0% during the second quarter. AQR Capital Management LLC now owns 1,223,055 shares of the company’s stock valued at $166,959,000 after acquiring an additional 228,444 shares during the last quarter. Vanguard Group Inc. boosted its position in Neurocrine Biosciences by 2.3% during the first quarter. Vanguard Group Inc. now owns 9,930,926 shares of the company’s stock valued at $1,369,673,000 after acquiring an additional 220,598 shares during the last quarter. Iron Triangle Partners LP acquired a new stake in Neurocrine Biosciences during the 1st quarter worth about $30,342,000. Finally, Renaissance Technologies LLC raised its position in shares of Neurocrine Biosciences by 9.6% in the 2nd quarter. Renaissance Technologies LLC now owns 2,468,146 shares of the company’s stock worth $339,790,000 after acquiring an additional 216,500 shares in the last quarter. 92.59% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Neurocrine Biosciences news, Director Gary A. Lyons sold 11,570 shares of the company’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $150.43, for a total value of $1,740,475.10. Following the completion of the transaction, the director now owns 119,047 shares in the company, valued at $17,908,240.21. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Neurocrine Biosciences news, Director Gary A. Lyons sold 11,570 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $150.43, for a total value of $1,740,475.10. Following the transaction, the director now directly owns 119,047 shares in the company, valued at $17,908,240.21. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Matt Abernethy sold 14,100 shares of the firm’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 sale, the chief financial officer now owns 31,528 shares of the company’s stock, valued at approximately $4,741,180.64. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,336 shares of company stock worth $7,063,652. 4.30% of the stock is owned by company insiders.

Neurocrine Biosciences Price Performance

Shares of NBIX stock opened at $122.21 on Friday. The firm has a 50-day moving average of $119.77 and a 200-day moving average of $133.49. Neurocrine Biosciences, Inc. has a one year low of $103.63 and a one year high of $157.98. The company has a market cap of $12.34 billion, a P/E ratio of 32.76 and a beta of 0.36.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $1.24 EPS for the quarter, missing the consensus estimate of $1.47 by ($0.23). Neurocrine Biosciences had a net margin of 17.21% and a return on equity of 15.68%. The firm had revenue of $622.10 million during the quarter, compared to analysts’ expectations of $604.11 million. As a group, research analysts expect that Neurocrine Biosciences, Inc. will post 4.37 earnings per share for the current fiscal year.

Analysts Set New Price Targets

NBIX has been the subject of several recent analyst reports. Robert W. Baird raised their target price on Neurocrine Biosciences from $157.00 to $180.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. raised their price objective on shares of Neurocrine Biosciences from $173.00 to $181.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. Needham & Company LLC reiterated a “hold” rating on shares of Neurocrine Biosciences in a research report on Tuesday. BMO Capital Markets reduced their price target on shares of Neurocrine Biosciences from $128.00 to $114.00 and set a “market perform” rating for the company in a report on Thursday, October 17th. Finally, Raymond James reaffirmed an “outperform” rating and issued a $155.00 price target on shares of Neurocrine Biosciences in a research note on Thursday, October 10th. Five research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $163.91.

Neurocrine Biosciences Company 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.