Truist Financial Corp Increases Holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Truist Financial Corp boosted its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 4.0% during the fourth quarter, Holdings Channel reports. The firm owned 37,195 shares of the company’s stock after acquiring an additional 1,423 shares during the quarter. Truist Financial Corp’s holdings in Neurocrine Biosciences were worth $4,901,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of NBIX. Assenagon Asset Management S.A. increased its holdings in Neurocrine Biosciences by 120.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 584,539 shares of the company’s stock valued at $65,761,000 after purchasing an additional 319,564 shares during the period. Westfield Capital Management Co. LP increased its holdings in 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 purchasing an additional 273,952 shares during the period. Jacobs Levy Equity Management Inc. increased its holdings in Neurocrine Biosciences by 59.0% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 692,374 shares of the company’s stock valued at $77,892,000 after purchasing an additional 256,920 shares during the period. Jennison Associates LLC grew its holdings in shares of Neurocrine Biosciences by 86.0% during the 3rd quarter. Jennison Associates LLC now owns 409,475 shares of the company’s stock worth $46,066,000 after acquiring an additional 189,345 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Neurocrine Biosciences by 81.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 410,103 shares of the company’s stock worth $54,035,000 after acquiring an additional 184,660 shares during the period. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Insider Activity

In other news, insider Eric Benevich sold 19,818 shares of the stock in a transaction on Monday, April 15th. The stock was sold at an average price of $133.36, for a total transaction of $2,642,928.48. Following the transaction, the insider now directly owns 40,778 shares of the company’s stock, valued at approximately $5,438,154.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Eric Benevich sold 19,818 shares of the company’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $133.36, for a total value of $2,642,928.48. Following the completion of the sale, the insider now directly owns 40,778 shares in the company, valued at approximately $5,438,154.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ingrid Delaet sold 200 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $140.00, for a total value of $28,000.00. Following the completion of the sale, the insider now owns 7,507 shares of the company’s stock, valued at $1,050,980. The disclosure for this sale can be found here. Insiders have sold 181,547 shares of company stock valued at $25,039,887 in the last ninety days. 4.30% of the stock is currently owned by company insiders.

Neurocrine Biosciences Price Performance

NASDAQ NBIX opened at $140.71 on Monday. The business’s fifty day moving average price is $137.37 and its 200-day moving average price is $129.00. 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 1-year low of $89.04 and a 1-year high of $148.37.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings results on Wednesday, February 7th. The company reported $1.44 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.31. The firm had revenue of $515.20 million for the quarter, compared to analysts’ expectations of $518.52 million. Neurocrine Biosciences had a return on equity of 17.45% and a net margin of 18.65%. The company’s revenue was up 25.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.88 EPS. Equities research analysts anticipate that Neurocrine Biosciences, Inc. will post 4.78 EPS for the current year.

Analyst Upgrades and Downgrades

NBIX has been the topic of a number of research analyst reports. Barclays upped their target price on Neurocrine Biosciences from $150.00 to $169.00 and gave the stock an “overweight” rating in a report on Thursday. Needham & Company LLC reiterated a “hold” rating on shares of Neurocrine Biosciences in a report on Wednesday, May 1st. JPMorgan Chase & Co. upped their target price on Neurocrine Biosciences from $148.00 to $158.00 and gave the stock an “overweight” rating in a report on Wednesday, March 20th. StockNews.com downgraded Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a report on Thursday. Finally, Oppenheimer upped their price target on Neurocrine Biosciences from $200.00 to $216.00 and gave the stock an “outperform” rating in a research note on Thursday. Six analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $147.88.

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.