PNC Financial Services Group Inc. Decreases Stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

PNC Financial Services Group Inc. lessened its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIXFree Report) by 11.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,247 shares of the company’s stock after selling 401 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Neurocrine Biosciences were worth $428,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. DSM Capital Partners LLC increased its holdings in Neurocrine Biosciences by 15.4% in the third quarter. DSM Capital Partners LLC now owns 1,224,017 shares of the company’s stock valued at $137,702,000 after buying an additional 163,747 shares in the last quarter. Brown Advisory Inc. raised its holdings in Neurocrine Biosciences by 2.2% during the fourth quarter. Brown Advisory Inc. now owns 1,113,413 shares of the company’s stock worth $146,703,000 after purchasing an additional 23,831 shares during the last quarter. Braidwell LP boosted its position in Neurocrine Biosciences by 3.7% during the third quarter. Braidwell LP now owns 968,024 shares of the company’s stock worth $108,903,000 after purchasing an additional 34,662 shares in the last quarter. Los Angeles Capital Management LLC boosted its position in Neurocrine Biosciences by 66.0% during the fourth quarter. Los Angeles Capital Management LLC now owns 918,391 shares of the company’s stock worth $121,007,000 after purchasing an additional 364,986 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its holdings in Neurocrine Biosciences by 59.0% in the third 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 last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Neurocrine Biosciences Stock Performance

NBIX opened at $139.92 on Tuesday. Neurocrine Biosciences, Inc. has a 1 year low of $91.29 and a 1 year high of $148.37. The firm has a 50 day moving average price of $138.26 and a 200 day moving average price of $133.26. The company has a market cap of $14.08 billion, a PE ratio of 38.55 and a beta of 0.36.

Neurocrine Biosciences (NASDAQ:NBIXGet Free Report) last released its quarterly earnings data on Wednesday, May 1st. The company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.62). Neurocrine Biosciences had a return on equity of 17.45% and a net margin of 18.65%. The business had revenue of $515.30 million for the quarter, compared to analysts’ expectations of $512.21 million. On average, sell-side analysts predict that Neurocrine Biosciences, Inc. will post 4.19 earnings per share for the current year.

Analyst Ratings Changes

NBIX has been the topic of several recent research reports. JPMorgan Chase & Co. boosted their price objective on shares of Neurocrine Biosciences from $148.00 to $158.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 20th. Evercore ISI started coverage on shares of Neurocrine Biosciences in a research note on Tuesday, May 14th. They set an “outperform” rating and a $175.00 price objective for the company. Oppenheimer lifted their price objective on Neurocrine Biosciences from $200.00 to $216.00 and gave the stock an “outperform” rating in a research report on Thursday, May 2nd. Citigroup increased their target price on Neurocrine Biosciences from $140.00 to $150.00 and gave the company a “neutral” rating in a report on Friday, May 3rd. Finally, Wedbush reissued an “outperform” rating and issued a $152.00 price target on shares of Neurocrine Biosciences in a report on Wednesday, May 29th. Six research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $150.85.

Read Our Latest Report on Neurocrine Biosciences

Insider Buying and Selling

In other Neurocrine Biosciences news, insider Eric Benevich sold 75,000 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $139.38, for a total value of $10,453,500.00. Following the transaction, the insider now directly owns 40,778 shares of the company’s stock, valued at $5,683,637.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Neurocrine Biosciences news, insider Eric Benevich sold 75,000 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $139.38, for a total value of $10,453,500.00. Following the completion of the sale, the insider now owns 40,778 shares of the company’s stock, valued at $5,683,637.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ingrid Delaet sold 1,800 shares of Neurocrine Biosciences stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $140.03, for a total transaction of $252,054.00. Following the sale, the insider now owns 7,507 shares in the company, valued at approximately $1,051,205.21. The disclosure for this sale can be found here. In the last three months, insiders sold 212,497 shares of company stock valued at $29,263,354. Company insiders own 4.30% of the company’s stock.

Neurocrine Biosciences Company Profile

(Free Report)

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.

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

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