Allianz Asset Management GmbH Sells 52,518 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Allianz Asset Management GmbH trimmed its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIXFree Report) by 63.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,608 shares of the company’s stock after selling 52,518 shares during the quarter. Allianz Asset Management GmbH’s holdings in Neurocrine Biosciences were worth $3,901,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. DSM Capital Partners LLC raised its holdings in Neurocrine Biosciences by 15.4% during the 3rd quarter. DSM Capital Partners LLC now owns 1,224,017 shares of the company’s stock worth $137,702,000 after purchasing an additional 163,747 shares during the last quarter. Brown Advisory Inc. lifted its holdings in Neurocrine Biosciences by 2.2% in the fourth quarter. Brown Advisory Inc. now owns 1,113,413 shares of the company’s stock valued at $146,703,000 after buying an additional 23,831 shares during the period. Braidwell LP lifted its holdings in Neurocrine Biosciences by 3.7% in the third quarter. Braidwell LP now owns 968,024 shares of the company’s stock valued at $108,903,000 after buying an additional 34,662 shares during the period. Los Angeles Capital Management LLC grew its holdings in Neurocrine Biosciences by 66.0% during the 4th quarter. Los Angeles Capital Management LLC now owns 918,391 shares of the company’s stock worth $121,007,000 after acquiring an additional 364,986 shares during the period. Finally, Jacobs Levy Equity Management Inc. raised its position in shares of Neurocrine Biosciences by 59.0% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 692,374 shares of the company’s stock worth $77,892,000 after acquiring an additional 256,920 shares in the last quarter. 92.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on NBIX. JPMorgan Chase & Co. upped their target price on Neurocrine Biosciences from $148.00 to $158.00 and gave the company an “overweight” rating in a research report on Wednesday, March 20th. Canaccord Genuity Group lifted their price objective on shares of Neurocrine Biosciences from $154.00 to $164.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. HC Wainwright boosted their target price on shares of Neurocrine Biosciences from $150.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Oppenheimer raised their price target on shares of Neurocrine Biosciences from $200.00 to $216.00 and gave the stock an “outperform” rating in a report on Thursday, May 2nd. Finally, Wedbush reiterated an “outperform” rating and set a $152.00 price objective on shares of Neurocrine Biosciences in a report on Wednesday, May 29th. Six equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $150.85.

View Our Latest Research Report on Neurocrine Biosciences

Insider Buying and Selling at Neurocrine Biosciences

In other news, insider Ingrid Delaet sold 200 shares of Neurocrine Biosciences 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 transaction, the insider now directly owns 7,507 shares in the company, valued at $1,050,980. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Stephen A. Sherwin sold 40,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $133.46, for a total transaction of $5,338,400.00. Following the sale, the director now owns 26,504 shares of the company’s stock, valued at approximately $3,537,223.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ingrid Delaet sold 200 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $140.00, for a total transaction of $28,000.00. Following the completion of the transaction, the insider now directly 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 208,997 shares of company stock valued at $28,773,215 in the last 90 days. 4.30% of the stock is currently owned by company insiders.

Neurocrine Biosciences Stock Performance

Shares of Neurocrine Biosciences stock opened at $133.07 on Friday. The stock has a market capitalization of $13.39 billion, a P/E ratio of 36.66 and a beta of 0.36. Neurocrine Biosciences, Inc. has a 52-week low of $92.61 and a 52-week high of $148.37. The stock’s 50-day simple moving average is $137.93 and its 200 day simple moving average is $133.43.

Neurocrine Biosciences (NASDAQ:NBIXGet Free Report) last posted its quarterly earnings results 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). The business had revenue of $515.30 million during the quarter, compared to the consensus estimate of $512.21 million. Neurocrine Biosciences had a net margin of 18.65% and a return on equity of 17.45%. Equities research analysts forecast that Neurocrine Biosciences, Inc. will post 4.19 EPS for the current fiscal year.

About Neurocrine Biosciences

(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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