Prudential PLC Sells 606 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Prudential PLC reduced its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIXFree Report) by 3.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,931 shares of the company’s stock after selling 606 shares during the quarter. Prudential PLC’s holdings in Neurocrine Biosciences were worth $2,626,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. FCF Advisors LLC purchased a new position in Neurocrine Biosciences in the 4th quarter worth about $1,157,000. Norges Bank bought a new position in Neurocrine Biosciences in the fourth quarter worth approximately $35,731,000. abrdn plc raised its position in Neurocrine Biosciences by 2,503.0% during the 4th quarter. abrdn plc now owns 83,633 shares of the company’s stock valued at $11,019,000 after purchasing an additional 80,420 shares in the last quarter. Redhawk Wealth Advisors Inc. bought a new stake in Neurocrine Biosciences during the 4th quarter valued at $1,245,000. Finally, HealthInvest Partners AB purchased a new stake in shares of Neurocrine Biosciences in the 4th quarter worth $1,662,000. Institutional investors own 92.59% of the company’s stock.

Insiders Place Their Bets

In other news, insider Eric Benevich sold 75,000 shares of Neurocrine Biosciences stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $139.38, for a total transaction of $10,453,500.00. Following the completion of the transaction, the insider now directly owns 40,778 shares of the company’s stock, valued at approximately $5,683,637.64. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider Eric Benevich sold 75,000 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $139.38, for a total transaction of $10,453,500.00. Following the completion of the transaction, the insider now directly owns 40,778 shares of the company’s stock, valued at approximately $5,683,637.64. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Stephen A. Sherwin sold 40,000 shares of the stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $133.46, for a total value of $5,338,400.00. Following the transaction, the director now owns 26,504 shares in the company, valued at approximately $3,537,223.84. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 208,697 shares of company stock worth $28,731,215. Corporate insiders own 4.30% of the company’s stock.

Neurocrine Biosciences Price Performance

NBIX stock opened at $134.97 on Monday. The company has a market capitalization of $13.58 billion, a P/E ratio of 37.18 and a beta of 0.36. Neurocrine Biosciences, Inc. has a 12 month low of $92.61 and a 12 month high of $148.37. The firm’s fifty day simple moving average is $137.87 and its 200-day simple moving average is $133.94.

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

Analyst Ratings Changes

NBIX has been the subject of several recent research reports. Needham & Company LLC restated a “hold” rating on shares of Neurocrine Biosciences in a report on Wednesday, May 1st. Canaccord Genuity Group increased 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. Guggenheim boosted their price objective on shares of Neurocrine Biosciences from $164.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. BMO Capital Markets increased their target price on Neurocrine Biosciences from $129.00 to $138.00 and gave the company a “market perform” rating in a research report on Thursday, May 2nd. Finally, HC Wainwright boosted their price target on Neurocrine Biosciences from $150.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Six research 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 stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $150.85.

Read Our Latest Analysis on NBIX

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.

Further Reading

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

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