M&T Bank Corp Sells 2,740 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

M&T Bank Corp decreased its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 39.3% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 4,238 shares of the company’s stock after selling 2,740 shares during the period. M&T Bank Corp’s holdings in Neurocrine Biosciences were worth $469,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in NBIX. Dodge & Cox increased its holdings in shares of Neurocrine Biosciences by 134.2% during the 4th quarter. Dodge & Cox now owns 3,016,425 shares of the company’s stock worth $411,742,000 after acquiring an additional 1,728,605 shares during the last quarter. Wellington Management Group LLP increased its holdings in Neurocrine Biosciences by 102.9% in the 4th quarter. Wellington Management Group LLP now owns 1,457,425 shares of the company’s stock worth $198,939,000 after purchasing an additional 739,199 shares in the last quarter. Thrivent Financial for Lutherans increased its holdings in Neurocrine Biosciences by 2,759.4% in the 4th quarter. Thrivent Financial for Lutherans now owns 737,772 shares of the company’s stock worth $100,705,000 after purchasing an additional 711,970 shares in the last quarter. Orbimed Advisors LLC increased its stake in shares of Neurocrine Biosciences by 210.4% in the fourth quarter. Orbimed Advisors LLC now owns 938,120 shares of the company’s stock valued at $128,053,000 after buying an additional 635,900 shares during the period. Finally, Assenagon Asset Management S.A. increased its stake in shares of Neurocrine Biosciences by 1,405.2% in the first quarter. Assenagon Asset Management S.A. now owns 393,455 shares of the company’s stock valued at $43,516,000 after buying an additional 367,315 shares during the period. Institutional investors and hedge funds own 92.59% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on NBIX. Evercore ISI decreased their target price on Neurocrine Biosciences from $190.00 to $185.00 and set an “outperform” rating for the company in a research note on Thursday, April 24th. HC Wainwright dropped their price target on Neurocrine Biosciences from $185.00 to $168.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. Guggenheim lifted their price target on Neurocrine Biosciences from $155.00 to $165.00 and gave the stock a “buy” rating in a report on Tuesday, May 6th. BMO Capital Markets boosted their target price on Neurocrine Biosciences from $96.00 to $115.00 and gave the company a “market perform” rating in a research note on Tuesday, May 6th. Finally, Wedbush restated an “outperform” rating on shares of Neurocrine Biosciences in a research note on Tuesday, May 6th. Three research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $163.91.

Insiders Place Their Bets

In other news, Director Kevin Charles Gorman sold 9,613 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $120.38, for a total value of $1,157,212.94. Following the completion of the transaction, the director owned 514,596 shares of the company’s stock, valued at approximately $61,947,066.48. This represents a 1.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ingrid Delaet sold 457 shares of the company’s stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $135.00, for a total value of $61,695.00. Following the completion of the sale, the insider owned 4,730 shares in the company, valued at $638,550. The trade was a 8.81% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 120,251 shares of company stock worth $14,978,602. 4.80% of the stock is currently owned by company insiders.

Neurocrine Biosciences Trading Up 1.7%

NBIX opened at $133.48 on Thursday. The stock has a 50-day moving average price of $125.18 and a 200-day moving average price of $121.53. Neurocrine Biosciences, Inc. has a 12-month low of $84.23 and a 12-month high of $157.98. The stock has a market capitalization of $13.21 billion, a P/E ratio of 45.25, a PEG ratio of 1.35 and a beta of 0.24.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its earnings results on Monday, May 5th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.62). The company had revenue of $572.60 million for the quarter, compared to analysts’ expectations of $587.06 million. Neurocrine Biosciences had a net margin of 12.68% and a return on equity of 11.81%. The company’s revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.20 earnings per share. On average, equities research analysts predict that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

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.