Neurocrine Biosciences, Inc. $NBIX Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp trimmed its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 22.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 819 shares of the company’s stock after selling 237 shares during the quarter. Fifth Third Bancorp’s holdings in Neurocrine Biosciences were worth $103,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of NBIX. Dodge & Cox grew its position in Neurocrine Biosciences by 83.5% in the 1st quarter. Dodge & Cox now owns 5,534,624 shares of the company’s stock valued at $612,129,000 after acquiring an additional 2,518,199 shares in the last quarter. Wellington Management Group LLP grew its position in Neurocrine Biosciences by 44.0% in the 1st quarter. Wellington Management Group LLP now owns 2,097,981 shares of the company’s stock valued at $232,037,000 after acquiring an additional 640,556 shares in the last quarter. Swedbank AB grew its position in Neurocrine Biosciences by 5,078.9% in the 1st quarter. Swedbank AB now owns 429,697 shares of the company’s stock valued at $47,524,000 after acquiring an additional 421,400 shares in the last quarter. Assenagon Asset Management S.A. grew its position in Neurocrine Biosciences by 1,405.2% in the 1st quarter. Assenagon Asset Management S.A. now owns 393,455 shares of the company’s stock valued at $43,516,000 after acquiring an additional 367,315 shares in the last quarter. Finally, Braidwell LP grew its position in Neurocrine Biosciences by 32.2% in the 1st quarter. Braidwell LP now owns 1,191,925 shares of the company’s stock valued at $131,827,000 after acquiring an additional 290,135 shares in the last quarter. 92.59% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NBIX has been the subject of several research reports. Morgan Stanley lifted their target price on Neurocrine Biosciences from $158.00 to $163.00 and gave the company an “overweight” rating in a research report on Friday, September 5th. Piper Sandler lifted their target price on Neurocrine Biosciences from $154.00 to $175.00 and gave the company an “overweight” rating in a research report on Thursday, July 31st. UBS Group boosted their price objective on Neurocrine Biosciences from $152.00 to $174.00 and gave the stock a “buy” rating in a research report on Wednesday, July 9th. The Goldman Sachs Group assumed coverage on Neurocrine Biosciences in a research report on Thursday, July 10th. They set a “buy” rating and a $182.00 price objective for the company. Finally, Wall Street Zen raised Neurocrine Biosciences from a “hold” rating to a “strong-buy” rating in a research report on Saturday, August 2nd. Seventeen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $161.89.

Insider Activity at Neurocrine Biosciences

In related news, 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 transaction, the insider directly owned 4,730 shares of the company’s stock, valued at $638,550. This represents a 8.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jude Onyia sold 59,819 shares of the company’s stock in a transaction that occurred on Wednesday, July 9th. The shares were sold at an average price of $130.46, for a total value of $7,803,986.74. Following the completion of the transaction, the insider directly owned 18,289 shares of the company’s stock, valued at $2,385,982.94. This trade represents a 76.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 166,598 shares of company stock valued at $21,305,846 over the last three months. 4.80% of the stock is owned by corporate insiders.

Neurocrine Biosciences Stock Down 2.4%

Shares of NBIX opened at $137.00 on Thursday. The stock has a 50 day moving average price of $136.78 and a 200 day moving average price of $123.82. The company has a market capitalization of $13.59 billion, a price-to-earnings ratio of 40.53, a price-to-earnings-growth ratio of 1.01 and a beta of 0.21. Neurocrine Biosciences, Inc. has a 52-week low of $84.23 and a 52-week high of $154.61.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.08. The firm had revenue of $687.50 million during the quarter, compared to the consensus estimate of $653.09 million. Neurocrine Biosciences had a return on equity of 13.22% and a net margin of 13.88%.The firm’s quarterly revenue was up 16.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.63 earnings per share. On average, equities analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal 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.