Truist Financial Corp Raises Holdings in Neurocrine Biosciences, Inc. $NBIX

Truist Financial Corp increased its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 13.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 40,001 shares of the company’s stock after acquiring an additional 4,715 shares during the period. Truist Financial Corp’s holdings in Neurocrine Biosciences were worth $5,028,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in NBIX. Dodge & Cox raised its stake in shares of Neurocrine Biosciences by 83.5% in the first 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 holdings in shares of Neurocrine Biosciences by 44.0% during the first quarter. Wellington Management Group LLP now owns 2,097,981 shares of the company’s stock worth $232,037,000 after buying an additional 640,556 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Neurocrine Biosciences by 3.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,539,601 shares of the company’s stock worth $170,281,000 after buying an additional 49,088 shares during the last quarter. Braidwell LP grew its holdings in shares of Neurocrine Biosciences by 32.2% during the first quarter. Braidwell LP now owns 1,191,925 shares of the company’s stock worth $131,827,000 after buying an additional 290,135 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Neurocrine Biosciences by 8.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,159,367 shares of the company’s stock valued at $128,226,000 after purchasing an additional 89,271 shares in the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

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 shares were 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 approximately $638,550. This represents a 8.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kevin Charles Gorman sold 106,322 shares of the company’s stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $126.41, for a total transaction of $13,440,164.02. Following the completion of the sale, the director owned 514,596 shares of the company’s stock, valued at approximately $65,050,080.36. This trade represents a 17.12% decrease in their position. The disclosure for this sale can be found here. 4.30% of the stock is currently owned by corporate insiders.

Neurocrine Biosciences Price Performance

Neurocrine Biosciences stock opened at $137.00 on Wednesday. Neurocrine Biosciences, Inc. has a 12-month low of $84.23 and a 12-month high of $154.61. The stock has a market capitalization of $13.59 billion, a PE ratio of 40.53, a price-to-earnings-growth ratio of 1.00 and a beta of 0.21. The firm has a 50 day simple moving average of $137.15 and a 200-day simple moving average of $124.66.

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

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Stifel Nicolaus lifted their price target on shares of Neurocrine Biosciences from $166.00 to $174.00 and gave the company a “buy” rating in a research report on Thursday, July 31st. UBS Group boosted their price objective on shares of Neurocrine Biosciences from $152.00 to $174.00 and gave the company a “buy” rating in a research note on Wednesday, July 9th. Needham & Company LLC upped their price target on shares of Neurocrine Biosciences from $161.00 to $170.00 and gave the stock a “buy” rating in a research report on Monday, September 22nd. Truist Financial began coverage on shares of Neurocrine Biosciences in a report on Monday, July 21st. They issued a “buy” rating and a $163.00 price objective on the stock. Finally, Wedbush restated an “outperform” rating on shares of Neurocrine Biosciences in a research note on Monday, September 22nd. Seventeen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $161.89.

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.