Neurocrine Biosciences, Inc. $NBIX Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC reduced its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 11.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 339,432 shares of the company’s stock after selling 43,009 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.34% of Neurocrine Biosciences worth $47,724,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Royal Bank of Canada raised its position in Neurocrine Biosciences by 36.7% in the first quarter. Royal Bank of Canada now owns 82,810 shares of the company’s stock valued at $9,158,000 after purchasing an additional 22,224 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Neurocrine Biosciences by 60.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,783 shares of the company’s stock valued at $1,647,000 after buying an additional 5,577 shares during the period. NewEdge Advisors LLC lifted its position in Neurocrine Biosciences by 56.3% during the 1st quarter. NewEdge Advisors LLC now owns 7,630 shares of the company’s stock worth $844,000 after acquiring an additional 2,747 shares in the last quarter. Empowered Funds LLC purchased a new position in Neurocrine Biosciences in the 1st quarter worth approximately $1,333,000. Finally, Geneos Wealth Management Inc. boosted its holdings in Neurocrine Biosciences by 143.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock worth $25,000 after acquiring an additional 135 shares during the period. Institutional investors and hedge funds own 92.59% of the company’s stock.

Analyst Upgrades and Downgrades

NBIX has been the topic of a number of analyst reports. Wolfe Research initiated coverage on shares of Neurocrine Biosciences in a research note on Tuesday, February 24th. They set an “outperform” rating and a $160.00 price objective on the stock. BMO Capital Markets decreased their target price on shares of Neurocrine Biosciences from $147.00 to $140.00 and set a “market perform” rating for the company in a research note on Thursday, February 12th. Citigroup raised their price target on shares of Neurocrine Biosciences from $203.00 to $204.00 and gave the company a “buy” rating in a report on Thursday, February 12th. Royal Bank Of Canada cut their price objective on shares of Neurocrine Biosciences from $180.00 to $177.00 and set an “outperform” rating on the stock in a report on Thursday, February 12th. Finally, TD Cowen raised their target price on Neurocrine Biosciences from $175.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, December 5th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $175.10.

Insider Transactions at Neurocrine Biosciences

In related news, CEO Kyle Gano sold 36,400 shares of the company’s stock in a transaction dated Friday, January 16th. The shares were sold at an average price of $132.70, for a total value of $4,830,280.00. Following the completion of the sale, the chief executive officer owned 140,407 shares of the company’s stock, valued at $18,632,008.90. This represents a 20.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 4.80% of the company’s stock.

Neurocrine Biosciences Stock Performance

Shares of NASDAQ:NBIX opened at $132.56 on Thursday. The company’s fifty day moving average is $131.77 and its two-hundred day moving average is $139.25. Neurocrine Biosciences, Inc. has a 1-year low of $84.23 and a 1-year high of $160.18. The stock has a market capitalization of $13.30 billion, a price-to-earnings ratio of 28.45, a price-to-earnings-growth ratio of 0.69 and a beta of 0.35.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its earnings results on Wednesday, February 11th. The company reported $1.88 EPS for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.48). The company had revenue of $805.50 million during the quarter, compared to analyst estimates of $804.21 million. Neurocrine Biosciences had a net margin of 16.73% and a return on equity of 16.48%. The business’s revenue was up 28.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.69 earnings per share. Sell-side analysts expect that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

Neurocrine Biosciences Company Profile

Neurocrine Biosciences (NASDAQ: NBIX) is a biopharmaceutical company based in San Diego, California, focused on developing treatments for neurological, endocrine and neuropsychiatric disorders. Since its founding in 1992, the company has pursued a research‐driven strategy aimed at addressing unmet medical needs in movement disorders, reproductive health and central nervous system conditions. Neurocrine’s operations encompass drug discovery, clinical development and commercialization activities.

The company’s lead marketed product, Ingrezza™ (valbenazine), is indicated for the treatment of tardive dyskinesia, a movement disorder associated with long-term antipsychotic use.