Prudential Financial Inc. cut its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 26.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 177,470 shares of the company’s stock after selling 62,700 shares during the period. Prudential Financial Inc. owned about 0.20% of Neurocrine Biosciences worth $7,684,000 at the end of the most recent reporting period.
A number of other large investors have also recently modified their holdings of NBIX. Perceptive Advisors LLC purchased a new stake in shares of Neurocrine Biosciences during the fourth quarter worth $128,349,000. Franklin Resources Inc. boosted its stake in shares of Neurocrine Biosciences by 19.8% in the fourth quarter. Franklin Resources Inc. now owns 2,409,715 shares of the company’s stock worth $93,256,000 after buying an additional 397,429 shares in the last quarter. Janus Capital Management LLC boosted its stake in shares of Neurocrine Biosciences by 10.6% in the fourth quarter. Janus Capital Management LLC now owns 2,356,485 shares of the company’s stock worth $91,203,000 after buying an additional 224,906 shares in the last quarter. State Street Corp boosted its stake in shares of Neurocrine Biosciences by 6.8% in the fourth quarter. State Street Corp now owns 2,289,171 shares of the company’s stock worth $88,571,000 after buying an additional 145,703 shares in the last quarter. Finally, Orbimed Advisors LLC boosted its stake in shares of Neurocrine Biosciences by 17.3% in the fourth quarter. Orbimed Advisors LLC now owns 2,128,774 shares of the company’s stock worth $82,384,000 after buying an additional 313,300 shares in the last quarter. Institutional investors own 95.81% of the company’s stock.
Neurocrine Biosciences, Inc. (NASDAQ:NBIX) opened at 43.97 on Friday. The company’s 50-day moving average price is $49.22 and its 200-day moving average price is $45.02. The firm’s market cap is $3.87 billion. Neurocrine Biosciences, Inc. has a one year low of $37.35 and a one year high of $55.38.
Neurocrine Biosciences (NASDAQ:NBIX) last announced its earnings results on Tuesday, May 9th. The company reported ($0.90) earnings per share for the quarter, missing the consensus estimate of ($0.67) by $0.23. During the same quarter in the previous year, the company earned ($0.22) earnings per share. On average, analysts anticipate that Neurocrine Biosciences, Inc. will post ($2.46) EPS for the current year.
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NBIX has been the subject of several analyst reports. Needham & Company LLC restated a “buy” rating and set a $62.00 price target on shares of Neurocrine Biosciences in a research note on Friday, March 17th. Jefferies Group LLC restated a “buy” rating and set a $58.00 price target on shares of Neurocrine Biosciences in a research note on Tuesday, April 4th. ValuEngine upgraded Neurocrine Biosciences from a “strong sell” rating to a “sell” rating in a research note on Friday, June 2nd. Piper Jaffray Companies restated an “outperform” rating and set a $80.00 price target on shares of Neurocrine Biosciences in a research note on Tuesday, March 7th. Finally, Barclays PLC restated an “overweight” rating and set a $60.00 price target on shares of Neurocrine Biosciences in a research note on Monday, March 27th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $67.69.
In other Neurocrine Biosciences news, CEO Kevin Charles Gorman sold 21,739 shares of Neurocrine Biosciences stock in a transaction on Tuesday, May 2nd. The stock was sold at an average price of $53.23, for a total transaction of $1,157,166.97. Following the sale, the chief executive officer now owns 354,346 shares of the company’s stock, valued at approximately $18,861,837.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Haig P. Bozigian sold 13,065 shares of Neurocrine Biosciences stock in a transaction on Wednesday, April 12th. The shares were sold at an average price of $50.42, for a total value of $658,737.30. Following the sale, the insider now directly owns 129,805 shares in the company, valued at approximately $6,544,768.10. The disclosure for this sale can be found here. Insiders have sold a total of 104,360 shares of company stock worth $5,501,889 in the last ninety days. 4.80% of the stock is owned by company insiders.
Neurocrine Biosciences Company Profile
Neurocrine Biosciences, Inc is engaged in discovering and developing pharmaceuticals, in diseases with unmet medical needs, through its research and development (R&D) platform, focused on neurological and endocrine based diseases and disorders. Its three lead late-stage clinical programs are elagolix, which is a gonadotropin-releasing hormone (GnRH) antagonist for endometriosis and uterine fibroids; INGREZZA (valbenazine), which is a vesicular monoamine transporter 2 (VMAT2) inhibitor, for the treatment of movement disorders, and opicapone, which is a selective catechol-O-methyltransferase inhibitor that is an adjunct therapy to preparations of levodopa/Dihydroxyphenylalanine (DOPA) decarboxylase inhibitors for adult patients with Parkinson’s disease.
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