Wellington Management Group LLP Sells 128,397 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Wellington Management Group LLP lessened its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 9.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,199,542 shares of the company’s stock after selling 128,397 shares during the quarter. Wellington Management Group LLP owned 1.21% of Neurocrine Biosciences worth $158,052,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in NBIX. FCF Advisors LLC purchased a new position in shares of Neurocrine Biosciences during the 4th quarter valued at about $1,157,000. Norges Bank bought a new stake in shares of Neurocrine Biosciences in the 4th quarter worth approximately $35,731,000. abrdn plc boosted its stake in shares of Neurocrine Biosciences by 2,503.0% in the 4th quarter. abrdn plc now owns 83,633 shares of the company’s stock valued at $11,019,000 after purchasing an additional 80,420 shares in the last quarter. Redhawk Wealth Advisors Inc. bought a new position in shares of Neurocrine Biosciences during the 4th quarter valued at $1,245,000. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Neurocrine Biosciences by 18.3% in the fourth quarter. The Manufacturers Life Insurance Company now owns 116,955 shares of the company’s stock worth $15,410,000 after buying an additional 18,070 shares during the period. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Neurocrine Biosciences Stock Down 3.3 %

Shares of NASDAQ NBIX opened at $130.86 on Thursday. The company has a 50 day moving average of $137.10 and a 200 day moving average of $134.93. Neurocrine Biosciences, Inc. has a twelve month low of $93.02 and a twelve month high of $148.37. The firm has a market cap of $13.17 billion, a P/E ratio of 36.05 and a beta of 0.36.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its earnings results on Wednesday, May 1st. The company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.62). Neurocrine Biosciences had a net margin of 18.65% and a return on equity of 17.45%. The company had revenue of $515.30 million for the quarter, compared to the consensus estimate of $512.21 million. As a group, equities analysts expect that Neurocrine Biosciences, Inc. will post 4.19 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on NBIX. HC Wainwright lifted their price target on Neurocrine Biosciences from $150.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Morgan Stanley reiterated an “overweight” rating and set a $160.00 price target on shares of Neurocrine Biosciences in a report on Wednesday, June 12th. Cantor Fitzgerald reissued an “overweight” rating and issued a $155.00 price target on shares of Neurocrine Biosciences in a report on Wednesday, April 10th. UBS Group boosted their price objective on shares of Neurocrine Biosciences from $174.00 to $193.00 and gave the company a “buy” rating in a research report on Tuesday, May 28th. Finally, Wedbush reissued an “outperform” rating and issued a $152.00 target price on shares of Neurocrine Biosciences in a research note on Wednesday, May 29th. Six research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $152.00.

Insiders Place Their Bets

In other news, Director Stephen A. Sherwin sold 40,000 shares of the firm’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $133.46, for a total value of $5,338,400.00. Following the transaction, the director now directly owns 26,504 shares in the company, valued at approximately $3,537,223.84. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Neurocrine Biosciences news, Director Stephen A. Sherwin sold 40,000 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $133.46, for a total value of $5,338,400.00. Following the transaction, the director now directly owns 26,504 shares of the company’s stock, valued at $3,537,223.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Shalini Sharp sold 1,106 shares of the company’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $141.90, for a total transaction of $156,941.40. Following the sale, the director now directly owns 994 shares of the company’s stock, valued at approximately $141,048.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 88,697 shares of company stock valued at $11,975,615. Company insiders own 4.30% of the company’s stock.

Neurocrine Biosciences 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.