PNC Financial Services Group Inc. Cuts Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

PNC Financial Services Group Inc. lessened its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 11.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,247 shares of the company’s stock after selling 401 shares during the period. PNC Financial Services Group Inc.’s holdings in Neurocrine Biosciences were worth $428,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. First Horizon Advisors Inc. increased its stake in shares of Neurocrine Biosciences by 10.5% in the 4th quarter. First Horizon Advisors Inc. now owns 782 shares of the company’s stock valued at $103,000 after purchasing an additional 74 shares in the last quarter. Quadrant Capital Group LLC increased its stake in shares of Neurocrine Biosciences by 3.9% in the 4th quarter. Quadrant Capital Group LLC now owns 2,075 shares of the company’s stock valued at $273,000 after purchasing an additional 78 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in shares of Neurocrine Biosciences by 3.2% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 2,530 shares of the company’s stock valued at $333,000 after purchasing an additional 78 shares in the last quarter. Sunbelt Securities Inc. increased its stake in shares of Neurocrine Biosciences by 34.3% in the 3rd quarter. Sunbelt Securities Inc. now owns 325 shares of the company’s stock valued at $37,000 after purchasing an additional 83 shares in the last quarter. Finally, Balentine LLC increased its stake in shares of Neurocrine Biosciences by 4.0% in the 4th quarter. Balentine LLC now owns 2,316 shares of the company’s stock valued at $305,000 after purchasing an additional 89 shares in the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Insider Buying and Selling at Neurocrine Biosciences

In other Neurocrine Biosciences news, insider Eric Benevich sold 19,818 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $133.36, for a total value of $2,642,928.48. Following the sale, the insider now owns 40,778 shares of the company’s stock, valued at $5,438,154.08. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Neurocrine Biosciences news, insider Eric Benevich sold 19,818 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $133.36, for a total value of $2,642,928.48. Following the sale, the insider now owns 40,778 shares of the company’s stock, valued at $5,438,154.08. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Stephen A. Sherwin sold 40,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $133.46, for a total value of $5,338,400.00. Following the completion of the sale, the director now directly owns 26,504 shares in the company, valued at approximately $3,537,223.84. The disclosure for this sale can be found here. Insiders have sold a total of 88,697 shares of company stock valued at $11,975,615 over the last quarter. 4.30% of the stock is owned by company insiders.

Neurocrine Biosciences Stock Performance

NBIX opened at $137.67 on Friday. Neurocrine Biosciences, Inc. has a one year low of $93.02 and a one year high of $148.37. The stock has a market capitalization of $13.86 billion, a PE ratio of 37.93 and a beta of 0.36. The business’s 50 day moving average price is $137.34 and its 200 day moving average price is $135.62.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Evercore ISI assumed coverage on Neurocrine Biosciences in a research note on Tuesday, May 14th. They set an “outperform” rating and a $175.00 price objective for the company. Morgan Stanley reiterated an “overweight” rating and set a $160.00 price objective on shares of Neurocrine Biosciences in a research note on Wednesday, June 12th. BMO Capital Markets boosted their price objective on Neurocrine Biosciences from $129.00 to $138.00 and gave the stock a “market perform” rating in a research note on Thursday, May 2nd. Wells Fargo & Company upgraded Neurocrine Biosciences from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $140.00 to $170.00 in a research note on Wednesday, April 24th. Finally, Citigroup boosted their price objective on Neurocrine Biosciences from $140.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, May 3rd. Six equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $152.00.

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.