Allspring Global Investments Holdings LLC Acquires 96,563 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Allspring Global Investments Holdings LLC increased its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 23.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 506,666 shares of the company’s stock after acquiring an additional 96,563 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.51% of Neurocrine Biosciences worth $69,879,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Mather Group LLC. bought a new position in Neurocrine Biosciences during the first quarter worth about $26,000. Lindbrook Capital LLC increased its position in Neurocrine Biosciences by 85.0% during the fourth quarter. Lindbrook Capital LLC now owns 209 shares of the company’s stock worth $28,000 after acquiring an additional 96 shares during the period. EdgeRock Capital LLC bought a new position in Neurocrine Biosciences during the fourth quarter worth about $31,000. Benjamin F. Edwards & Company Inc. bought a new position in Neurocrine Biosciences during the fourth quarter worth about $33,000. Finally, Headinvest LLC acquired a new stake in Neurocrine Biosciences during the third quarter worth about $28,000. 92.59% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Stephen A. Sherwin sold 40,000 shares of Neurocrine Biosciences stock in a transaction 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 owns 26,504 shares in the company, valued at approximately $3,537,223.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Stephen A. Sherwin sold 40,000 shares of Neurocrine Biosciences stock in a transaction 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 owns 26,504 shares in the company, valued at approximately $3,537,223.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ingrid Delaet sold 273 shares of Neurocrine Biosciences stock in a transaction on Monday, May 6th. The shares were sold at an average price of $140.55, for a total transaction of $38,370.15. Following the completion of the sale, the insider now owns 7,507 shares of the company’s stock, valued at approximately $1,055,108.85. The disclosure for this sale can be found here. Insiders sold 98,697 shares of company stock worth $13,377,515 in the last quarter. 4.30% of the stock is owned by corporate insiders.

Neurocrine Biosciences Stock Performance

Neurocrine Biosciences stock opened at $137.49 on Wednesday. Neurocrine Biosciences, Inc. has a 52-week low of $93.28 and a 52-week high of $148.37. The firm has a 50 day moving average price of $137.42 and a two-hundred day moving average price of $136.06. The firm has a market cap of $13.84 billion, a price-to-earnings ratio of 37.88 and a beta of 0.37.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly 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 return on equity of 17.45% and a net margin of 18.65%. The firm had revenue of $515.30 million for the quarter, compared to the consensus estimate of $512.21 million. As a group, equities research analysts predict that Neurocrine Biosciences, Inc. will post 4.19 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Guggenheim increased their price objective on shares of Neurocrine Biosciences from $164.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Canaccord Genuity Group increased their price objective on shares of Neurocrine Biosciences from $154.00 to $164.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. StockNews.com downgraded shares of Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 21st. Evercore ISI assumed coverage on shares of Neurocrine Biosciences in a research note on Tuesday, May 14th. They set an “outperform” rating and a $175.00 price objective on the stock. Finally, Wedbush reiterated an “outperform” rating and set a $152.00 price objective 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 assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $152.00.

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.