Truist Financial Corp Has $4.34 Million Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Truist Financial Corp lessened its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 15.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,546 shares of the company’s stock after selling 5,802 shares during the period. Truist Financial Corp’s holdings in Neurocrine Biosciences were worth $4,343,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. 1832 Asset Management L.P. lifted its stake in Neurocrine Biosciences by 1,370.7% during the second quarter. 1832 Asset Management L.P. now owns 541,200 shares of the company’s stock worth $74,507,000 after purchasing an additional 504,400 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of Neurocrine Biosciences by 23.0% during the 2nd quarter. AQR Capital Management LLC now owns 1,223,055 shares of the company’s stock worth $166,959,000 after buying an additional 228,444 shares during the last quarter. Vanguard Group Inc. boosted its stake in Neurocrine Biosciences by 2.3% in the first quarter. Vanguard Group Inc. now owns 9,930,926 shares of the company’s stock valued at $1,369,673,000 after buying an additional 220,598 shares in the last quarter. Iron Triangle Partners LP bought a new position in Neurocrine Biosciences in the first quarter valued at about $30,342,000. Finally, Renaissance Technologies LLC raised its stake in Neurocrine Biosciences by 9.6% during the second quarter. Renaissance Technologies LLC now owns 2,468,146 shares of the company’s stock worth $339,790,000 after acquiring an additional 216,500 shares in the last quarter. 92.59% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Neurocrine Biosciences news, Director Gary A. Lyons sold 930 shares of the stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $150.03, for a total value of $139,527.90. Following the sale, the director now directly owns 119,047 shares in the company, valued at $17,860,621.41. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Neurocrine Biosciences news, insider Ingrid Delaet sold 273 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $147.70, for a total transaction of $40,322.10. Following the transaction, the insider now directly owns 6,607 shares in the company, valued at $975,853.90. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gary A. Lyons sold 930 shares of the stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $150.03, for a total transaction of $139,527.90. Following the transaction, the director now directly owns 119,047 shares in the company, valued at approximately $17,860,621.41. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 61,798 shares of company stock worth $9,274,196. 4.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on NBIX shares. Royal Bank of Canada cut their target price on shares of Neurocrine Biosciences from $136.00 to $133.00 and set a “sector perform” rating on the stock in a research report on Friday, October 4th. JPMorgan Chase & Co. raised their price objective on Neurocrine Biosciences from $173.00 to $181.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. BMO Capital Markets lowered their target price on Neurocrine Biosciences from $142.00 to $128.00 and set a “market perform” rating for the company in a report on Thursday, August 29th. Cantor Fitzgerald reissued an “overweight” rating and set a $155.00 price target on shares of Neurocrine Biosciences in a research note on Monday, September 16th. Finally, Jefferies Financial Group boosted their price target on Neurocrine Biosciences from $177.00 to $189.00 and gave the stock a “buy” rating in a report on Monday, August 19th. Five equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $164.09.

Neurocrine Biosciences Stock Down 0.4 %

NBIX stock opened at $111.66 on Wednesday. The stock’s 50 day moving average is $131.04 and its 200-day moving average is $136.07. The firm has a market capitalization of $11.24 billion, a PE ratio of 30.76 and a beta of 0.36. Neurocrine Biosciences, Inc. has a twelve month low of $103.63 and a twelve month high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $1.15 by ($0.52). The firm had revenue of $590.20 million for the quarter, compared to the consensus estimate of $545.98 million. Neurocrine Biosciences had a return on equity of 14.86% and a net margin of 16.00%. The firm’s revenue was up 30.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.95 EPS. On average, equities research analysts anticipate that Neurocrine Biosciences, Inc. will post 4.19 earnings per share for the current fiscal year.

About Neurocrine Biosciences

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.