Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Shares Sold by KBC Group NV

KBC Group NV cut its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 3.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,835 shares of the company’s stock after selling 495 shares during the period. KBC Group NV’s holdings in Neurocrine Biosciences were worth $1,530,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. increased its stake in Neurocrine Biosciences by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 10,119,641 shares of the company’s stock worth $1,381,331,000 after buying an additional 122,681 shares during the period. Dodge & Cox increased its stake in Neurocrine Biosciences by 134.2% during the 4th quarter. Dodge & Cox now owns 3,016,425 shares of the company’s stock worth $411,742,000 after buying an additional 1,728,605 shares during the period. AQR Capital Management LLC increased its stake in Neurocrine Biosciences by 2.9% during the 4th quarter. AQR Capital Management LLC now owns 1,896,891 shares of the company’s stock worth $258,926,000 after buying an additional 53,610 shares during the period. Geode Capital Management LLC increased its stake in Neurocrine Biosciences by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 1,875,062 shares of the company’s stock worth $255,523,000 after buying an additional 15,830 shares during the period. Finally, Wellington Management Group LLP increased its stake in Neurocrine Biosciences by 102.9% during the 4th quarter. Wellington Management Group LLP now owns 1,457,425 shares of the company’s stock worth $198,939,000 after buying an additional 739,199 shares during the period. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently weighed in on NBIX. Piper Sandler reaffirmed an “overweight” rating and set a $154.00 target price (down from $160.00) on shares of Neurocrine Biosciences in a research note on Tuesday, May 6th. HC Wainwright cut their target price on shares of Neurocrine Biosciences from $185.00 to $168.00 and set a “buy” rating on the stock in a research note on Tuesday, April 22nd. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $145.00 target price on shares of Neurocrine Biosciences in a research note on Monday, June 2nd. Morgan Stanley reaffirmed an “overweight” rating and set a $150.00 target price (down from $185.00) on shares of Neurocrine Biosciences in a research note on Friday, March 7th. Finally, UBS Group increased their price objective on shares of Neurocrine Biosciences from $137.00 to $152.00 and gave the company a “buy” rating in a research report on Tuesday, May 6th. Three investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $162.00.

Neurocrine Biosciences Trading Down 1.1%

Shares of Neurocrine Biosciences stock opened at $128.04 on Friday. The company has a fifty day simple moving average of $120.90 and a 200-day simple moving average of $121.87. Neurocrine Biosciences, Inc. has a 12-month low of $84.23 and a 12-month high of $157.98. The stock has a market cap of $12.67 billion, a price-to-earnings ratio of 43.40, a PEG ratio of 1.33 and a beta of 0.24.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings results on Monday, May 5th. The company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.62). The business had revenue of $572.60 million for the quarter, compared to analyst estimates of $587.06 million. Neurocrine Biosciences had a return on equity of 11.81% and a net margin of 12.68%. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.20 EPS. On average, analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director William H. Rastetter sold 30,000 shares of the stock in a transaction on Monday, May 5th. The shares were sold at an average price of $110.20, for a total transaction of $3,306,000.00. Following the completion of the sale, the director owned 37,491 shares in the company, valued at $4,131,508.20. This represents a 44.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kevin Charles Gorman sold 9,613 shares of the stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $120.38, for a total transaction of $1,157,212.94. Following the sale, the director owned 514,596 shares of the company’s stock, valued at approximately $61,947,066.48. This represents a 1.83% decrease in their position. The disclosure for this sale can be found here. 4.80% of the stock is owned by corporate insiders.

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.