Bessemer Group Inc. Cuts Stock Holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Bessemer Group Inc. trimmed its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 67.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,760 shares of the company’s stock after selling 13,893 shares during the quarter. Bessemer Group Inc.’s holdings in Neurocrine Biosciences were worth $747,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

NBIX has been the topic of a number of research analyst reports. BMO Capital Markets lifted their price target on shares of Neurocrine Biosciences from $96.00 to $115.00 and gave the company a “market perform” rating in a research note on Tuesday, May 6th. Wedbush reissued an “outperform” rating on shares of Neurocrine Biosciences in a research note on Tuesday, May 6th. Morgan Stanley reissued an “overweight” rating and issued a $150.00 price target (down previously from $185.00) on shares of Neurocrine Biosciences in a research note on Friday, March 7th. Piper Sandler reissued an “overweight” rating and issued a $154.00 price target (down previously from $160.00) on shares of Neurocrine Biosciences in a research note on Tuesday, May 6th. Finally, HC Wainwright dropped their price target 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. Three research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $162.00.

Insider Buying and Selling at Neurocrine Biosciences

In other news, Director Kevin Charles Gorman sold 9,613 shares of Neurocrine Biosciences 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 transaction, the director owned 514,596 shares in the company, valued at $61,947,066.48. The trade was a 1.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William H. Rastetter sold 30,000 shares of Neurocrine Biosciences stock in a transaction on Monday, May 5th. The stock was sold at an average price of $110.20, for a total value of $3,306,000.00. Following the transaction, the director owned 37,491 shares in the company, valued at approximately $4,131,508.20. This represents a 44.45% decrease in their position. The disclosure for this sale can be found here. 4.30% of the stock is owned by insiders.

Neurocrine Biosciences Stock Up 0.2%

NASDAQ NBIX opened at $125.69 on Tuesday. Neurocrine Biosciences, Inc. has a 52 week low of $84.23 and a 52 week high of $157.98. The business’s fifty day simple moving average is $119.85 and its 200-day simple moving average is $121.77. The firm has a market cap of $12.44 billion, a PE ratio of 42.61, a P/E/G ratio of 1.29 and a beta of 0.24.

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