Allspring Global Investments Holdings LLC Sells 209,421 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Allspring Global Investments Holdings LLC lowered its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 30.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 480,565 shares of the company's stock after selling 209,421 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.47% of Neurocrine Biosciences worth $66,246,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Louisiana State Employees Retirement System lifted its holdings in shares of Neurocrine Biosciences by 0.4% in the fourth quarter. Louisiana State Employees Retirement System now owns 28,100 shares of the company's stock valued at $3,836,000 after purchasing an additional 100 shares in the last quarter. Commerce Bank grew its holdings in shares of Neurocrine Biosciences by 2.6% during the third quarter. Commerce Bank now owns 4,199 shares of the company's stock worth $484,000 after buying an additional 108 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. raised its position in Neurocrine Biosciences by 2.7% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,302 shares of the company's stock valued at $496,000 after buying an additional 113 shares during the last quarter. Brooklyn Investment Group lifted its stake in Neurocrine Biosciences by 99.1% in the 4th quarter. Brooklyn Investment Group now owns 231 shares of the company's stock valued at $32,000 after acquiring an additional 115 shares in the last quarter. Finally, Tealwood Asset Management Inc. boosted its position in Neurocrine Biosciences by 1.0% during the 4th quarter. Tealwood Asset Management Inc. now owns 11,911 shares of the company's stock worth $1,626,000 after acquiring an additional 118 shares during the last quarter. Institutional investors and hedge funds own 92.59% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on NBIX. Royal Bank of Canada lowered their price objective on shares of Neurocrine Biosciences from $154.00 to $148.00 and set a "sector perform" rating on the stock in a report on Friday, February 7th. UBS Group lifted their price target on shares of Neurocrine Biosciences from $162.00 to $176.00 and gave the company a "buy" rating in a research note on Thursday, January 30th. StockNews.com upgraded shares of Neurocrine Biosciences from a "buy" rating to a "strong-buy" rating in a research note on Monday, February 10th. Morgan Stanley lifted their target price on Neurocrine Biosciences from $170.00 to $185.00 and gave the company an "overweight" rating in a research report on Tuesday, February 4th. Finally, William Blair reiterated an "outperform" rating on shares of Neurocrine Biosciences in a report on Friday, February 7th. Five investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Neurocrine Biosciences currently has an average rating of "Moderate Buy" and a consensus price target of $166.90.

Insider Activity

In related news, insider Jude Onyia sold 2,331 shares of the business's stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $126.29, for a total value of $294,381.99. Following the completion of the sale, the insider now directly owns 15,449 shares in the company, valued at approximately $1,951,054.21. The trade was a 13.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Matt Abernethy sold 1,283 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $152.87, for a total value of $196,132.21. Following the sale, the chief financial officer now directly owns 32,681 shares in the company, valued at $4,995,944.47. This represents a 3.78 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 236,600 shares of company stock valued at $34,348,261. 4.30% of the stock is owned by company insiders.

Neurocrine Biosciences Trading Down 1.6 %

Shares of NASDAQ:NBIX traded down $1.85 during trading on Monday, reaching $115.02. 1,479,784 shares of the stock were exchanged, compared to its average volume of 952,604. Neurocrine Biosciences, Inc. has a 12 month low of $110.95 and a 12 month high of $157.98. The stock has a 50-day moving average price of $137.55 and a 200-day moving average price of $130.19. The firm has a market cap of $11.65 billion, a PE ratio of 34.96 and a beta of 0.33.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The company reported $1.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.62 by ($0.62). Neurocrine Biosciences had a net margin of 14.49% and a return on equity of 13.45%. On average, sell-side analysts expect that Neurocrine Biosciences, Inc. will post 6.53 earnings per share for the current fiscal year.

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.