Thrivent Financial for Lutherans Raises Stock Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Thrivent Financial for Lutherans grew its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 86.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,577 shares of the company's stock after buying an additional 21,641 shares during the period. Thrivent Financial for Lutherans' holdings in Neurocrine Biosciences were worth $6,412,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its position in shares of Neurocrine Biosciences by 1.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 336,536 shares of the company's stock valued at $44,343,000 after purchasing an additional 5,907 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in shares of Neurocrine Biosciences by 87.5% during the fourth quarter. Janney Montgomery Scott LLC now owns 8,637 shares of the company's stock worth $1,138,000 after acquiring an additional 4,030 shares in the last quarter. Norges Bank bought a new stake in shares of Neurocrine Biosciences in the 4th quarter worth approximately $35,731,000. UBS Group AG boosted its stake in shares of Neurocrine Biosciences by 6.4% in the 4th quarter. UBS Group AG now owns 143,894 shares of the company's stock valued at $18,959,000 after purchasing an additional 8,655 shares in the last quarter. Finally, Hsbc Holdings PLC grew its holdings in shares of Neurocrine Biosciences by 33.3% during the 4th quarter. Hsbc Holdings PLC now owns 103,956 shares of the company's stock valued at $13,715,000 after purchasing an additional 25,975 shares during the last quarter. Institutional investors own 92.59% of the company's stock.

Neurocrine Biosciences Price Performance

NASDAQ NBIX traded down $0.87 during trading hours on Friday, reaching $115.06. 936,435 shares of the company's stock traded hands, compared to its average volume of 859,900. Neurocrine Biosciences, Inc. has a 52-week low of $103.63 and a 52-week high of $157.98. The firm has a 50-day simple moving average of $136.11 and a 200 day simple moving average of $137.61. The firm has a market cap of $11.58 billion, a PE ratio of 31.75 and a beta of 0.37.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last released its earnings results on Thursday, August 1st. The company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.15 by ($0.52). The business had revenue of $590.20 million for the quarter, compared to analysts' expectations of $545.98 million. Neurocrine Biosciences had a net margin of 16.00% and a return on equity of 14.86%. Neurocrine Biosciences's revenue for the quarter was up 30.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.95 earnings per share. Sell-side analysts forecast that Neurocrine Biosciences, Inc. will post 4.19 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on NBIX. HC Wainwright restated a "buy" rating and set a $190.00 price target on shares of Neurocrine Biosciences in a research report on Thursday, August 29th. Cantor Fitzgerald restated an "overweight" rating and set a $155.00 target price on shares of Neurocrine Biosciences in a report on Monday, September 16th. Guggenheim lifted their price target on Neurocrine Biosciences from $170.00 to $180.00 and gave the stock a "buy" rating in a research note on Friday, August 2nd. Jefferies Financial Group increased their price objective on Neurocrine Biosciences from $177.00 to $189.00 and gave the company a "buy" rating in a research note on Monday, August 19th. Finally, Citigroup lifted their target price on shares of Neurocrine Biosciences from $150.00 to $158.00 and gave the stock a "neutral" rating in a research note on Friday, August 2nd. Five investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $162.20.

Insiders Place Their Bets

In related news, Director William H. Rastetter sold 14,250 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $146.69, for a total transaction of $2,090,332.50. Following the sale, the director now directly owns 37,491 shares of the company's stock, valued at approximately $5,499,554.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director William H. Rastetter sold 14,250 shares of the company's stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $146.69, for a total value of $2,090,332.50. Following the transaction, the director now directly owns 37,491 shares of the company's stock, valued at approximately $5,499,554.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Julie Cooke sold 10,000 shares of the stock in a transaction on Monday, July 1st. The shares were sold at an average price of $140.19, for a total value of $1,401,900.00. Following the sale, the insider now owns 18,202 shares in the company, valued at $2,551,738.38. The disclosure for this sale can be found here. Over the last three months, insiders have sold 71,798 shares of company stock valued at $10,676,096. 4.30% of the stock is currently owned by corporate insiders.

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.