Allspring Global Investments Holdings LLC Sells 20,614 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Allspring Global Investments Holdings LLC reduced its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 2.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 689,986 shares of the company's stock after selling 20,614 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.69% of Neurocrine Biosciences worth $79,500,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in NBIX. RFP Financial Group LLC increased its holdings in shares of Neurocrine Biosciences by 346.5% in the first quarter. RFP Financial Group LLC now owns 192 shares of the company's stock valued at $26,000 after buying an additional 149 shares in the last quarter. Mather Group LLC. purchased a new stake in shares of Neurocrine Biosciences during the first quarter valued at $26,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of Neurocrine Biosciences in the 2nd quarter valued at $28,000. Innealta Capital LLC purchased a new position in Neurocrine Biosciences in the 2nd quarter worth about $30,000. Finally, New Covenant Trust Company N.A. acquired a new stake in Neurocrine Biosciences during the 1st quarter worth about $32,000. 92.59% of the stock is owned by institutional investors and hedge funds.

Neurocrine Biosciences Price Performance

NBIX traded down $1.44 on Monday, hitting $116.57. The company had a trading volume of 550,819 shares, compared to its average volume of 851,564. The stock has a market cap of $11.73 billion, a price-to-earnings ratio of 32.11 and a beta of 0.36. The company's fifty day moving average price is $125.40 and its 200 day moving average price is $134.63. Neurocrine Biosciences, Inc. has a 1-year low of $103.63 and a 1-year high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.63 earnings per share for the quarter, missing analysts' consensus estimates of $1.15 by ($0.52). Neurocrine Biosciences had a return on equity of 14.86% and a net margin of 16.00%. The firm had revenue of $590.20 million during the quarter, compared to analyst estimates of $545.98 million. During the same quarter in the previous year, the firm posted $0.95 earnings per share. Neurocrine Biosciences's quarterly revenue was up 30.4% compared to the same quarter last year. On average, sell-side analysts forecast that Neurocrine Biosciences, Inc. will post 4.19 EPS for the current year.

Insiders Place Their Bets

In other news, insider Julie Cooke sold 12,632 shares of the firm's stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $153.26, for a total value of $1,935,980.32. Following the sale, the insider now directly owns 18,202 shares of the company's stock, valued at approximately $2,789,638.52. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Julie Cooke sold 12,632 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $153.26, for a total value of $1,935,980.32. Following the completion of the sale, the insider now directly owns 18,202 shares of the company's stock, valued at approximately $2,789,638.52. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ingrid Delaet sold 273 shares of the business's stock in a transaction on Tuesday, August 6th. The stock was 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 position. The disclosure for this sale can be found here. Insiders sold a total of 59,968 shares of company stock valued at $8,999,632 in the last quarter. Insiders own 4.30% of the company's stock.

Wall Street Analyst Weigh In

NBIX has been the subject of several recent analyst reports. Raymond James reiterated an "outperform" rating and issued a $155.00 target price on shares of Neurocrine Biosciences in a report on Thursday, October 10th. HC Wainwright reiterated a "buy" rating and set a $190.00 price objective on shares of Neurocrine Biosciences in a research report on Thursday, August 29th. Royal Bank of Canada reduced their target price on Neurocrine Biosciences from $136.00 to $133.00 and set a "sector perform" rating for the company in a report on Friday, October 4th. BMO Capital Markets lowered their price target on Neurocrine Biosciences from $128.00 to $114.00 and set a "market perform" rating on the stock in a report on Thursday. Finally, Barclays reduced their price objective on Neurocrine Biosciences from $180.00 to $160.00 and set an "overweight" rating for the company in a research note on Monday, September 9th. Five investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $163.91.

Neurocrine Biosciences Company 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.