Principal Financial Group Inc. Sells 120,576 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Principal Financial Group Inc. decreased its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 32.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 253,186 shares of the company's stock after selling 120,576 shares during the period. Principal Financial Group Inc. owned 0.25% of Neurocrine Biosciences worth $29,172,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. RFP Financial Group LLC raised its position in shares of Neurocrine Biosciences by 346.5% during 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 during the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in shares of Neurocrine Biosciences during the second quarter worth $28,000. Innealta Capital LLC bought a new stake in shares of Neurocrine Biosciences during the second quarter worth $30,000. New Covenant Trust Company N.A. bought a new position in shares of Neurocrine Biosciences in the 1st quarter valued at about $32,000. Finally, EdgeRock Capital LLC bought a new position in shares of Neurocrine Biosciences in the 2nd quarter valued at about $35,000. Institutional investors and hedge funds own 92.59% of the company's stock.

Neurocrine Biosciences Price Performance

Shares of NBIX stock traded down $1.16 on Wednesday, hitting $125.85. The stock had a trading volume of 317,560 shares, compared to its average volume of 863,065. The business has a 50 day moving average of $118.43 and a 200 day moving average of $132.99. The stock has a market cap of $12.74 billion, a price-to-earnings ratio of 33.86 and a beta of 0.35. Neurocrine Biosciences, Inc. has a 12-month low of $107.84 and a 12-month high of $157.98.

Analyst Ratings Changes

A number of brokerages have recently commented on NBIX. Jefferies Financial Group lifted their price objective on shares of Neurocrine Biosciences from $177.00 to $189.00 and gave the company a "buy" rating in a research report on Monday, August 19th. Citigroup lifted their price objective on shares of Neurocrine Biosciences from $150.00 to $158.00 and gave the company a "neutral" rating in a research report on Friday, August 2nd. Raymond James reissued an "outperform" rating and issued a $155.00 price objective on shares of Neurocrine Biosciences in a research report on Thursday, October 10th. Barclays cut their target price on shares of Neurocrine Biosciences from $180.00 to $160.00 and set an "overweight" rating for the company in a research note on Monday, September 9th. Finally, Oppenheimer raised their target price on shares of Neurocrine Biosciences from $216.00 to $219.00 and gave the stock an "outperform" rating in a research note on Friday, August 2nd. Five research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Neurocrine Biosciences has a consensus rating of "Moderate Buy" and an average price target of $163.91.

Insider Buying and Selling

In other Neurocrine Biosciences 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 completion of the transaction, the director now owns 37,491 shares in the company, valued at $5,499,554.79. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 4.30% of the stock is currently 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.