Prudential Financial Inc. Has $28.69 Million Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Prudential Financial Inc. increased its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 18.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 210,175 shares of the company's stock after buying an additional 33,450 shares during the period. Prudential Financial Inc. owned 0.21% of Neurocrine Biosciences worth $28,689,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Louisiana State Employees Retirement System raised its position in shares of Neurocrine Biosciences by 0.4% during the 4th quarter. Louisiana State Employees Retirement System now owns 28,100 shares of the company's stock valued at $3,836,000 after acquiring an additional 100 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of Neurocrine Biosciences by 0.5% during the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 22,361 shares of the company's stock worth $3,052,000 after purchasing an additional 103 shares during the period. Metis Global Partners LLC increased its holdings in Neurocrine Biosciences by 4.3% in the fourth quarter. Metis Global Partners LLC now owns 2,548 shares of the company's stock valued at $348,000 after purchasing an additional 104 shares during the last quarter. Commerce Bank lifted its stake in Neurocrine Biosciences by 2.6% in the third quarter. Commerce Bank now owns 4,199 shares of the company's stock valued at $484,000 after buying an additional 108 shares during the period. Finally, Brooklyn Investment Group boosted its holdings in Neurocrine Biosciences by 99.1% during the fourth quarter. Brooklyn Investment Group now owns 231 shares of the company's stock worth $32,000 after buying an additional 115 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. StockNews.com cut Neurocrine Biosciences from a "strong-buy" rating to a "buy" rating in a research note on Thursday, March 20th. William Blair reaffirmed an "outperform" rating on shares of Neurocrine Biosciences in a research note on Friday, February 7th. Canaccord Genuity Group cut their target price on shares of Neurocrine Biosciences from $172.00 to $163.00 and set a "buy" rating on the stock in a report on Friday, February 7th. Piper Sandler reissued an "overweight" rating and issued a $160.00 price target on shares of Neurocrine Biosciences in a report on Monday, December 23rd. Finally, UBS Group raised their price objective on Neurocrine Biosciences from $162.00 to $176.00 and gave the stock a "buy" rating in a research note on Thursday, January 30th. Five equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $165.38.

Neurocrine Biosciences Stock Performance

Neurocrine Biosciences stock traded down $0.84 during mid-day trading on Friday, reaching $113.16. The company's stock had a trading volume of 800,768 shares, compared to its average volume of 981,987. Neurocrine Biosciences, Inc. has a 12 month low of $105.18 and a 12 month high of $157.98. The business's 50 day simple moving average is $124.17 and its 200 day simple moving average is $124.96. The company has a market capitalization of $11.28 billion, a price-to-earnings ratio of 34.40, a price-to-earnings-growth ratio of 0.77 and a beta of 0.35.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The company reported $1.00 earnings per share 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 13.38%. As a group, sell-side analysts expect that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

Neurocrine Biosciences declared that its board has approved a share repurchase program on Friday, February 21st that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to reacquire up to 4.2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its stock is undervalued.

Insider Buying and Selling at Neurocrine Biosciences

In related news, CFO Matt Abernethy sold 2,558 shares of the firm's stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $116.86, for a total value of $298,927.88. Following the completion of the transaction, the chief financial officer now directly owns 34,775 shares of the company's stock, valued at approximately $4,063,806.50. This trade represents a 6.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ingrid Delaet sold 272 shares of the company's stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $138.10, for a total transaction of $37,563.20. Following the sale, the insider now directly owns 2,507 shares in the company, valued at $346,216.70. This trade represents a 9.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 233,178 shares of company stock worth $33,906,594 over the last ninety days. 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.