Allspring Global Investments Holdings LLC Sells 92,759 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Allspring Global Investments Holdings LLC trimmed its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 19.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 387,806 shares of the company's stock after selling 92,759 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.39% of Neurocrine Biosciences worth $41,495,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its position in shares of Neurocrine Biosciences by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 762,557 shares of the company's stock valued at $104,089,000 after purchasing an additional 15,266 shares during the period. Avantax Advisory Services Inc. raised its position in Neurocrine Biosciences by 11.4% in the fourth quarter. Avantax Advisory Services Inc. now owns 2,895 shares of the company's stock worth $395,000 after acquiring an additional 297 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in Neurocrine Biosciences by 37.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 538 shares of the company's stock valued at $74,000 after acquiring an additional 146 shares during the last quarter. Corient Private Wealth LLC boosted its position in shares of Neurocrine Biosciences by 64.0% during the 4th quarter. Corient Private Wealth LLC now owns 7,927 shares of the company's stock valued at $1,082,000 after purchasing an additional 3,094 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. AG boosted its position in shares of Neurocrine Biosciences by 5.1% during the 4th quarter. B. Metzler seel. Sohn & Co. AG now owns 5,044 shares of the company's stock valued at $689,000 after purchasing an additional 245 shares in the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Neurocrine Biosciences

In other news, Director Kevin Charles Gorman sold 9,613 shares of Neurocrine Biosciences stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $120.38, for a total transaction of $1,157,212.94. Following the completion of the sale, the director directly owned 514,596 shares of the company's stock, valued at approximately $61,947,066.48. The trade was a 1.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director William H. Rastetter sold 30,000 shares of the firm's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $110.20, for a total transaction of $3,306,000.00. Following the completion of the transaction, the director owned 37,491 shares in the company, valued at $4,131,508.20. This represents a 44.45% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 4.80% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Wedbush restated an "outperform" rating on shares of Neurocrine Biosciences in a research report on Tuesday, May 6th. Guggenheim boosted their target price on Neurocrine Biosciences from $155.00 to $165.00 and gave the stock a "buy" rating in a research report on Tuesday, May 6th. HC Wainwright lowered their price objective on shares of Neurocrine Biosciences from $185.00 to $168.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Wall Street Zen lowered Neurocrine Biosciences from a "strong-buy" rating to a "buy" rating in a report on Thursday, March 20th. Finally, Royal Bank Of Canada reissued an "outperform" rating and set a $145.00 price objective on shares of Neurocrine Biosciences in a report on Monday, June 2nd. Three research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company's stock. According to data from MarketBeat, Neurocrine Biosciences has a consensus rating of "Moderate Buy" and a consensus price target of $162.00.

Neurocrine Biosciences Stock Down 1.1%

Neurocrine Biosciences stock traded down $1.37 during trading hours on Friday, reaching $128.04. 387,387 shares of the company's stock were exchanged, compared to its average volume of 1,140,851. Neurocrine Biosciences, Inc. has a twelve month low of $84.23 and a twelve month high of $157.98. The firm's 50 day simple moving average is $121.35 and its 200 day simple moving average is $121.83. The firm has a market capitalization of $12.67 billion, a PE ratio of 43.40, a PEG ratio of 1.32 and a beta of 0.24.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The company reported $0.08 EPS for the quarter, missing analysts' consensus estimates of $0.70 by ($0.62). The business had revenue of $572.60 million for the quarter, compared to analysts' expectations of $587.06 million. Neurocrine Biosciences had a net margin of 12.68% and a return on equity of 11.81%. The business's revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.20 earnings per share. Analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

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.