Bank of New York Mellon Corp Has $91.65 Million Stock Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Bank of New York Mellon Corp decreased its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 4.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 828,682 shares of the company's stock after selling 41,608 shares during the period. Bank of New York Mellon Corp owned 0.84% of Neurocrine Biosciences worth $91,652,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. IFM Investors Pty Ltd lifted its position in shares of Neurocrine Biosciences by 2.5% in the first quarter. IFM Investors Pty Ltd now owns 19,459 shares of the company's stock worth $2,242,000 after buying an additional 469 shares during the last quarter. GF Fund Management CO. LTD. raised its holdings in Neurocrine Biosciences by 22.0% in the 1st quarter. GF Fund Management CO. LTD. now owns 2,593 shares of the company's stock valued at $287,000 after acquiring an additional 467 shares in the last quarter. Vontobel Holding Ltd. grew its stake in shares of Neurocrine Biosciences by 17.8% in the 1st quarter. Vontobel Holding Ltd. now owns 9,943 shares of the company's stock valued at $1,100,000 after purchasing an additional 1,501 shares during the period. Smallwood Wealth Investment Management LLC bought a new stake in shares of Neurocrine Biosciences in the 1st quarter valued at approximately $34,000. Finally, Peregrine Capital Management LLC grew its stake in shares of Neurocrine Biosciences by 12.5% in the 1st quarter. Peregrine Capital Management LLC now owns 72,972 shares of the company's stock valued at $8,071,000 after purchasing an additional 8,132 shares during the period. Institutional investors and hedge funds own 92.59% of the company's stock.

Analysts Set New Price Targets

Several research analysts have issued reports on NBIX shares. Wall Street Zen downgraded Neurocrine Biosciences from a "strong-buy" rating to a "buy" rating in a report on Thursday, March 20th. Royal Bank Of Canada restated an "outperform" rating and issued a $145.00 target price on shares of Neurocrine Biosciences in a research note on Monday, June 2nd. Evercore ISI decreased their price objective on Neurocrine Biosciences from $190.00 to $185.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. Guggenheim lifted their price target on Neurocrine Biosciences from $155.00 to $165.00 and gave the stock a "buy" rating in a report on Tuesday, May 6th. Finally, Needham & Company LLC raised their price objective on shares of Neurocrine Biosciences from $138.00 to $139.00 and gave the stock a "buy" rating in a research report on Tuesday, May 6th. Three research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $163.91.

Neurocrine Biosciences Price Performance

Shares of NBIX opened at $134.92 on Friday. The firm has a 50 day simple moving average of $123.15 and a two-hundred day simple moving average of $121.67. The company has a market cap of $13.35 billion, a P/E ratio of 45.74, a P/E/G ratio of 1.37 and a beta of 0.24. Neurocrine Biosciences, Inc. has a one year low of $84.23 and a one year high of $157.98.

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

Insider Buying and Selling

In related news, Director Kevin Charles Gorman sold 9,613 shares of the business's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $120.38, for a total value of $1,157,212.94. Following the sale, the director owned 514,596 shares of the company's stock, valued at $61,947,066.48. The trade was a 1.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jude Onyia sold 20,362 shares of the business's stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $130.13, for a total transaction of $2,649,707.06. Following the completion of the sale, the insider directly owned 18,289 shares in the company, valued at approximately $2,379,947.57. This represents a 52.68% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 59,975 shares of company stock valued at $7,112,920 over the last 90 days. 4.80% of the stock is owned by 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.

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