Bank of New York Mellon Corp Sells 41,608 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Bank of New York Mellon Corp trimmed its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 4.8% in the first quarter, according to its most recent filing with the SEC. The firm owned 828,682 shares of the company's stock after selling 41,608 shares during the period. Bank of New York Mellon Corp owned approximately 0.84% of Neurocrine Biosciences worth $91,652,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Dodge & Cox lifted its holdings in Neurocrine Biosciences by 134.2% during the 4th quarter. Dodge & Cox now owns 3,016,425 shares of the company's stock valued at $411,742,000 after purchasing an additional 1,728,605 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Neurocrine Biosciences by 102.9% during the 4th quarter. Wellington Management Group LLP now owns 1,457,425 shares of the company's stock valued at $198,939,000 after purchasing an additional 739,199 shares during the last quarter. Thrivent Financial for Lutherans lifted its holdings in Neurocrine Biosciences by 2,759.4% during the 4th quarter. Thrivent Financial for Lutherans now owns 737,772 shares of the company's stock valued at $100,705,000 after purchasing an additional 711,970 shares during the last quarter. Orbimed Advisors LLC lifted its holdings in Neurocrine Biosciences by 210.4% during the 4th quarter. Orbimed Advisors LLC now owns 938,120 shares of the company's stock valued at $128,053,000 after purchasing an additional 635,900 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in Neurocrine Biosciences by 1,405.2% during the 1st quarter. Assenagon Asset Management S.A. now owns 393,455 shares of the company's stock valued at $43,516,000 after purchasing an additional 367,315 shares during the last quarter. 92.59% of the stock is owned by institutional investors.

Neurocrine Biosciences Price Performance

NBIX traded up $1.67 during trading on Monday, reaching $135.13. The company had a trading volume of 612,943 shares, compared to its average volume of 1,144,846. Neurocrine Biosciences, Inc. has a 12 month low of $84.23 and a 12 month high of $157.98. The business's fifty day moving average price is $124.19 and its 200 day moving average price is $121.53. The company has a market cap of $13.37 billion, a P/E ratio of 45.81, a PEG ratio of 1.37 and a beta of 0.24.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last announced its quarterly 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 net margin of 12.68% and a return on equity of 11.81%. The company had revenue of $572.60 million during 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. As a group, sell-side analysts predict that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on NBIX shares. Guggenheim boosted their target price on shares of Neurocrine Biosciences from $155.00 to $165.00 and gave the stock a "buy" rating in a research note on Tuesday, May 6th. The Goldman Sachs Group started coverage on shares of Neurocrine Biosciences in a research note on Thursday. They issued a "buy" rating and a $182.00 target price for the company. BMO Capital Markets boosted their target price on shares of Neurocrine Biosciences from $96.00 to $115.00 and gave the stock a "market perform" rating in a research note on Tuesday, May 6th. Piper Sandler reaffirmed an "overweight" rating and issued a $154.00 target price (down from $160.00) on shares of Neurocrine Biosciences in a research note on Tuesday, May 6th. Finally, Needham & Company LLC boosted their target price on shares of Neurocrine Biosciences from $138.00 to $139.00 and gave the stock a "buy" rating in a research note 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 data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $163.91.

Insider Activity at Neurocrine Biosciences

In other Neurocrine Biosciences news, Director William H. Rastetter sold 30,000 shares of Neurocrine Biosciences stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $110.20, for a total value of $3,306,000.00. Following the transaction, the director owned 37,491 shares of the company's stock, valued at approximately $4,131,508.20. The trade was a 44.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jude Onyia sold 59,819 shares of Neurocrine Biosciences stock in a transaction that occurred on Wednesday, July 9th. The shares were sold at an average price of $130.46, for a total transaction of $7,803,986.74. Following the completion of the transaction, the insider directly owned 18,289 shares in the company, valued at approximately $2,385,982.94. The trade was a 76.58% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 120,251 shares of company stock worth $14,978,602. Corporate insiders own 4.80% of the company's stock.

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.