Bessemer Group Inc. Sells 13,893 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Bessemer Group Inc. lessened its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 67.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,760 shares of the company's stock after selling 13,893 shares during the period. Bessemer Group Inc.'s holdings in Neurocrine Biosciences were worth $747,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. IFP Advisors Inc increased its holdings in Neurocrine Biosciences by 7.3% during the 4th quarter. IFP Advisors Inc now owns 2,020 shares of the company's stock worth $276,000 after purchasing an additional 137 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its position in shares of Neurocrine Biosciences by 1.4% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 13,944 shares of the company's stock worth $1,903,000 after buying an additional 186 shares during the period. Proficio Capital Partners LLC bought a new position in shares of Neurocrine Biosciences during the fourth quarter worth about $4,714,000. Fisher Asset Management LLC raised its position in Neurocrine Biosciences by 34.9% in the 4th quarter. Fisher Asset Management LLC now owns 92,104 shares of the company's stock valued at $12,572,000 after buying an additional 23,834 shares during the last quarter. Finally, US Bancorp DE lifted its stake in Neurocrine Biosciences by 8.0% in the 4th quarter. US Bancorp DE now owns 4,175 shares of the company's stock valued at $570,000 after acquiring an additional 311 shares in the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Neurocrine Biosciences Stock Down 1.1%

Shares of NASDAQ NBIX traded down $1.37 during mid-day trading on Friday, reaching $128.04. 387,387 shares of the company were exchanged, compared to its average volume of 1,140,851. The stock has a market capitalization of $12.67 billion, a P/E ratio of 43.40, a P/E/G ratio of 1.33 and a beta of 0.24. The company's 50-day simple moving average is $120.90 and its 200-day simple moving average is $121.87. Neurocrine Biosciences, Inc. has a twelve month low of $84.23 and a twelve month high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analyst estimates of $587.06 million. During the same quarter last year, the business earned $1.20 earnings per share. The company's revenue was up 11.1% on a year-over-year basis. As a group, equities research analysts expect that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on NBIX. Morgan Stanley reaffirmed an "overweight" rating and set a $150.00 price target (down from $185.00) on shares of Neurocrine Biosciences in a research note on Friday, March 7th. Evercore ISI lowered their price target on shares of Neurocrine Biosciences from $190.00 to $185.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. Piper Sandler restated an "overweight" rating and set a $154.00 price objective (down from $160.00) on shares of Neurocrine Biosciences in a research note on Tuesday, May 6th. Wall Street Zen downgraded Neurocrine Biosciences from a "strong-buy" rating to a "buy" rating in a research report on Thursday, March 20th. Finally, Guggenheim upped their target price on Neurocrine Biosciences from $155.00 to $165.00 and gave the stock a "buy" rating in a report on Tuesday, May 6th. Three equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $162.00.

Insider Activity at Neurocrine Biosciences

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