Jennison Associates LLC Sells 16,228 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Jennison Associates LLC cut its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 2.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 804,466 shares of the company's stock after selling 16,228 shares during the quarter. Jennison Associates LLC owned about 0.81% of Neurocrine Biosciences worth $88,974,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. OneDigital Investment Advisors LLC raised its position in shares of Neurocrine Biosciences by 2.1% during the 4th quarter. OneDigital Investment Advisors LLC now owns 4,215 shares of the company's stock worth $575,000 after buying an additional 87 shares in the last quarter. HighPoint Advisor Group LLC grew its stake in shares of Neurocrine Biosciences by 4.1% in the 4th quarter. HighPoint Advisor Group LLC now owns 2,446 shares of the company's stock worth $334,000 after purchasing an additional 96 shares during the last quarter. Huntington National Bank grew its stake in shares of Neurocrine Biosciences by 73.5% in the 4th quarter. Huntington National Bank now owns 229 shares of the company's stock worth $31,000 after purchasing an additional 97 shares during the last quarter. Utah Retirement Systems grew its stake in shares of Neurocrine Biosciences by 0.6% in the 4th quarter. Utah Retirement Systems now owns 16,583 shares of the company's stock worth $2,264,000 after purchasing an additional 100 shares during the last quarter. Finally, GeoWealth Management LLC grew its stake in shares of Neurocrine Biosciences by 65.4% in the 4th quarter. GeoWealth Management LLC now owns 258 shares of the company's stock worth $35,000 after purchasing an additional 102 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Neurocrine Biosciences from $183.00 to $184.00 and gave the stock an "overweight" rating in a research note on Wednesday, March 26th. HC Wainwright dropped their target price 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. Truist Financial started coverage on shares of Neurocrine Biosciences in a research report on Monday. They issued a "buy" rating and a $163.00 target price on the stock. Evercore ISI dropped their target price on shares of Neurocrine Biosciences from $190.00 to $185.00 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. Finally, UBS Group lifted their target price on shares of Neurocrine Biosciences from $152.00 to $174.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Three investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. Based on data from MarketBeat.com, Neurocrine Biosciences has an average rating of "Moderate Buy" and a consensus price target of $163.87.

Neurocrine Biosciences Stock Performance

Shares of Neurocrine Biosciences stock traded up $0.27 on Monday, reaching $132.29. The stock had a trading volume of 192,412 shares, compared to its average volume of 1,301,269. The business's 50-day moving average price is $125.84 and its two-hundred day moving average price is $121.26. Neurocrine Biosciences, Inc. has a fifty-two week low of $84.23 and a fifty-two week high of $157.98. The stock has a market cap of $13.09 billion, a P/E ratio of 44.84, a price-to-earnings-growth ratio of 1.35 and a beta of 0.24.

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 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 firm had revenue of $572.60 million during the quarter, compared to analyst estimates of $587.06 million. During the same quarter in the previous year, the firm posted $1.20 earnings per share. Neurocrine Biosciences's quarterly revenue was up 11.1% compared to the same quarter last year. As a group, equities analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

Insider Activity at Neurocrine Biosciences

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 transaction of $1,157,212.94. Following the transaction, the director 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jude Onyia sold 59,819 shares of the business's stock in a transaction on Wednesday, July 9th. The stock was sold at an average price of $130.46, for a total transaction of $7,803,986.74. Following the transaction, the insider directly owned 18,289 shares in the company, valued at $2,385,982.94. This trade represents a 76.58% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 120,251 shares of company stock worth $14,978,602. 4.30% of the stock is owned by insiders.

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.