Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Holdings Cut by M&T Bank Corp

M&T Bank Corp decreased its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 39.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,238 shares of the company's stock after selling 2,740 shares during the period. M&T Bank Corp's holdings in Neurocrine Biosciences were worth $469,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Huntington National Bank grew its holdings 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 acquiring an additional 97 shares during the period. Smallwood Wealth Investment Management LLC purchased a new stake in Neurocrine Biosciences in the 1st quarter valued at approximately $34,000. GeoWealth Management LLC lifted its stake in Neurocrine Biosciences by 65.4% in the 4th quarter. GeoWealth Management LLC now owns 258 shares of the company's stock valued at $35,000 after buying an additional 102 shares in the last quarter. Golden State Wealth Management LLC lifted its stake in Neurocrine Biosciences by 116.9% in the 1st quarter. Golden State Wealth Management LLC now owns 397 shares of the company's stock valued at $44,000 after buying an additional 214 shares in the last quarter. Finally, Versant Capital Management Inc lifted its stake in Neurocrine Biosciences by 404.9% in the 1st quarter. Versant Capital Management Inc now owns 409 shares of the company's stock valued at $45,000 after buying an additional 328 shares in the last quarter. Institutional investors and hedge funds own 92.59% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on NBIX shares. BMO Capital Markets upped their target price on Neurocrine Biosciences from $96.00 to $115.00 and gave the company a "market perform" rating in a research note on Tuesday, May 6th. UBS Group upped their target price on Neurocrine Biosciences from $152.00 to $174.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. Needham & Company LLC upped their target price on Neurocrine Biosciences from $138.00 to $139.00 and gave the company a "buy" rating in a research note on Tuesday, May 6th. Evercore ISI reduced their price target on Neurocrine Biosciences from $190.00 to $185.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. Finally, JPMorgan Chase & Co. increased their price target on Neurocrine Biosciences from $183.00 to $184.00 and gave the stock an "overweight" rating in a research note on Wednesday, March 26th. Three analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $163.91.

Insiders Place Their Bets

In related news, Director Kevin Charles Gorman sold 9,613 shares of Neurocrine Biosciences stock in a transaction dated 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 completion of the transaction, the director directly owned 514,596 shares in the company, valued at approximately $61,947,066.48. This trade represents a 1.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director William H. Rastetter sold 30,000 shares of Neurocrine Biosciences stock in a transaction dated 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 completion of the transaction, the director owned 37,491 shares of the company's stock, valued at $4,131,508.20. This trade represents a 44.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 120,251 shares of company stock valued at $14,978,602 over the last ninety days. Insiders own 4.80% of the company's stock.

Neurocrine Biosciences Price Performance

NASDAQ NBIX traded up $0.63 during trading hours on Thursday, hitting $134.11. The company had a trading volume of 674,476 shares, compared to its average volume of 1,146,525. Neurocrine Biosciences, Inc. has a fifty-two week low of $84.23 and a fifty-two week high of $157.98. The company has a market capitalization of $13.27 billion, a price-to-earnings ratio of 45.46, a P/E/G ratio of 1.35 and a beta of 0.24. The firm's 50 day moving average is $125.18 and its 200 day moving average is $121.53.

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 (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.62). The company had revenue of $572.60 million during the quarter, compared to analyst estimates of $587.06 million. Neurocrine Biosciences had a net margin of 12.68% and a return on equity of 11.81%. The firm's revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.20 earnings per share. On average, equities analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

Neurocrine Biosciences 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.