Vanguard Group Inc. Has $1.10 Billion Stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Vanguard Group Inc. cut its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 1.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,941,887 shares of the company's stock after selling 177,754 shares during the period. Vanguard Group Inc. owned approximately 10.05% of Neurocrine Biosciences worth $1,099,573,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Raiffeisen Bank International AG grew its stake in shares of Neurocrine Biosciences by 42.6% during the first quarter. Raiffeisen Bank International AG now owns 16,258 shares of the company's stock worth $1,839,000 after purchasing an additional 4,858 shares during the period. Jefferies Financial Group Inc. acquired a new stake in shares of Neurocrine Biosciences during the first quarter worth $498,000. Lindenwold Advisors INC acquired a new stake in shares of Neurocrine Biosciences during the first quarter worth $239,000. Tredje AP fonden grew its stake in shares of Neurocrine Biosciences by 295.9% during the first quarter. Tredje AP fonden now owns 37,068 shares of the company's stock worth $4,100,000 after purchasing an additional 27,704 shares during the period. Finally, Vestcor Inc grew its stake in shares of Neurocrine Biosciences by 7.9% during the first quarter. Vestcor Inc now owns 21,431 shares of the company's stock worth $2,370,000 after purchasing an additional 1,565 shares during the period. 92.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on NBIX. Evercore ISI reduced their target price on Neurocrine Biosciences from $190.00 to $185.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th. BMO Capital Markets lifted their target price on Neurocrine Biosciences from $96.00 to $115.00 and gave the stock a "market perform" rating in a report on Tuesday, May 6th. UBS Group lifted their target price on Neurocrine Biosciences from $152.00 to $174.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Wedbush lifted their target price on Neurocrine Biosciences from $137.00 to $141.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. Finally, Royal Bank Of Canada reduced their target price on Neurocrine Biosciences from $146.00 to $144.00 and set an "outperform" rating on the stock in a report on Thursday, July 31st. Three investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $160.90.

Neurocrine Biosciences Stock Up 2.1%

Shares of NASDAQ:NBIX traded up $2.73 during midday trading on Wednesday, reaching $131.62. The company had a trading volume of 1,056,635 shares, compared to its average volume of 1,286,120. The business's 50 day moving average price is $128.93 and its 200 day moving average price is $120.07. The stock has a market cap of $13.05 billion, a PE ratio of 38.94, a P/E/G ratio of 0.89 and a beta of 0.25. Neurocrine Biosciences, Inc. has a 1-year low of $84.23 and a 1-year high of $154.87.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $1.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.98 by $0.08. The business had revenue of $687.50 million for the quarter, compared to the consensus estimate of $653.09 million. Neurocrine Biosciences had a return on equity of 13.22% and a net margin of 13.88%. Neurocrine Biosciences's quarterly revenue was up 16.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.63 earnings per share. On average, research analysts expect that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Neurocrine Biosciences news, insider Jude Onyia sold 59,819 shares of the business's stock in a transaction that occurred 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 owned 18,289 shares of the company's stock, valued at $2,385,982.94. The trade was a 76.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ingrid Delaet sold 457 shares of the business's stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $135.00, for a total value of $61,695.00. Following the transaction, the insider directly owned 4,730 shares in the company, valued at approximately $638,550. This trade represents a 8.81% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 196,573 shares of company stock valued at $25,112,766 over the last 90 days. 4.30% of the stock is currently 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.