Corebridge Financial Inc. Has $12.30 Million Stock Holdings in Neurocrine Biosciences, Inc. $NBIX

Key Points

• Corebridge Financial Inc. reduced its holdings in Neurocrine Biosciences by 3.9%, now owning 111,227 shares valued at approximately $12.3 million.
• Multiple institutional investors increased their stakes in Neurocrine, with Dimensional Fund Advisors LP and Stifel Financial Corp leading with increases of 5.1% and 24.2% respectively.
• Analysts have a consensus rating of "Moderate Buy" for Neurocrine Biosciences, with a price target increase from several firms, including JPMorgan raising it to $145.00.

Corebridge Financial Inc. lessened its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 3.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 111,227 shares of the company's stock after selling 4,472 shares during the period. Corebridge Financial Inc. owned 0.11% of Neurocrine Biosciences worth $12,302,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Utah Retirement Systems grew its holdings in shares of Neurocrine Biosciences by 0.6% during 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 in the last quarter. DE Burlo Group Inc. boosted its stake in Neurocrine Biosciences by 2.2% during the first quarter. DE Burlo Group Inc. now owns 4,717 shares of the company's stock worth $522,000 after buying an additional 100 shares in the last quarter. Sheaff Brock Investment Advisors LLC boosted its stake in Neurocrine Biosciences by 4.8% during the first quarter. Sheaff Brock Investment Advisors LLC now owns 2,619 shares of the company's stock worth $290,000 after buying an additional 120 shares in the last quarter. Aurora Investment Counsel boosted its stake in Neurocrine Biosciences by 1.3% during the first quarter. Aurora Investment Counsel now owns 10,520 shares of the company's stock worth $1,164,000 after buying an additional 138 shares in the last quarter. Finally, Illumine Investment Management LLC boosted its stake in Neurocrine Biosciences by 1.5% during the first quarter. Illumine Investment Management LLC now owns 9,641 shares of the company's stock worth $1,066,000 after buying an additional 139 shares in the last quarter. Institutional investors and hedge funds own 92.59% of the company's stock.

Insider Buying and Selling at Neurocrine Biosciences

In other news, Director Kevin Charles Gorman sold 106,322 shares of the stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $126.41, for a total value of $13,440,164.02. Following the transaction, the director owned 514,596 shares of the company's stock, valued at $65,050,080.36. This represents a 17.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jude Onyia sold 59,819 shares of the stock in a transaction on Wednesday, July 9th. The shares were sold at an average price of $130.46, for a total value 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. This trade represents a 76.58% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 186,960 shares of company stock worth $23,955,553. Company insiders own 4.30% of the company's stock.

Neurocrine Biosciences Price Performance

Shares of NBIX stock traded up $0.66 during trading hours on Monday, reaching $139.60. 503,700 shares of the company were exchanged, compared to its average volume of 801,610. The stock's fifty day moving average is $131.53 and its two-hundred day moving average is $119.61. Neurocrine Biosciences, Inc. has a fifty-two week low of $84.23 and a fifty-two week high of $154.61. The company has a market cap of $13.85 billion, a price-to-earnings ratio of 41.30, a P/E/G ratio of 1.01 and a beta of 0.28.

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

Wall Street Analyst Weigh In

NBIX has been the topic of several recent research reports. BMO Capital Markets lifted their target price on shares of Neurocrine Biosciences from $96.00 to $115.00 and gave the company a "market perform" rating in a research report on Tuesday, May 6th. Canaccord Genuity Group boosted their price target on Neurocrine Biosciences from $158.00 to $160.00 and gave the company a "buy" rating in a research note on Tuesday, May 6th. Royal Bank Of Canada decreased their price target on Neurocrine Biosciences from $146.00 to $144.00 and set an "outperform" rating on the stock in a research note on Thursday, July 31st. Guggenheim boosted their price target on Neurocrine Biosciences from $165.00 to $175.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Finally, Wall Street Zen upgraded shares of Neurocrine Biosciences from a "hold" rating to a "strong-buy" rating in a research note on Saturday, August 2nd. Eighteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $159.50.

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.