Principal Financial Group Inc. Has $27.48 Million Stock Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Principal Financial Group Inc. cut its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 1.6% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 248,420 shares of the company's stock after selling 4,049 shares during the period. Principal Financial Group Inc. owned about 0.25% of Neurocrine Biosciences worth $27,475,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Vontobel Holding Ltd. boosted its stake in shares of Neurocrine Biosciences by 17.8% during the 1st quarter. Vontobel Holding Ltd. now owns 9,943 shares of the company's stock worth $1,100,000 after purchasing an additional 1,501 shares during the last quarter. Smallwood Wealth Investment Management LLC acquired a new stake in shares of Neurocrine Biosciences during the 1st quarter worth about $34,000. Peregrine Capital Management LLC boosted its stake in shares of Neurocrine Biosciences by 12.5% during the 1st quarter. Peregrine Capital Management LLC now owns 72,972 shares of the company's stock worth $8,071,000 after purchasing an additional 8,132 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in shares of Neurocrine Biosciences by 10.8% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 16,220 shares of the company's stock worth $1,794,000 after purchasing an additional 1,586 shares during the last quarter. Finally, Golden State Wealth Management LLC boosted its stake in shares of Neurocrine Biosciences by 116.9% during the 1st quarter. Golden State Wealth Management LLC now owns 397 shares of the company's stock worth $44,000 after purchasing an additional 214 shares during the last quarter. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. UBS Group increased their price objective on shares of Neurocrine Biosciences from $152.00 to $174.00 and gave the stock a "buy" rating in a report on Wednesday. HC Wainwright dropped their target price on shares of Neurocrine Biosciences from $185.00 to $168.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. increased their price objective on shares of Neurocrine Biosciences from $183.00 to $184.00 and gave the company an "overweight" rating in a research report on Wednesday, March 26th. Guggenheim raised their price target on shares of Neurocrine Biosciences from $155.00 to $165.00 and gave the stock a "buy" rating in a research report on Tuesday, May 6th. Finally, Piper Sandler reissued an "overweight" rating and set a $154.00 price target (down previously from $160.00) on shares of Neurocrine Biosciences in a research report on Tuesday, May 6th. Three investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $163.91.

Insider Activity

In related news, Director William H. Rastetter sold 30,000 shares of Neurocrine Biosciences stock in a transaction that occurred 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 sale, the director owned 37,491 shares of the company's stock, valued at approximately $4,131,508.20. This trade represents a 44.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jude Onyia sold 20,362 shares of Neurocrine Biosciences stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $130.13, for a total value of $2,649,707.06. Following the completion of the sale, the insider directly owned 18,289 shares in the company, valued at approximately $2,379,947.57. This represents a 52.68% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 59,975 shares of company stock worth $7,112,920 in the last 90 days. Corporate insiders own 4.80% of the company's stock.

Neurocrine Biosciences Trading Up 1.1%

Shares of NBIX traded up $1.41 during trading hours on Thursday, hitting $134.92. 1,051,174 shares of the stock traded hands, compared to its average volume of 1,145,529. Neurocrine Biosciences, Inc. has a 1-year low of $84.23 and a 1-year high of $157.98. The firm has a market capitalization of $13.35 billion, a PE ratio of 45.74, a price-to-earnings-growth ratio of 1.37 and a beta of 0.24. The business has a fifty day moving average of $123.15 and a 200-day moving average of $121.67.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last released its earnings results on Monday, May 5th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.62). Neurocrine Biosciences had a net margin of 12.68% and a return on equity of 11.81%. The company had revenue of $572.60 million during the quarter, compared to analyst estimates of $587.06 million. During the same period in the previous year, the company posted $1.20 EPS. The company's quarterly revenue was up 11.1% compared to the same quarter last year. As a group, equities research analysts expect that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

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.