Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Position Cut by Principal Financial Group Inc.

Principal Financial Group Inc. reduced its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 1.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 248,420 shares of the company's stock after selling 4,049 shares during the period. Principal Financial Group Inc. owned approximately 0.25% of Neurocrine Biosciences worth $27,475,000 at the end of the most recent quarter.

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

Insider Buying and Selling at Neurocrine Biosciences

In related news, Director Kevin Charles Gorman sold 9,613 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $120.38, for a total value of $1,157,212.94. Following the transaction, the director 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 filing with the SEC, which is accessible through the SEC website. Also, insider Jude Onyia sold 20,362 shares of the company's stock in a transaction dated Wednesday, July 2nd. The stock was 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 of the company's stock, valued at $2,379,947.57. The trade was a 52.68% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 59,975 shares of company stock valued at $7,112,920. 4.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on NBIX. Needham & Company LLC increased their price target on shares of Neurocrine Biosciences from $138.00 to $139.00 and gave the stock a "buy" rating in a research report on Tuesday, May 6th. Canaccord Genuity Group increased their price target on shares of Neurocrine Biosciences from $158.00 to $160.00 and gave the stock a "buy" rating in a research report on Tuesday, May 6th. Evercore ISI reduced their price target 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. JPMorgan Chase & Co. increased their price target on shares of Neurocrine Biosciences from $183.00 to $184.00 and gave the stock an "overweight" rating in a research report on Wednesday, March 26th. Finally, Wedbush reissued an "outperform" rating on shares of Neurocrine Biosciences in a research report on Tuesday, May 6th. Three research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $163.05.

Neurocrine Biosciences Price Performance

Shares of NBIX traded up $4.77 during mid-day trading on Wednesday, reaching $133.51. 1,261,236 shares of the company's stock were exchanged, compared to its average volume of 1,142,388. The stock has a market capitalization of $13.21 billion, a PE ratio of 45.26, a price-to-earnings-growth ratio of 1.31 and a beta of 0.24. The business's fifty day simple moving average is $122.63 and its 200-day simple moving average is $121.58. Neurocrine Biosciences, Inc. has a 52-week low of $84.23 and a 52-week high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last announced its earnings results on Monday, May 5th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.70 by ($0.62). The business had revenue of $572.60 million for the quarter, compared to analysts' expectations of $587.06 million. Neurocrine Biosciences had a return on equity of 11.81% and a net margin of 12.68%. The business's revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the business posted $1.20 earnings per share. Equities research analysts predict that Neurocrine Biosciences, Inc. will post 4.28 earnings per share 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.