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

Principal Financial Group Inc. lowered its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 1.6% in the first quarter, according to the company in 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.

Other large investors have also made changes to their positions in the company. Huntington National Bank increased its holdings in Neurocrine Biosciences by 73.5% during the 4th 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. Smallwood Wealth Investment Management LLC bought a new position in Neurocrine Biosciences during the 1st quarter worth about $34,000. GeoWealth Management LLC increased its holdings in Neurocrine Biosciences by 65.4% during the 4th 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. 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 purchasing an additional 214 shares during 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 purchasing an additional 328 shares during the last quarter. Institutional investors own 92.59% of the company's stock.

Insider Buying and Selling

In related news, Director Kevin Charles Gorman sold 9,613 shares of the business's stock in a transaction 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 $61,947,066.48. The trade was a 1.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jude Onyia sold 20,362 shares of the business's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $130.13, for a total transaction of $2,649,707.06. Following the completion of the transaction, the insider owned 18,289 shares in the company, valued at approximately $2,379,947.57. The trade was a 52.68% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 59,975 shares of company stock valued at $7,112,920 over the last 90 days. 4.80% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Canaccord Genuity Group raised their target price on shares of Neurocrine Biosciences from $158.00 to $160.00 and gave the company a "buy" rating in a research note on Tuesday, May 6th. BMO Capital Markets upped their price objective on shares of Neurocrine Biosciences from $96.00 to $115.00 and gave the company a "market perform" rating in a report on Tuesday, May 6th. Piper Sandler reiterated an "overweight" rating and issued a $154.00 price objective (down from $160.00) on shares of Neurocrine Biosciences in a report on Tuesday, May 6th. The Goldman Sachs Group assumed coverage on shares of Neurocrine Biosciences in a research report on Thursday. They set a "buy" rating and a $182.00 price objective for the company. Finally, Needham & Company LLC raised their price objective 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. Three equities research 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 presently has an average rating of "Moderate Buy" and an average price target of $163.91.

Neurocrine Biosciences Stock Down 1.1%

Shares of NASDAQ NBIX traded down $1.46 during midday trading on Friday, reaching $133.46. 716,610 shares of the company were exchanged, compared to its average volume of 1,332,185. The stock's 50-day moving average price is $123.15 and its 200-day moving average price is $121.67. The stock has a market cap of $13.21 billion, a P/E ratio of 45.24, a PEG ratio of 1.37 and a beta of 0.24. Neurocrine Biosciences, Inc. has a one year low of $84.23 and a one year high of $157.98.

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