Allspring Global Investments Holdings LLC Boosts Stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Allspring Global Investments Holdings LLC lifted its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 81.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 410,103 shares of the company's stock after acquiring an additional 184,660 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.42% of Neurocrine Biosciences worth $54,035,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Rice Hall James & Associates LLC raised its holdings in Neurocrine Biosciences by 195.5% in the 1st quarter. Rice Hall James & Associates LLC now owns 206,755 shares of the company's stock valued at $19,383,000 after acquiring an additional 136,782 shares during the period. HighTower Advisors LLC increased its stake in shares of Neurocrine Biosciences by 48.8% during the first quarter. HighTower Advisors LLC now owns 5,745 shares of the company's stock worth $544,000 after purchasing an additional 1,883 shares during the period. PNC Financial Services Group Inc. lifted its holdings in Neurocrine Biosciences by 27.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,150 shares of the company's stock worth $296,000 after purchasing an additional 684 shares during the last quarter. Acadian Asset Management LLC bought a new stake in Neurocrine Biosciences in the 1st quarter valued at $27,000. Finally, Dimensional Fund Advisors LP grew its holdings in Neurocrine Biosciences by 39.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 417,604 shares of the company's stock valued at $39,148,000 after buying an additional 117,422 shares in the last quarter. 92.59% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NBIX has been the subject of a number of recent research reports. JPMorgan Chase & Co. boosted their target price on shares of Neurocrine Biosciences from $148.00 to $158.00 and gave the company an "overweight" rating in a research report on Wednesday, March 20th. Mizuho increased their target price on shares of Neurocrine Biosciences from $116.00 to $140.00 and gave the stock a "neutral" rating in a research report on Thursday, February 8th. Citigroup dropped their price target on shares of Neurocrine Biosciences from $141.00 to $140.00 and set a "neutral" rating for the company in a research report on Thursday, February 8th. StockNews.com raised Neurocrine Biosciences from a "buy" rating to a "strong-buy" rating in a research report on Thursday, February 8th. Finally, Wells Fargo & Company raised their price objective on Neurocrine Biosciences from $127.00 to $140.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 8th. Six equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $139.25.

Neurocrine Biosciences Stock Performance

Shares of Neurocrine Biosciences stock traded down $2.16 on Thursday, hitting $135.93. The stock had a trading volume of 808,737 shares, compared to its average volume of 857,509. The stock has a 50 day moving average of $136.92 and a 200 day moving average of $126.13. The firm has a market capitalization of $13.53 billion, a P/E ratio of 56.17, a PEG ratio of 0.90 and a beta of 0.25. Neurocrine Biosciences, Inc. has a twelve month low of $89.04 and a twelve month high of $148.37.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last released its quarterly earnings results on Wednesday, February 7th. The company reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.31. The firm had revenue of $515.20 million during the quarter, compared to the consensus estimate of $518.52 million. Neurocrine Biosciences had a net margin of 13.23% and a return on equity of 12.85%. The company's revenue for the quarter was up 25.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.88 earnings per share. Equities analysts expect that Neurocrine Biosciences, Inc. will post 4.83 earnings per share for the current year.

Insider Buying and Selling at Neurocrine Biosciences

In other Neurocrine Biosciences news, Director Richard F. Pops sold 15,000 shares of the firm's stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $132.47, for a total value of $1,987,050.00. Following the transaction, the director now directly owns 29,512 shares of the company's stock, valued at $3,909,454.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Richard F. Pops sold 15,000 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $132.47, for a total value of $1,987,050.00. Following the completion of the sale, the director now directly owns 29,512 shares of the company's stock, valued at $3,909,454.64. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Ingrid Delaet sold 5,000 shares of Neurocrine Biosciences stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $145.06, for a total value of $725,300.00. Following the transaction, the insider now directly owns 7,507 shares in the company, valued at approximately $1,088,965.42. The disclosure for this sale can be found here. In the last quarter, insiders have sold 177,176 shares of company stock worth $24,562,081. Insiders own 4.60% of the company's stock.

Neurocrine Biosciences Company 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.