Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Holdings Raised by First Horizon Advisors Inc.

First Horizon Advisors Inc. boosted its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 10.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 782 shares of the company’s stock after buying an additional 74 shares during the period. First Horizon Advisors Inc.’s holdings in Neurocrine Biosciences were worth $103,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Assenagon Asset Management S.A. boosted its stake in Neurocrine Biosciences by 120.6% during the third quarter. Assenagon Asset Management S.A. now owns 584,539 shares of the company’s stock valued at $65,761,000 after buying an additional 319,564 shares in the last quarter. Westfield Capital Management Co. LP lifted its holdings in shares of Neurocrine Biosciences by 73.0% during the third quarter. Westfield Capital Management Co. LP now owns 649,292 shares of the company’s stock valued at $73,045,000 after purchasing an additional 273,952 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its position in shares of Neurocrine Biosciences by 59.0% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 692,374 shares of the company’s stock valued at $77,892,000 after purchasing an additional 256,920 shares during the period. Jennison Associates LLC increased its stake in Neurocrine Biosciences by 86.0% in the 3rd quarter. Jennison Associates LLC now owns 409,475 shares of the company’s stock worth $46,066,000 after purchasing an additional 189,345 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in Neurocrine Biosciences by 81.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 410,103 shares of the company’s stock worth $54,035,000 after buying an additional 184,660 shares during the period. Institutional investors and hedge funds own 92.59% of the company’s stock.

Insider Activity

In related news, CEO Kevin Charles Gorman sold 2,274 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $134.15, for a total value of $305,057.10. Following the sale, the chief executive officer now owns 506,962 shares of the company’s stock, valued at $68,008,952.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Kevin Charles Gorman sold 2,274 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $134.15, for a total transaction of $305,057.10. Following the completion of the sale, the chief executive officer now owns 506,962 shares of the company’s stock, valued at $68,008,952.30. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Richard F. Pops sold 15,000 shares of the business’s 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 transaction, the director now directly owns 29,512 shares in the company, valued at $3,909,454.64. The disclosure for this sale can be found here. In the last 90 days, insiders sold 176,771 shares of company stock worth $24,360,922. 4.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on NBIX shares. BMO Capital Markets raised their target price on shares of Neurocrine Biosciences from $129.00 to $138.00 and gave the stock a “market perform” rating in a report on Thursday, May 2nd. JPMorgan Chase & Co. lifted their price objective on shares of Neurocrine Biosciences from $148.00 to $158.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 20th. Oppenheimer increased their target price on Neurocrine Biosciences from $200.00 to $216.00 and gave the company an “outperform” rating in a report on Thursday, May 2nd. Wedbush reiterated an “outperform” rating and set a $147.00 price target on shares of Neurocrine Biosciences in a report on Wednesday, April 17th. Finally, Needham & Company LLC restated a “hold” rating on shares of Neurocrine Biosciences in a research report on Wednesday, May 1st. Six investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, Neurocrine Biosciences presently has a consensus rating of “Moderate Buy” and an average target price of $147.88.

Neurocrine Biosciences Stock Performance

Shares of NBIX opened at $141.71 on Tuesday. Neurocrine Biosciences, Inc. has a 52 week low of $89.04 and a 52 week high of $148.37. The firm has a market capitalization of $14.26 billion, a P/E ratio of 39.04 and a beta of 0.28. The company has a 50-day simple moving average of $137.49 and a 200-day simple moving average of $129.22.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings data on Wednesday, February 7th. The company reported $1.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.31. Neurocrine Biosciences had a return on equity of 17.45% and a net margin of 18.65%. The business had revenue of $515.20 million for the quarter, compared to analysts’ expectations of $518.52 million. During the same period in the previous year, the business posted $0.88 earnings per share. Neurocrine Biosciences’s quarterly revenue was up 25.0% on a year-over-year basis. As a group, equities analysts forecast that Neurocrine Biosciences, Inc. will post 4.78 earnings per share 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.