Allspring Global Investments Holdings LLC Has $47.72 Million Holdings in Neurocrine Biosciences, Inc. $NBIX

Allspring Global Investments Holdings LLC lowered its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 11.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 339,432 shares of the company’s stock after selling 43,009 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Neurocrine Biosciences were worth $47,724,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of NBIX. AQR Capital Management LLC raised its holdings in shares of Neurocrine Biosciences by 83.7% during the third quarter. AQR Capital Management LLC now owns 2,773,648 shares of the company’s stock worth $388,435,000 after acquiring an additional 1,263,633 shares in the last quarter. Norges Bank purchased a new position in Neurocrine Biosciences in the second quarter valued at about $122,278,000. JPMorgan Chase & Co. increased its position in Neurocrine Biosciences by 11.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,730,152 shares of the company’s stock worth $664,019,000 after purchasing an additional 468,405 shares during the last quarter. Two Sigma Investments LP purchased a new stake in shares of Neurocrine Biosciences during the 3rd quarter worth about $48,791,000. Finally, Adage Capital Partners GP L.L.C. purchased a new stake in shares of Neurocrine Biosciences during the 2nd quarter worth about $42,933,000. Institutional investors and hedge funds own 92.59% of the company’s stock.

Neurocrine Biosciences Trading Up 0.6%

NBIX opened at $132.56 on Thursday. The business has a 50 day moving average of $131.77 and a 200-day moving average of $139.25. The stock has a market capitalization of $13.30 billion, a price-to-earnings ratio of 28.45, a P/E/G ratio of 0.69 and a beta of 0.35. Neurocrine Biosciences, Inc. has a 1-year low of $84.23 and a 1-year high of $160.18.

Neurocrine Biosciences (NASDAQ:NBIX) last released its earnings results on Wednesday, February 11th. The company reported $1.88 earnings per share for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.48). Neurocrine Biosciences had a return on equity of 16.48% and a net margin of 16.73%.The firm had revenue of $805.50 million for the quarter, compared to analyst estimates of $804.21 million. During the same period last year, the business earned $1.69 earnings per share. The firm’s quarterly revenue was up 28.3% compared to the same quarter last year. Equities analysts predict that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

Insider Buying and Selling at Neurocrine Biosciences

In other Neurocrine Biosciences news, CEO Kyle Gano sold 36,400 shares of the company’s stock in a transaction on Friday, January 16th. The stock was sold at an average price of $132.70, for a total value of $4,830,280.00. Following the sale, the chief executive officer directly owned 140,407 shares in the company, valued at $18,632,008.90. This represents a 20.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 4.80% of the company’s stock.

Wall Street Analyst Weigh In

NBIX has been the subject of several recent research reports. Zacks Research cut Neurocrine Biosciences from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 17th. TD Cowen lifted their target price on shares of Neurocrine Biosciences from $175.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, December 5th. Wells Fargo & Company decreased their target price on shares of Neurocrine Biosciences from $180.00 to $175.00 and set an “overweight” rating for the company in a research report on Friday, February 13th. BMO Capital Markets dropped their price target on shares of Neurocrine Biosciences from $147.00 to $140.00 and set a “market perform” rating on the stock in a research note on Thursday, February 12th. Finally, Royal Bank Of Canada cut their price target on shares of Neurocrine Biosciences from $180.00 to $177.00 and set an “outperform” rating on the stock in a report on Thursday, February 12th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Neurocrine Biosciences has a consensus rating of “Moderate Buy” and a consensus price target of $175.10.

Neurocrine Biosciences Company Profile

Neurocrine Biosciences (NASDAQ: NBIX) is a biopharmaceutical company based in San Diego, California, focused on developing treatments for neurological, endocrine and neuropsychiatric disorders. Since its founding in 1992, the company has pursued a research‐driven strategy aimed at addressing unmet medical needs in movement disorders, reproductive health and central nervous system conditions. Neurocrine’s operations encompass drug discovery, clinical development and commercialization activities.

The company’s lead marketed product, Ingrezza™ (valbenazine), is indicated for the treatment of tardive dyskinesia, a movement disorder associated with long-term antipsychotic use.