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

Allspring Global Investments Holdings LLC decreased its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 30.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 480,565 shares of the company’s stock after selling 209,421 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.47% of Neurocrine Biosciences worth $66,246,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Cetera Investment Advisers lifted its stake in Neurocrine Biosciences by 7.9% in the 2nd quarter. Cetera Investment Advisers now owns 7,112 shares of the company’s stock worth $979,000 after purchasing an additional 519 shares in the last quarter. CWM LLC lifted its stake in Neurocrine Biosciences by 15.1% in the 3rd quarter. CWM LLC now owns 7,884 shares of the company’s stock worth $908,000 after purchasing an additional 1,035 shares in the last quarter. Exchange Traded Concepts LLC lifted its stake in Neurocrine Biosciences by 29.3% in the 3rd quarter. Exchange Traded Concepts LLC now owns 7,964 shares of the company’s stock worth $918,000 after purchasing an additional 1,803 shares in the last quarter. Creative Planning lifted its stake in Neurocrine Biosciences by 12.3% in the 3rd quarter. Creative Planning now owns 12,999 shares of the company’s stock worth $1,498,000 after purchasing an additional 1,426 shares in the last quarter. Finally, Vontobel Holding Ltd. lifted its stake in Neurocrine Biosciences by 12.7% in the 3rd quarter. Vontobel Holding Ltd. now owns 14,590 shares of the company’s stock worth $1,681,000 after purchasing an additional 1,639 shares in the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Neurocrine Biosciences Price Performance

Neurocrine Biosciences stock opened at $116.87 on Friday. The stock has a market cap of $11.65 billion, a price-to-earnings ratio of 35.52 and a beta of 0.33. Neurocrine Biosciences, Inc. has a 1 year low of $110.95 and a 1 year high of $157.98. The firm has a 50-day moving average of $138.28 and a two-hundred day moving average of $130.92.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings data on Thursday, February 6th. The company reported $1.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.62 by ($0.62). Neurocrine Biosciences had a net margin of 14.49% and a return on equity of 13.45%. Research analysts expect that Neurocrine Biosciences, Inc. will post 6.53 earnings per share for the current year.

Insider Buying and Selling at Neurocrine Biosciences

In other news, insider Jude Onyia sold 2,331 shares of the stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $126.29, for a total transaction of $294,381.99. Following the transaction, the insider now directly owns 15,449 shares in the company, valued at approximately $1,951,054.21. This trade represents a 13.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kevin Charles Gorman sold 146,105 shares of the stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $149.46, for a total transaction of $21,836,853.30. Following the transaction, the director now owns 514,596 shares in the company, valued at approximately $76,911,518.16. This represents a 22.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 226,647 shares of company stock valued at $33,186,271 in the last three months. Company insiders own 4.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. BMO Capital Markets decreased their price target on shares of Neurocrine Biosciences from $128.00 to $114.00 and set a “market perform” rating on the stock in a research note on Thursday, October 17th. UBS Group boosted their target price on shares of Neurocrine Biosciences from $162.00 to $176.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. HC Wainwright reduced their target price on shares of Neurocrine Biosciences from $190.00 to $185.00 and set a “buy” rating on the stock in a report on Friday, February 7th. Barclays boosted their target price on shares of Neurocrine Biosciences from $160.00 to $165.00 and gave the stock an “overweight” rating in a report on Monday, December 23rd. Finally, Wedbush reduced their target price on shares of Neurocrine Biosciences from $157.00 to $147.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $166.90.

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.