Russell Investments Group Ltd. Has $10.58 Million Holdings in Neurocrine Biosciences, Inc. $NBIX

Russell Investments Group Ltd. decreased its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 16.3% in the 2nd quarter, Holdings Channel reports. The fund owned 84,169 shares of the company’s stock after selling 16,429 shares during the quarter. Russell Investments Group Ltd.’s holdings in Neurocrine Biosciences were worth $10,578,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cetera Investment Advisers boosted its stake in Neurocrine Biosciences by 45.1% in the 1st quarter. Cetera Investment Advisers now owns 11,857 shares of the company’s stock worth $1,311,000 after purchasing an additional 3,688 shares during the period. Jefferies Financial Group Inc. bought a new stake in shares of Neurocrine Biosciences in the first quarter valued at about $498,000. ASR Vermogensbeheer N.V. acquired a new position in shares of Neurocrine Biosciences during the first quarter worth about $465,000. Charles Schwab Investment Management Inc. boosted its position in shares of Neurocrine Biosciences by 1.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 775,773 shares of the company’s stock worth $85,800,000 after buying an additional 13,216 shares during the period. Finally, Ontario Teachers Pension Plan Board bought a new position in shares of Neurocrine Biosciences during the first quarter worth about $1,701,000. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Neurocrine Biosciences Stock Performance

Shares of NASDAQ:NBIX opened at $152.48 on Wednesday. Neurocrine Biosciences, Inc. has a 52-week low of $84.23 and a 52-week high of $157.67. The company has a market capitalization of $15.20 billion, a P/E ratio of 36.48, a price-to-earnings-growth ratio of 0.94 and a beta of 0.27. The company has a 50-day simple moving average of $143.08 and a 200 day simple moving average of $135.48.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings results on Tuesday, October 28th. The company reported $2.17 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.59. The firm had revenue of $794.90 million for the quarter, compared to the consensus estimate of $746.61 million. Neurocrine Biosciences had a return on equity of 15.82% and a net margin of 15.95%.The business’s revenue was up 27.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.81 earnings per share. As a group, equities analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on NBIX shares. Piper Sandler boosted their target price on Neurocrine Biosciences from $175.00 to $179.00 and gave the company an “overweight” rating in a research note on Wednesday, October 29th. Canaccord Genuity Group raised their price objective on Neurocrine Biosciences from $160.00 to $164.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Neurocrine Biosciences in a research report on Wednesday, October 8th. Citigroup increased their price target on Neurocrine Biosciences from $175.00 to $203.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Finally, UBS Group raised their price target on Neurocrine Biosciences from $188.00 to $195.00 and gave the company a “buy” rating in a research note on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Neurocrine Biosciences presently has an average rating of “Moderate Buy” and a consensus target price of $170.53.

Insider Buying and Selling

In other Neurocrine Biosciences news, Director William H. Rastetter sold 18,000 shares of Neurocrine Biosciences stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $151.82, for a total transaction of $2,732,760.00. Following the completion of the transaction, the director directly owned 40,360 shares of the company’s stock, valued at $6,127,455.20. The trade was a 30.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director George J. Morrow sold 15,000 shares of the company’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $143.37, for a total transaction of $2,150,550.00. Following the completion of the transaction, the director owned 7,068 shares in the company, valued at approximately $1,013,339.16. This represents a 67.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 33,300 shares of company stock valued at $4,925,901. 4.30% of the stock is owned by insiders.

Neurocrine Biosciences 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.