Truist Financial Corp Sells 24,333 Shares of Neurocrine Biosciences, Inc. $NBIX

Truist Financial Corp cut its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 68.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,991 shares of the company’s stock after selling 24,333 shares during the quarter. Truist Financial Corp’s holdings in Neurocrine Biosciences were worth $1,559,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Nilsine Partners LLC bought a new stake in shares of Neurocrine Biosciences during the 4th quarter valued at $1,197,000. Ruffer LLP bought a new stake in shares of Neurocrine Biosciences during the 4th quarter valued at $2,479,000. Korea Investment CORP raised its stake in shares of Neurocrine Biosciences by 94.3% during the 3rd quarter. Korea Investment CORP now owns 71,689 shares of the company’s stock valued at $10,064,000 after purchasing an additional 34,800 shares during the period. CIBC Private Wealth Group LLC raised its stake in shares of Neurocrine Biosciences by 17,250.0% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 7,981 shares of the company’s stock valued at $1,120,000 after purchasing an additional 7,935 shares during the period. Finally, Focus Partners Advisor Solutions LLC raised its stake in shares of Neurocrine Biosciences by 152.5% during the 3rd quarter. Focus Partners Advisor Solutions LLC now owns 13,263 shares of the company’s stock valued at $1,945,000 after purchasing an additional 8,011 shares during the period. 92.59% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Neurocrine Biosciences

In other news, Director Leslie V. Norwalk sold 3,810 shares of the stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $155.01, for a total value of $590,588.10. Following the transaction, the director owned 2,429 shares of the company’s stock, valued at $376,519.29. This represents a 61.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 4.60% of the stock is owned by insiders.

Neurocrine Biosciences Trading Down 1.4%

Shares of NASDAQ NBIX opened at $159.05 on Friday. Neurocrine Biosciences, Inc. has a 12 month low of $117.40 and a 12 month high of $162.39. The firm has a market capitalization of $15.99 billion, a price-to-earnings ratio of 24.51, a PEG ratio of 1.21 and a beta of 0.34. The business has a 50-day moving average of $133.55 and a 200-day moving average of $138.32.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings data on Wednesday, February 11th. The company reported $1.88 EPS for the quarter, missing the consensus estimate of $2.36 by ($0.48). The business had revenue of $805.50 million for the quarter, compared to analysts’ expectations of $804.21 million. Neurocrine Biosciences had a return on equity of 19.79% and a net margin of 21.55%.The firm’s revenue for the quarter was up 28.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.69 EPS. On average, analysts predict that Neurocrine Biosciences, Inc. will post 7.16 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Royal Bank Of Canada upped their price target on Neurocrine Biosciences from $176.00 to $180.00 and gave the company an “outperform” rating in a research report on Wednesday, May 6th. Wedbush upped their price target on Neurocrine Biosciences from $166.00 to $176.00 and gave the company an “outperform” rating in a research report on Wednesday, May 6th. HC Wainwright increased their target price on shares of Neurocrine Biosciences from $192.00 to $215.00 and gave the stock a “buy” rating in a research note on Tuesday, April 7th. Guggenheim reiterated a “buy” rating and issued a $175.00 target price on shares of Neurocrine Biosciences in a research note on Wednesday, May 6th. Finally, Piper Sandler increased their target price on shares of Neurocrine Biosciences from $190.00 to $207.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Neurocrine Biosciences presently has a consensus rating of “Moderate Buy” and an average price target of $184.15.

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.