Thrivent Financial for Lutherans Cuts Stock Position in Neurocrine Biosciences, Inc. $NBIX

Thrivent Financial for Lutherans decreased its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 10.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 787,299 shares of the company’s stock after selling 91,516 shares during the quarter. Thrivent Financial for Lutherans owned about 0.79% of Neurocrine Biosciences worth $98,955,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Assetmark Inc. boosted its stake in shares of Neurocrine Biosciences by 10.8% during the second quarter. Assetmark Inc. now owns 21,001 shares of the company’s stock valued at $2,640,000 after purchasing an additional 2,045 shares during the period. Saturn V Capital Management LP bought a new stake in Neurocrine Biosciences during the 2nd quarter valued at about $7,313,000. Rhenman & Partners Asset Management AB lifted its holdings in Neurocrine Biosciences by 66.1% during the 2nd quarter. Rhenman & Partners Asset Management AB now owns 149,217 shares of the company’s stock valued at $18,755,000 after buying an additional 59,400 shares in the last quarter. Capital Fund Management S.A. boosted its position in Neurocrine Biosciences by 15.9% in the 2nd quarter. Capital Fund Management S.A. now owns 203,628 shares of the company’s stock valued at $25,594,000 after buying an additional 27,987 shares during the period. Finally, Envestnet Asset Management Inc. boosted its position in Neurocrine Biosciences by 61.9% in the 2nd quarter. Envestnet Asset Management Inc. now owns 198,039 shares of the company’s stock valued at $24,891,000 after buying an additional 75,733 shares during the period. 92.59% of the stock is owned by hedge funds and other institutional investors.

Neurocrine Biosciences Trading Down 1.3%

NBIX opened at $152.80 on Friday. The firm has a market cap of $15.24 billion, a price-to-earnings ratio of 36.56, a PEG ratio of 1.00 and a beta of 0.27. Neurocrine Biosciences, Inc. has a 12 month low of $84.23 and a 12 month high of $160.18. The stock has a fifty day moving average price of $145.35 and a 200-day moving average price of $137.24.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings data on Tuesday, October 28th. The company reported $2.17 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.59. The company 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 firm’s revenue for the quarter was up 27.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.81 earnings per share. On average, equities research analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Morgan Stanley decreased their price target on shares of Neurocrine Biosciences from $178.00 to $173.00 and set an “overweight” rating for the company in a research note on Tuesday, November 11th. Citigroup raised their price objective on Neurocrine Biosciences from $175.00 to $203.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Royal Bank Of Canada upped their target price on Neurocrine Biosciences from $160.00 to $180.00 and gave the stock an “outperform” rating in a report on Monday, December 8th. Piper Sandler increased their price target on Neurocrine Biosciences from $175.00 to $179.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. Finally, Zacks Research upgraded Neurocrine Biosciences from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 15th. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $173.33.

Insider Activity

In other Neurocrine Biosciences news, Director George J. Morrow sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $143.37, for a total value of $2,150,550.00. Following the completion of the sale, the director directly owned 7,068 shares in the company, valued at $1,013,339.16. This trade represents a 67.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Darin Lippoldt sold 4,376 shares of Neurocrine Biosciences stock in a transaction on Monday, December 8th. The stock was sold at an average price of $159.65, for a total transaction of $698,628.40. Following the completion of the transaction, the insider directly owned 43,405 shares in the company, valued at $6,929,608.25. This represents a 9.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 37,676 shares of company stock worth $5,624,529 in the last quarter. 4.80% of the stock is currently owned by corporate insiders.

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.