Truist Financial Corp Sells 167,858 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Truist Financial Corp lessened its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 78.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 46,425 shares of the company’s stock after selling 167,858 shares during the period. Truist Financial Corp’s holdings in Neurocrine Biosciences were worth $6,337,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in NBIX. Creative Planning boosted its holdings in shares of Neurocrine Biosciences by 12.3% during the 3rd quarter. Creative Planning now owns 12,999 shares of the company’s stock valued at $1,498,000 after purchasing an additional 1,426 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Neurocrine Biosciences by 171.9% during the 3rd quarter. Blue Trust Inc. now owns 348 shares of the company’s stock valued at $40,000 after purchasing an additional 220 shares during the last quarter. Raymond James & Associates boosted its holdings in shares of Neurocrine Biosciences by 4.3% during the 3rd quarter. Raymond James & Associates now owns 62,446 shares of the company’s stock valued at $7,195,000 after purchasing an additional 2,552 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Neurocrine Biosciences by 42.0% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 9,580 shares of the company’s stock valued at $1,104,000 after purchasing an additional 2,832 shares during the last quarter. Finally, Mediolanum International Funds Ltd boosted its holdings in shares of Neurocrine Biosciences by 30.0% during the 3rd quarter. Mediolanum International Funds Ltd now owns 59,902 shares of the company’s stock valued at $6,881,000 after purchasing an additional 13,809 shares during the last quarter. Institutional investors own 92.59% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on NBIX shares. Guggenheim dropped their price objective on shares of Neurocrine Biosciences from $165.00 to $163.00 and set a “buy” rating for the company in a report on Monday, February 10th. Royal Bank of Canada lowered their price target on shares of Neurocrine Biosciences from $154.00 to $148.00 and set a “sector perform” rating for the company in a report on Friday, February 7th. Deutsche Bank Aktiengesellschaft began coverage on shares of Neurocrine Biosciences in a report on Tuesday, February 11th. They issued a “hold” rating and a $138.00 price target for the company. Wedbush lowered their price target on shares of Neurocrine Biosciences from $157.00 to $147.00 and set an “outperform” rating for the company in a report on Friday, February 7th. Finally, Canaccord Genuity Group lowered their price target on shares of Neurocrine Biosciences from $172.00 to $163.00 and set a “buy” rating for the company in a report on Friday, February 7th. Five research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Neurocrine Biosciences has a consensus rating of “Moderate Buy” and a consensus target price of $166.90.

Insider Activity at Neurocrine Biosciences

In related news, CEO Kyle Gano sold 65,000 shares of Neurocrine Biosciences stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $141.50, for a total transaction of $9,197,500.00. Following the transaction, the chief executive officer now directly owns 135,392 shares of the company’s stock, valued at $19,157,968. This trade represents a 32.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Jude Onyia sold 2,331 shares of Neurocrine Biosciences 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. The trade was a 13.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 236,600 shares of company stock valued at $34,348,261 over the last ninety days. 4.30% of the stock is owned by company insiders.

Neurocrine Biosciences Stock Performance

Shares of NASDAQ:NBIX opened at $120.69 on Friday. The firm has a market cap of $12.03 billion, a PE ratio of 36.68, a price-to-earnings-growth ratio of 0.77 and a beta of 0.33. The firm’s 50 day simple moving average is $136.63 and its 200-day simple moving average is $129.41. Neurocrine Biosciences, Inc. has a one year low of $110.95 and a one year high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its earnings results on Thursday, February 6th. The company reported $1.00 EPS for the quarter, missing analysts’ consensus estimates of $1.62 by ($0.62). Neurocrine Biosciences had a return on equity of 13.38% and a net margin of 14.49%. Equities research analysts predict that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

Neurocrine Biosciences announced that its Board of Directors has authorized a stock buyback plan on Friday, February 21st that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to repurchase up to 4.2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

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.