Prudential Financial Inc. Has $17.80 Million Position in Neurocrine Biosciences, Inc. $NBIX

Prudential Financial Inc. grew its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 21.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 145,330 shares of the company’s stock after purchasing an additional 26,030 shares during the quarter. Prudential Financial Inc.’s holdings in Neurocrine Biosciences were worth $17,798,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Assetmark Inc. boosted its holdings in shares of Neurocrine Biosciences by 10.8% during the 2nd quarter. Assetmark Inc. now owns 21,001 shares of the company’s stock worth $2,640,000 after buying an additional 2,045 shares in the last quarter. Financiere des Professionnels Fonds d investissement inc. bought a new stake in shares of Neurocrine Biosciences in the 2nd quarter valued at $696,000. Envestnet Asset Management Inc. lifted its position in shares of Neurocrine Biosciences by 61.9% during the 2nd quarter. Envestnet Asset Management Inc. now owns 198,039 shares of the company’s stock valued at $24,891,000 after acquiring an additional 75,733 shares during the period. Sequoia Financial Advisors LLC bought a new position in Neurocrine Biosciences during the second quarter worth $342,000. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in Neurocrine Biosciences by 229.1% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 19,107 shares of the company’s stock worth $2,467,000 after acquiring an additional 13,301 shares in the last quarter. Institutional investors own 92.59% of the company’s stock.

Insiders Place Their Bets

In other news, 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 value of $2,150,550.00. Following the completion of the sale, the director owned 7,068 shares in the company, valued at $1,013,339.16. This represents a 67.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Kyle Gano sold 300 shares of the stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $141.97, for a total transaction of $42,591.00. Following the completion of the sale, the chief executive officer owned 140,407 shares of the company’s stock, valued at approximately $19,933,581.79. This represents a 0.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 33,300 shares of company stock valued at $4,925,901 in the last three months. 4.80% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms have weighed in on NBIX. Citigroup lifted their price target on shares of Neurocrine Biosciences from $175.00 to $203.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Canaccord Genuity Group boosted their target price on Neurocrine Biosciences from $160.00 to $164.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Piper Sandler upped their price target on Neurocrine Biosciences from $175.00 to $179.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. UBS Group raised their price objective on Neurocrine Biosciences from $188.00 to $195.00 and gave the company a “buy” rating in a research note on Thursday, October 9th. Finally, Stifel Nicolaus upped their target price on Neurocrine Biosciences from $174.00 to $183.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $170.53.

Neurocrine Biosciences Stock Up 5.6%

Shares of Neurocrine Biosciences stock opened at $151.58 on Thursday. Neurocrine Biosciences, Inc. has a 52 week low of $84.23 and a 52 week high of $157.67. The business has a 50 day moving average price of $142.62 and a 200-day moving average price of $134.47. The company has a market cap of $15.11 billion, a PE ratio of 36.26, a price-to-earnings-growth ratio of 0.94 and a beta of 0.22.

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

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.