Principal Financial Group Inc. Has $31.38 Million Holdings in Neurocrine Biosciences, Inc. $NBIX

Principal Financial Group Inc. raised its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 5.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 238,161 shares of the company’s stock after acquiring an additional 11,784 shares during the period. Principal Financial Group Inc. owned about 0.24% of Neurocrine Biosciences worth $31,375,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. AQR Capital Management LLC boosted its stake in shares of Neurocrine Biosciences by 18.0% in the 4th quarter. AQR Capital Management LLC now owns 3,271,706 shares of the company’s stock valued at $462,652,000 after purchasing an additional 498,058 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Neurocrine Biosciences by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 2,059,282 shares of the company’s stock valued at $291,342,000 after purchasing an additional 34,457 shares during the last quarter. Los Angeles Capital Management LLC increased its position in Neurocrine Biosciences by 7.4% during the 4th quarter. Los Angeles Capital Management LLC now owns 1,291,278 shares of the company’s stock worth $178,248,000 after purchasing an additional 88,522 shares in the last quarter. Northern Trust Corp increased its position in Neurocrine Biosciences by 31.9% during the 4th quarter. Northern Trust Corp now owns 1,221,184 shares of the company’s stock worth $173,201,000 after purchasing an additional 295,470 shares in the last quarter. Finally, Deerfield Management Company L.P. lifted its stake in Neurocrine Biosciences by 1.4% in the 3rd quarter. Deerfield Management Company L.P. now owns 1,184,345 shares of the company’s stock valued at $166,258,000 after purchasing an additional 16,543 shares during the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on NBIX shares. Wells Fargo & Company raised their target price on shares of Neurocrine Biosciences from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday. Royal Bank Of Canada upped their price target on shares of Neurocrine Biosciences from $183.00 to $195.00 and gave the stock an “outperform” rating in a report on Tuesday, July 7th. Weiss Ratings downgraded Neurocrine Biosciences from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, July 10th. Morgan Stanley boosted their price objective on Neurocrine Biosciences from $185.00 to $191.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 6th. Finally, Citigroup upped their target price on Neurocrine Biosciences from $242.00 to $246.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Neurocrine Biosciences has an average rating of “Moderate Buy” and a consensus target price of $192.86.

Neurocrine Biosciences Price Performance

NBIX opened at $170.88 on Monday. Neurocrine Biosciences, Inc. has a fifty-two week low of $122.14 and a fifty-two week high of $181.18. The firm has a market capitalization of $17.18 billion, a price-to-earnings ratio of 26.33, a PEG ratio of 0.68 and a beta of 0.39. The company’s 50 day moving average price is $163.74 and its two-hundred day moving average price is $143.79.

Insider Activity at Neurocrine Biosciences

In related news, Director Stephen A. Sherwin sold 25,000 shares of the firm’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $165.32, for a total transaction of $4,133,000.00. Following the completion of the transaction, the director directly owned 15,860 shares of the company’s stock, valued at $2,621,975.20. This trade represents a 61.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jude Onyia sold 11,000 shares of Neurocrine Biosciences stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $160.25, for a total value of $1,762,750.00. Following the transaction, the insider directly owned 25,846 shares in the company, valued at $4,141,821.50. The trade was a 29.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 394,172 shares of company stock valued at $62,221,181 in the last quarter. Insiders own 4.60% of the company’s stock.

Neurocrine Biosciences 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.