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

Truist Financial Corp trimmed its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 78.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 46,425 shares of the company’s stock after selling 167,858 shares during the quarter. Truist Financial Corp’s holdings in Neurocrine Biosciences were worth $6,337,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Golden State Wealth Management LLC bought a new stake in Neurocrine Biosciences during the 4th quarter valued at approximately $25,000. Brooklyn Investment Group boosted its position in shares of Neurocrine Biosciences by 99.1% in the 4th quarter. Brooklyn Investment Group now owns 231 shares of the company’s stock worth $32,000 after purchasing an additional 115 shares in the last quarter. Blue Trust Inc. boosted its position in shares of Neurocrine Biosciences by 171.9% in the 3rd quarter. Blue Trust Inc. now owns 348 shares of the company’s stock worth $40,000 after purchasing an additional 220 shares in the last quarter. R Squared Ltd bought a new stake in shares of Neurocrine Biosciences in the 4th quarter worth approximately $61,000. Finally, UMB Bank n.a. boosted its position in shares of Neurocrine Biosciences by 211.6% in the 4th quarter. UMB Bank n.a. now owns 455 shares of the company’s stock worth $62,000 after purchasing an additional 309 shares in the last quarter. 92.59% of the stock is owned by institutional investors.

Insider Transactions at Neurocrine Biosciences

In other Neurocrine Biosciences news, insider Jude Onyia sold 2,331 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $126.29, for a total value of $294,381.99. Following the completion of the sale, the insider now owns 15,449 shares in the company, valued at approximately $1,951,054.21. This represents a 13.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Kevin Charles Gorman sold 146,105 shares of the stock in a transaction on Monday, January 27th. The stock was sold at an average price of $149.46, for a total value of $21,836,853.30. Following the completion of the sale, the director now owns 514,596 shares of the company’s stock, valued at $76,911,518.16. The trade was a 22.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 236,600 shares of company stock worth $34,348,261 in the last three months. Corporate insiders own 4.30% of the company’s stock.

Neurocrine Biosciences Trading Up 3.9 %

Shares of NBIX opened at $120.69 on Friday. The firm has a market cap of $12.03 billion, a PE ratio of 36.68, a P/E/G ratio of 0.77 and a beta of 0.33. Neurocrine Biosciences, Inc. has a 1-year low of $110.95 and a 1-year high of $157.98. The firm has a fifty day simple moving average of $136.63 and a two-hundred day simple moving average of $129.41.

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

Neurocrine Biosciences announced that its Board of Directors has initiated a share buyback program on Friday, February 21st that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to buy up to 4.2% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

NBIX has been the topic of a number of analyst reports. Barclays boosted their price target on Neurocrine Biosciences from $160.00 to $165.00 and gave the stock an “overweight” rating in a research report on Monday, December 23rd. Royal Bank of Canada dropped their price target on Neurocrine Biosciences from $154.00 to $148.00 and set a “sector perform” rating on the stock in a research report on Friday, February 7th. William Blair reissued an “outperform” rating on shares of Neurocrine Biosciences in a research report on Friday, February 7th. Bank of America lowered their price objective on Neurocrine Biosciences from $184.00 to $179.00 and set a “buy” rating on the stock in a research report on Friday, February 7th. Finally, Wedbush lowered their price objective on Neurocrine Biosciences from $157.00 to $147.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. Five equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Neurocrine Biosciences currently has an average rating of “Moderate Buy” and an average price target of $166.90.

About Neurocrine Biosciences

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.