Braidwell LP Lowers Stock Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Braidwell LP cut its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 1.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 901,790 shares of the company's stock after selling 15,884 shares during the quarter. Neurocrine Biosciences accounts for about 3.7% of Braidwell LP's holdings, making the stock its 5th biggest holding. Braidwell LP owned approximately 0.89% of Neurocrine Biosciences worth $123,094,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. OneDigital Investment Advisors LLC grew its holdings in shares of Neurocrine Biosciences by 2.1% during the 4th quarter. OneDigital Investment Advisors LLC now owns 4,215 shares of the company's stock valued at $575,000 after purchasing an additional 87 shares during the last quarter. HighPoint Advisor Group LLC increased its holdings in shares of Neurocrine Biosciences by 4.1% in the fourth quarter. HighPoint Advisor Group LLC now owns 2,446 shares of the company's stock worth $334,000 after buying an additional 96 shares during the period. Huntington National Bank lifted its stake in shares of Neurocrine Biosciences by 73.5% in the 4th quarter. Huntington National Bank now owns 229 shares of the company's stock valued at $31,000 after acquiring an additional 97 shares during the last quarter. Louisiana State Employees Retirement System lifted its stake in shares of Neurocrine Biosciences by 0.4% in the 4th quarter. Louisiana State Employees Retirement System now owns 28,100 shares of the company's stock valued at $3,836,000 after acquiring an additional 100 shares during the last quarter. Finally, Utah Retirement Systems boosted its holdings in Neurocrine Biosciences by 0.6% during the 4th quarter. Utah Retirement Systems now owns 16,583 shares of the company's stock valued at $2,264,000 after acquiring an additional 100 shares during the period. Hedge funds and other institutional investors own 92.59% of the company's stock.

Insider Activity

In other Neurocrine Biosciences news, insider Julie Cooke sold 700 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $118.28, for a total transaction of $82,796.00. Following the sale, the insider now directly owns 18,831 shares in the company, valued at approximately $2,227,330.68. This trade represents a 3.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kevin Charles Gorman sold 2,274 shares of the business's stock in a transaction on Monday, February 10th. The stock was sold at an average price of $118.37, for a total value of $269,173.38. Following the completion of the transaction, the director now owns 519,074 shares of the company's stock, valued at $61,442,789.38. This represents a 0.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,907 shares of company stock worth $4,935,982 over the last three months. 4.30% of the stock is currently owned by corporate insiders.

Neurocrine Biosciences Trading Down 1.5 %

NBIX traded down $1.81 during midday trading on Friday, reaching $115.71. The company's stock had a trading volume of 1,319,681 shares, compared to its average volume of 1,113,726. Neurocrine Biosciences, Inc. has a 1 year low of $84.23 and a 1 year high of $157.98. The stock's 50-day moving average is $106.23 and its 200-day moving average is $121.80. The firm has a market capitalization of $11.45 billion, a price-to-earnings ratio of 35.17, a PEG ratio of 0.77 and a beta of 0.26.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.62). The company had revenue of $572.60 million during the quarter, compared to analysts' expectations of $587.06 million. Neurocrine Biosciences had a return on equity of 13.38% and a net margin of 14.49%. The business's quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.20 EPS. As a group, equities research analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

Neurocrine Biosciences declared that its Board of Directors has authorized 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 reacquire up to 4.2% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's board believes its shares are undervalued.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. UBS Group boosted their price objective on Neurocrine Biosciences from $137.00 to $152.00 and gave the company a "buy" rating in a research report on Tuesday. Morgan Stanley reiterated an "overweight" rating and set a $150.00 price target (down from $185.00) on shares of Neurocrine Biosciences in a report on Friday, March 7th. JPMorgan Chase & Co. raised their price target on shares of Neurocrine Biosciences from $183.00 to $184.00 and gave the stock an "overweight" rating in a report on Wednesday, March 26th. HC Wainwright lowered their price objective on shares of Neurocrine Biosciences from $185.00 to $168.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Finally, Wedbush reiterated an "outperform" rating on shares of Neurocrine Biosciences in a report on Tuesday. Three analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $162.00.

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.