D. E. Shaw & Co. Inc. Has $3.92 Million Stock Holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

D. E. Shaw & Co. Inc. decreased its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 83.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,710 shares of the company's stock after selling 140,744 shares during the period. D. E. Shaw & Co. Inc.'s holdings in Neurocrine Biosciences were worth $3,919,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Park Avenue Securities LLC boosted its stake in Neurocrine Biosciences by 23.3% during the fourth quarter. Park Avenue Securities LLC now owns 7,080 shares of the company's stock worth $966,000 after buying an additional 1,336 shares in the last quarter. Avanza Fonder AB bought a new position in shares of Neurocrine Biosciences in the fourth quarter valued at about $1,804,000. Merit Financial Group LLC bought a new position in shares of Neurocrine Biosciences in the fourth quarter valued at about $520,000. Brooklyn Investment Group raised its holdings in Neurocrine Biosciences by 99.1% during the 4th quarter. Brooklyn Investment Group now owns 231 shares of the company's stock worth $32,000 after purchasing an additional 115 shares during the last quarter. Finally, HB Wealth Management LLC bought a new stake in Neurocrine Biosciences during the 4th quarter worth about $373,000. Institutional investors and hedge funds own 92.59% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Bank of America dropped their price objective on Neurocrine Biosciences from $184.00 to $179.00 and set a "buy" rating for the company in a report on Friday, February 7th. HC Wainwright dropped their price objective on Neurocrine Biosciences from $185.00 to $168.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Canaccord Genuity Group upped their price target on Neurocrine Biosciences from $158.00 to $160.00 and gave the company a "buy" rating in a research note on Tuesday, May 6th. Royal Bank of Canada upped their price target on Neurocrine Biosciences from $137.00 to $145.00 and gave the company an "outperform" rating in a research note on Tuesday, May 6th. Finally, Morgan Stanley reaffirmed an "overweight" rating and issued a $150.00 price target (down from $185.00) on shares of Neurocrine Biosciences in a research note on Friday, March 7th. Three equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $162.00.

Neurocrine Biosciences Price Performance

NASDAQ:NBIX traded up $1.06 during trading hours on Friday, reaching $120.18. 882,158 shares of the stock were exchanged, compared to its average volume of 1,136,268. Neurocrine Biosciences, Inc. has a twelve month low of $84.23 and a twelve month high of $157.98. The firm has a 50 day moving average of $108.14 and a 200 day moving average of $121.88. The stock has a market cap of $11.89 billion, a PE ratio of 36.53, a PEG ratio of 0.77 and a beta of 0.26.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The company reported $0.08 EPS 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 analyst estimates of $587.06 million. Neurocrine Biosciences had a net margin of 14.49% and a return on equity of 13.38%. The company's quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.20 EPS. Equities research analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.

Neurocrine Biosciences announced that its board has approved a stock repurchase plan on Friday, February 21st that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 4.2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's management believes its stock is undervalued.

Insider Activity

In other news, Director William H. Rastetter sold 30,000 shares of the stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $110.20, for a total value of $3,306,000.00. Following the completion of the sale, the director now owns 37,491 shares of the company's stock, valued at approximately $4,131,508.20. This represents a 44.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 4.30% of the stock is currently owned by insiders.

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.