D. E. Shaw & Co. Inc. Cuts Stock Holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

D. E. Shaw & Co. Inc. cut its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 83.1% during the fourth 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 quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in Neurocrine Biosciences by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 10,119,641 shares of the company's stock worth $1,381,331,000 after acquiring an additional 122,681 shares in the last quarter. Dodge & Cox lifted its position in shares of Neurocrine Biosciences by 134.2% during the fourth quarter. Dodge & Cox now owns 3,016,425 shares of the company's stock valued at $411,742,000 after buying an additional 1,728,605 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of Neurocrine Biosciences by 2.9% during the fourth quarter. AQR Capital Management LLC now owns 1,896,891 shares of the company's stock valued at $258,926,000 after buying an additional 53,610 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Neurocrine Biosciences by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 1,875,062 shares of the company's stock valued at $255,523,000 after buying an additional 15,830 shares during the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of Neurocrine Biosciences by 102.9% during the fourth quarter. Wellington Management Group LLP now owns 1,457,425 shares of the company's stock valued at $198,939,000 after buying an additional 739,199 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Neurocrine Biosciences

In related news, Director William H. Rastetter sold 30,000 shares of the company's stock in a transaction 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 transaction, the director now directly owns 37,491 shares in the company, valued at approximately $4,131,508.20. This represents a 44.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 4.30% of the stock is owned by insiders.

Neurocrine Biosciences Stock Down 1.2%

Shares of NBIX traded down $1.44 during mid-day trading on Thursday, reaching $119.12. 875,941 shares of the company's stock were exchanged, compared to its average volume of 1,132,506. The company has a 50-day simple moving average of $107.77 and a two-hundred day simple moving average of $121.93. Neurocrine Biosciences, Inc. has a 52-week low of $84.23 and a 52-week high of $157.98. The company has a market cap of $11.79 billion, a price-to-earnings ratio of 36.21, a PEG ratio of 0.77 and a beta of 0.26.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The company reported $0.08 earnings per share (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 analysts' expectations of $587.06 million. Neurocrine Biosciences had a net margin of 14.49% and a return on equity of 13.38%. The firm's revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.20 earnings per share. As a group, equities research analysts predict that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

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

Wall Street Analysts Forecast Growth

Several research firms have commented on NBIX. Canaccord Genuity Group increased their price target on shares of Neurocrine Biosciences from $158.00 to $160.00 and gave the company a "buy" rating in a research report on Tuesday, May 6th. UBS Group increased their price objective on shares of Neurocrine Biosciences from $137.00 to $152.00 and gave the company a "buy" rating in a research report on Tuesday, May 6th. Needham & Company LLC increased their price objective on shares of Neurocrine Biosciences from $138.00 to $139.00 and gave the company a "buy" rating in a research report on Tuesday, May 6th. Royal Bank of Canada increased their price objective on shares of Neurocrine Biosciences from $137.00 to $145.00 and gave the company an "outperform" rating in a research report on Tuesday, May 6th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Neurocrine Biosciences in a research report on Tuesday, February 11th. They issued a "hold" rating and a $138.00 price objective for the company. Three research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Neurocrine Biosciences presently has an average rating of "Moderate Buy" and a consensus price target 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.