Gotham Asset Management LLC Sells 9,603 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Gotham Asset Management LLC lessened its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 62.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,714 shares of the company's stock after selling 9,603 shares during the quarter. Gotham Asset Management LLC's holdings in Neurocrine Biosciences were worth $780,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Golden State Wealth Management LLC purchased a new stake in shares of Neurocrine Biosciences in the 4th quarter valued at approximately $25,000. Huntington National Bank lifted its position in Neurocrine Biosciences by 73.5% in the 4th quarter. Huntington National Bank now owns 229 shares of the company's stock worth $31,000 after buying an additional 97 shares in the last quarter. Brooklyn Investment Group lifted its position in 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 buying an additional 115 shares in the last quarter. GeoWealth Management LLC lifted its position in Neurocrine Biosciences by 65.4% in the 4th quarter. GeoWealth Management LLC now owns 258 shares of the company's stock worth $35,000 after buying an additional 102 shares in the last quarter. Finally, Lindbrook Capital LLC lifted its position in Neurocrine Biosciences by 53.5% in the 4th quarter. Lindbrook Capital LLC now owns 373 shares of the company's stock worth $51,000 after buying an additional 130 shares in the last quarter. Hedge funds and other institutional investors own 92.59% of the company's stock.

Neurocrine Biosciences Stock Up 0.9%

NASDAQ NBIX traded up $1.06 during midday trading on Friday, hitting $120.18. The company had a trading volume of 882,158 shares, compared to its average volume of 1,136,268. The stock has a market cap of $11.89 billion, a price-to-earnings ratio of 36.53, a P/E/G ratio of 0.77 and a beta of 0.26. The firm has a fifty day simple moving average of $108.14 and a two-hundred day simple moving average of $121.88. Neurocrine Biosciences, Inc. has a fifty-two week low of $84.23 and a fifty-two week high of $157.98.

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 (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 return on equity of 13.38% and a net margin of 14.49%. The business's revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.20 earnings per share. As a group, equities analysts predict that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.

Neurocrine Biosciences announced that its Board of Directors has authorized a stock repurchase plan on Friday, February 21st that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 4.2% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's board believes its shares are undervalued.

Insiders Place Their Bets

In other news, Director William H. Rastetter sold 30,000 shares of Neurocrine Biosciences stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $110.20, for a total transaction of $3,306,000.00. Following the sale, the director now directly owns 37,491 shares in the company, valued at approximately $4,131,508.20. The trade was a 44.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 4.30% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Wedbush reiterated an "outperform" rating on shares of Neurocrine Biosciences in a research report on Tuesday, May 6th. Evercore ISI cut their target price on shares of Neurocrine Biosciences from $190.00 to $185.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. JPMorgan Chase & Co. increased their target price on shares of Neurocrine Biosciences from $183.00 to $184.00 and gave the stock an "overweight" rating in a research report on Wednesday, March 26th. William Blair reiterated an "outperform" rating on shares of Neurocrine Biosciences in a research report on Friday, February 7th. Finally, Piper Sandler restated an "overweight" rating and set a $154.00 price target (down previously from $160.00) on shares of Neurocrine Biosciences in a research note on Tuesday, May 6th. Three analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $162.00.

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.