Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Shares Sold by Two Sigma Investments LP

Two Sigma Investments LP lessened its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 70.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,771 shares of the company's stock after selling 63,257 shares during the period. Two Sigma Investments LP's holdings in Neurocrine Biosciences were worth $3,654,000 as of its most recent filing with the Securities & Exchange Commission.

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

Neurocrine Biosciences Price Performance

NBIX traded down $0.95 during trading hours on Friday, reaching $122.71. The company's stock had a trading volume of 1,827,832 shares, compared to its average volume of 1,140,365. Neurocrine Biosciences, Inc. has a fifty-two week low of $84.23 and a fifty-two week high of $157.98. The stock has a market cap of $12.14 billion, a PE ratio of 37.30, a P/E/G ratio of 0.77 and a beta of 0.26. The business's 50-day moving average is $108.97 and its 200-day moving average is $121.82.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last announced its 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). Neurocrine Biosciences had a return on equity of 13.38% and a net margin of 14.49%. The company had revenue of $572.60 million for the quarter, compared to analysts' expectations of $587.06 million. During the same period last year, the business earned $1.20 EPS. The company's quarterly revenue was up 11.1% compared to the same quarter last year. Analysts expect that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

Neurocrine Biosciences declared that its board has approved a stock buyback plan 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 shares through open market purchases. Shares repurchase plans are usually an indication that the company's board believes its stock is undervalued.

Analysts Set New Price Targets

NBIX has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft began coverage on shares of Neurocrine Biosciences in a research report on Tuesday, February 11th. They issued a "hold" rating and a $138.00 target price on the stock. Guggenheim raised their price target on shares of Neurocrine Biosciences from $155.00 to $165.00 and gave the company a "buy" rating in a research note on Tuesday, May 6th. Wall Street Zen lowered Neurocrine Biosciences from a "strong-buy" rating to a "buy" rating in a research note on Thursday, March 20th. Royal Bank of Canada increased their target price on Neurocrine Biosciences from $137.00 to $145.00 and gave the company an "outperform" rating in a report on Tuesday, May 6th. Finally, Morgan Stanley restated an "overweight" rating and issued a $150.00 target price (down previously from $185.00) on shares of Neurocrine Biosciences in a research report on Friday, March 7th. Three analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat.com, Neurocrine Biosciences has an average rating of "Moderate Buy" and an average price target of $162.00.

Insider Activity

In other news, Director William H. Rastetter sold 30,000 shares of Neurocrine Biosciences 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 sale, the director now directly owns 37,491 shares of the company's stock, valued at approximately $4,131,508.20. The trade was a 44.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Kevin Charles Gorman sold 9,613 shares of the stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $120.38, for a total value of $1,157,212.94. Following the transaction, the director now directly owns 514,596 shares in the company, valued at approximately $61,947,066.48. The trade was a 1.83% decrease in their position. The disclosure for this sale can be found here. Insiders own 4.80% of the company's stock.

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.