Nuveen Asset Management LLC Lowers Stock Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Nuveen Asset Management LLC lessened its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 22.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 267,980 shares of the company's stock after selling 77,597 shares during the period. Nuveen Asset Management LLC owned about 0.26% of Neurocrine Biosciences worth $36,579,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. OneDigital Investment Advisors LLC lifted its position in shares of Neurocrine Biosciences by 2.1% in the 4th quarter. OneDigital Investment Advisors LLC now owns 4,215 shares of the company's stock worth $575,000 after purchasing an additional 87 shares during the period. HighPoint Advisor Group LLC lifted its position in shares of Neurocrine Biosciences by 4.1% in the 4th quarter. HighPoint Advisor Group LLC now owns 2,446 shares of the company's stock worth $334,000 after purchasing an additional 96 shares during the period. Huntington National Bank lifted its position in shares of 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 purchasing an additional 97 shares during the period. Louisiana State Employees Retirement System lifted its position in Neurocrine Biosciences by 0.4% during the fourth 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 lifted its position in Neurocrine Biosciences by 0.6% during the fourth 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 last quarter. Hedge funds and other institutional investors own 92.59% of the company's stock.

Insider Transactions at Neurocrine Biosciences

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. BMO Capital Markets increased their target price on shares of Neurocrine Biosciences from $96.00 to $115.00 and gave the company a "market perform" rating in a research report on Tuesday, May 6th. Piper Sandler reissued an "overweight" rating and set a $154.00 target price (down previously from $160.00) on shares of Neurocrine Biosciences in a research report on Tuesday, May 6th. Wall Street Zen cut shares of Neurocrine Biosciences from a "strong-buy" rating to a "buy" rating in a research report on Thursday, March 20th. Morgan Stanley reissued an "overweight" rating and set a $150.00 target price (down previously from $185.00) on shares of Neurocrine Biosciences in a research report on Friday, March 7th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Neurocrine Biosciences in a research report on Tuesday, February 11th. They set a "hold" rating and a $138.00 target price for the company. Three investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $162.00.

Neurocrine Biosciences Stock Up 0.9%

Shares of NASDAQ:NBIX traded up $1.06 during midday trading on Friday, reaching $120.18. The company's stock had a trading volume of 882,158 shares, compared to its average volume of 1,133,419. The firm has a market capitalization of $11.89 billion, a PE ratio of 36.53, a P/E/G ratio of 0.77 and a beta of 0.26. Neurocrine Biosciences, Inc. has a twelve month low of $84.23 and a twelve month high of $157.98. The stock has a fifty day moving average of $108.14 and a 200 day moving average of $121.91.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The company reported $0.08 earnings per share for the quarter, missing analysts' consensus estimates of $0.70 by ($0.62). The business 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 firm's revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.20 EPS. Sell-side analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

Neurocrine Biosciences announced that its Board of Directors has initiated a share buyback program on Friday, February 21st that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 4.2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board believes its stock is undervalued.

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.