Tidal Investments LLC Cuts Stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Tidal Investments LLC cut its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 37.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,425 shares of the company's stock after selling 5,618 shares during the quarter. Tidal Investments LLC's holdings in Neurocrine Biosciences were worth $1,287,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Golden State Wealth Management LLC purchased a new position in shares of Neurocrine Biosciences during the 4th quarter worth approximately $25,000. Huntington National Bank lifted its position in Neurocrine Biosciences by 73.5% during the fourth quarter. Huntington National Bank now owns 229 shares of the company's stock valued at $31,000 after buying an additional 97 shares during the period. GeoWealth Management LLC boosted its holdings in shares of Neurocrine Biosciences by 65.4% during the 4th quarter. GeoWealth Management LLC now owns 258 shares of the company's stock valued at $35,000 after buying an additional 102 shares in the last quarter. Lindbrook Capital LLC grew its position in shares of 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 during the period. Finally, R Squared Ltd bought a new position in shares of Neurocrine Biosciences in the 4th quarter worth about $61,000. 92.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NBIX has been the topic of a number of analyst reports. Needham & Company LLC boosted their price target on Neurocrine Biosciences from $138.00 to $139.00 and gave the stock a "buy" rating in a research report on Tuesday, May 6th. UBS Group lifted their price objective on Neurocrine Biosciences from $137.00 to $152.00 and gave the company a "buy" rating in a research note on Tuesday, May 6th. William Blair reissued an "outperform" rating on shares of Neurocrine Biosciences in a research note on Friday, February 7th. Evercore ISI reduced their price target on Neurocrine Biosciences from $190.00 to $185.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $154.00 price target (down previously from $160.00) on shares of Neurocrine Biosciences in a research report on Tuesday, May 6th. Three research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat.com, Neurocrine Biosciences has a consensus rating of "Moderate Buy" and an average price target of $162.00.

Neurocrine Biosciences Price Performance

Neurocrine Biosciences stock traded down $1.41 during mid-day trading on Friday, reaching $122.25. 197,755 shares of the stock traded hands, compared to its average volume of 1,132,421. Neurocrine Biosciences, Inc. has a 12-month low of $84.23 and a 12-month high of $157.98. The business's 50-day moving average is $108.97 and its 200-day moving average is $121.82. The stock has a market capitalization of $12.10 billion, a PE ratio of 37.19, a price-to-earnings-growth ratio of 0.77 and a beta of 0.26.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.62). The business had revenue of $572.60 million for 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%. Neurocrine Biosciences's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.20 EPS. Equities analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

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

Insider Buying and Selling at Neurocrine Biosciences

In other Neurocrine Biosciences news, Director William H. Rastetter sold 30,000 shares of the company's stock in a transaction dated 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 in the company, valued at $4,131,508.20. This represents a 44.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Kevin Charles Gorman sold 9,613 shares of Neurocrine Biosciences stock in a transaction dated Tuesday, May 27th. The shares were 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 ownership of the stock. The disclosure for this sale can be found here. 4.80% of the stock is owned by corporate 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.