Tobam Has $29.89 Million Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Tobam lowered its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 23.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 226,841 shares of the company's stock after selling 70,343 shares during the period. Neurocrine Biosciences comprises 2.6% of Tobam's portfolio, making the stock its 9th largest position. Tobam owned 0.23% of Neurocrine Biosciences worth $29,889,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the business. Sunbelt Securities Inc. lifted its position in shares of Neurocrine Biosciences by 34.3% during the third quarter. Sunbelt Securities Inc. now owns 325 shares of the company's stock worth $37,000 after purchasing an additional 83 shares during the last quarter. Captrust Financial Advisors lifted its holdings in Neurocrine Biosciences by 3.5% during the 2nd quarter. Captrust Financial Advisors now owns 2,983 shares of the company's stock worth $281,000 after buying an additional 100 shares during the last quarter. Red Spruce Capital LLC grew its position in shares of Neurocrine Biosciences by 0.6% in the 4th quarter. Red Spruce Capital LLC now owns 16,026 shares of the company's stock worth $2,112,000 after acquiring an additional 101 shares in the last quarter. Metis Global Partners LLC grew its position in shares of Neurocrine Biosciences by 4.7% in the 3rd quarter. Metis Global Partners LLC now owns 2,361 shares of the company's stock worth $266,000 after acquiring an additional 106 shares in the last quarter. Finally, First Republic Investment Management Inc. increased its holdings in shares of Neurocrine Biosciences by 1.0% in the 4th quarter. First Republic Investment Management Inc. now owns 11,069 shares of the company's stock valued at $1,322,000 after acquiring an additional 113 shares during the last quarter. Institutional investors and hedge funds own 92.59% of the company's stock.

Wall Street Analyst Weigh In

NBIX has been the subject of a number of research reports. StockNews.com raised shares of Neurocrine Biosciences from a "buy" rating to a "strong-buy" rating in a report on Thursday, February 8th. Citigroup decreased their target price on Neurocrine Biosciences from $141.00 to $140.00 and set a "neutral" rating for the company in a research note on Thursday, February 8th. Mizuho upped their target price on Neurocrine Biosciences from $116.00 to $140.00 and gave the company a "neutral" rating in a report on Thursday, February 8th. Barclays raised their price target on Neurocrine Biosciences from $145.00 to $150.00 and gave the stock an "overweight" rating in a report on Tuesday, January 23rd. Finally, Wells Fargo & Company boosted their price objective on Neurocrine Biosciences from $127.00 to $140.00 and gave the company an "equal weight" rating in a research report on Thursday, February 8th. Six research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $138.46.

Insider Activity

In related news, insider Eiry Roberts sold 1,457 shares of the business's stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $140.79, for a total value of $205,131.03. Following the sale, the insider now directly owns 20,832 shares in the company, valued at approximately $2,932,937.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Neurocrine Biosciences news, insider Ingrid Delaet sold 200 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $140.00, for a total value of $28,000.00. Following the completion of the sale, the insider now owns 7,507 shares in the company, valued at approximately $1,050,980. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Eiry Roberts sold 1,457 shares of Neurocrine Biosciences stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $140.79, for a total value of $205,131.03. Following the sale, the insider now directly owns 20,832 shares of the company's stock, valued at approximately $2,932,937.28. The disclosure for this sale can be found here. In the last quarter, insiders sold 177,176 shares of company stock worth $24,562,081. Corporate insiders own 4.40% of the company's stock.

Neurocrine Biosciences Stock Down 0.4 %

NASDAQ NBIX traded down $0.50 on Tuesday, reaching $138.94. 598,996 shares of the stock traded hands, compared to its average volume of 861,434. Neurocrine Biosciences, Inc. has a 12 month low of $89.04 and a 12 month high of $148.37. The company has a market cap of $13.83 billion, a price-to-earnings ratio of 57.41, a P/E/G ratio of 0.89 and a beta of 0.25. The firm's fifty day simple moving average is $137.02 and its 200 day simple moving average is $125.87.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last announced its quarterly earnings data on Wednesday, February 7th. The company reported $1.44 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.31. The business had revenue of $515.20 million during the quarter, compared to analyst estimates of $518.52 million. Neurocrine Biosciences had a return on equity of 12.85% and a net margin of 13.23%. The company's revenue was up 25.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.88 earnings per share. As a group, equities research analysts forecast that Neurocrine Biosciences, Inc. will post 4.88 EPS for the current fiscal year.

About Neurocrine Biosciences

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.