Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Shares Sold by Sarissa Capital Management LP

Sarissa Capital Management LP decreased its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 24.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 309,116 shares of the company's stock after selling 101,367 shares during the period. Neurocrine Biosciences comprises 13.1% of Sarissa Capital Management LP's holdings, making the stock its 3rd largest holding. Sarissa Capital Management LP owned approximately 0.31% of Neurocrine Biosciences worth $42,194,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in NBIX. Vanguard Group Inc. grew its holdings in Neurocrine Biosciences by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 10,119,641 shares of the company's stock worth $1,381,331,000 after purchasing an additional 122,681 shares during the period. Dodge & Cox increased its holdings in Neurocrine Biosciences by 134.2% during the 4th quarter. Dodge & Cox now owns 3,016,425 shares of the company's stock worth $411,742,000 after acquiring an additional 1,728,605 shares during the period. AQR Capital Management LLC raised its position in Neurocrine Biosciences by 2.9% during the fourth quarter. AQR Capital Management LLC now owns 1,896,891 shares of the company's stock valued at $258,926,000 after purchasing an additional 53,610 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Neurocrine Biosciences by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 1,875,062 shares of the company's stock valued at $255,523,000 after buying an additional 15,830 shares during the last quarter. Finally, Wellington Management Group LLP boosted its position in Neurocrine Biosciences by 102.9% during the 4th quarter. Wellington Management Group LLP now owns 1,457,425 shares of the company's stock valued at $198,939,000 after acquiring an additional 739,199 shares in the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Neurocrine Biosciences Trading Down 1.0%

Shares of NASDAQ NBIX traded down $1.20 during mid-day trading on Thursday, hitting $119.37. The company had a trading volume of 315,319 shares, compared to its average volume of 1,130,352. Neurocrine Biosciences, Inc. has a one year low of $84.23 and a one year high of $157.98. The firm has a 50-day simple moving average of $107.77 and a two-hundred day simple moving average of $121.93. The company has a market capitalization of $11.81 billion, a PE ratio of 36.25, a price-to-earnings-growth ratio of 0.77 and a beta of 0.26.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last announced its earnings results on Monday, May 5th. The company reported $0.08 earnings per share (EPS) 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 the consensus estimate of $587.06 million. Neurocrine Biosciences had a net margin of 14.49% and a return on equity of 13.38%. The company's revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.20 EPS. Sell-side analysts expect that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

Neurocrine Biosciences announced that its board has approved a stock buyback plan on Friday, February 21st that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to buy up to 4.2% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's leadership believes its stock is undervalued.

Insider Transactions at Neurocrine Biosciences

In other Neurocrine Biosciences news, Director William H. Rastetter sold 30,000 shares of Neurocrine Biosciences 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 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 4.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on NBIX shares. BMO Capital Markets lifted their price objective on Neurocrine Biosciences from $96.00 to $115.00 and gave the stock a "market perform" rating in a report on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Neurocrine Biosciences in a research note on Tuesday, February 11th. They set a "hold" rating and a $138.00 target price for the company. Needham & Company LLC lifted their price target on shares of Neurocrine Biosciences from $138.00 to $139.00 and gave the stock a "buy" rating in a research note on Tuesday, May 6th. Evercore ISI cut their price target on Neurocrine Biosciences from $190.00 to $185.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th. Finally, JPMorgan Chase & Co. raised their price target 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. Three investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus 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.