Schonfeld Strategic Advisors LLC Cuts Stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Schonfeld Strategic Advisors LLC reduced its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 70.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,200 shares of the company's stock after selling 17,082 shares during the period. Schonfeld Strategic Advisors LLC's holdings in Neurocrine Biosciences were worth $983,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NBIX. Golden State Wealth Management LLC purchased a new stake in Neurocrine Biosciences in the fourth quarter valued at approximately $25,000. Huntington National Bank raised its position 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 purchasing an additional 97 shares during the last quarter. Brooklyn Investment Group boosted its stake in Neurocrine Biosciences by 99.1% during the 4th quarter. Brooklyn Investment Group now owns 231 shares of the company's stock worth $32,000 after purchasing an additional 115 shares during the period. GeoWealth Management LLC boosted its stake in Neurocrine Biosciences by 65.4% during the 4th quarter. GeoWealth Management LLC now owns 258 shares of the company's stock worth $35,000 after purchasing an additional 102 shares during the period. Finally, Lindbrook Capital LLC grew its position in Neurocrine Biosciences by 53.5% during the 4th quarter. Lindbrook Capital LLC now owns 373 shares of the company's stock worth $51,000 after purchasing an additional 130 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Neurocrine Biosciences

In other Neurocrine Biosciences news, Director William H. Rastetter sold 30,000 shares of the business's 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 transaction, the director now directly owns 37,491 shares in the company, valued at approximately $4,131,508.20. The trade was a 44.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kevin Charles Gorman sold 5,844 shares of the stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $116.69, for a total value of $681,936.36. Following the transaction, the director now owns 521,618 shares in the company, valued at $60,867,604.42. This trade represents a 1.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 39,953 shares of company stock valued at $4,467,990. 4.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft started 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. Evercore ISI decreased their price objective on Neurocrine Biosciences from $190.00 to $185.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. StockNews.com downgraded Neurocrine Biosciences from a "strong-buy" rating to a "buy" rating in a research note on Thursday, March 20th. JPMorgan Chase & Co. boosted their target price on Neurocrine Biosciences from $183.00 to $184.00 and gave the company an "overweight" rating in a report on Wednesday, March 26th. Finally, Royal Bank of Canada increased their price target on Neurocrine Biosciences from $137.00 to $145.00 and gave the stock an "outperform" rating in a report on Tuesday, May 6th. Three investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $162.00.

Neurocrine Biosciences Trading Down 2.4%

Shares of NBIX stock traded down $2.90 during mid-day trading on Tuesday, reaching $117.53. The stock had a trading volume of 329,760 shares, compared to its average volume of 1,114,795. The company has a market cap of $11.63 billion, a P/E ratio of 35.72, a price-to-earnings-growth ratio of 0.77 and a beta of 0.26. Neurocrine Biosciences, Inc. has a 12-month low of $84.23 and a 12-month high of $157.98. The business has a 50-day simple moving average of $106.36 and a 200 day simple moving average of $121.93.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The company reported $0.08 EPS for the quarter, missing analysts' consensus estimates of $0.70 by ($0.62). Neurocrine Biosciences had a net margin of 14.49% and a return on equity of 13.38%. The business had revenue of $572.60 million during the quarter, compared to analyst estimates of $587.06 million. During the same period in the previous year, the company posted $1.20 earnings per share. Neurocrine Biosciences's revenue was up 11.1% on a year-over-year basis. Research analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

Neurocrine Biosciences announced that its board has initiated a stock repurchase program on Friday, February 21st that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to purchase up to 4.2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its shares are undervalued.

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.