Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Shares Sold by Advisors Asset Management Inc.

Advisors Asset Management Inc. trimmed its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 5.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,395 shares of the company’s stock after selling 2,181 shares during the quarter. Advisors Asset Management Inc.’s holdings in Neurocrine Biosciences were worth $4,968,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Louisiana State Employees Retirement System boosted its holdings in Neurocrine Biosciences by 0.4% in the 4th quarter. Louisiana State Employees Retirement System now owns 28,100 shares of the company’s stock worth $3,836,000 after buying an additional 100 shares during the last quarter. Metis Global Partners LLC boosted its stake in shares of Neurocrine Biosciences by 4.3% in the fourth quarter. Metis Global Partners LLC now owns 2,548 shares of the company’s stock worth $348,000 after acquiring an additional 104 shares during the last quarter. Commerce Bank increased its position in shares of Neurocrine Biosciences by 2.6% during the third quarter. Commerce Bank now owns 4,199 shares of the company’s stock worth $484,000 after purchasing an additional 108 shares in the last quarter. Brooklyn Investment Group raised its stake in Neurocrine Biosciences by 99.1% in the 4th quarter. Brooklyn Investment Group now owns 231 shares of the company’s stock valued at $32,000 after purchasing an additional 115 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its holdings in Neurocrine Biosciences by 0.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 20,633 shares of the company’s stock valued at $2,816,000 after purchasing an additional 117 shares in the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Neurocrine Biosciences Price Performance

NASDAQ:NBIX opened at $110.31 on Thursday. Neurocrine Biosciences, Inc. has a 12 month low of $105.18 and a 12 month high of $157.98. The firm has a market capitalization of $11.00 billion, a PE ratio of 33.53, a price-to-earnings-growth ratio of 0.77 and a beta of 0.35. The business’s fifty day moving average price is $128.06 and its 200 day moving average price is $125.36.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings data on Thursday, February 6th. The company reported $1.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.62 by ($0.62). Neurocrine Biosciences had a return on equity of 13.38% and a net margin of 14.49%. As a group, equities analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

Neurocrine Biosciences declared that its board has authorized a share repurchase plan on Friday, February 21st that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 4.2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

NBIX has been the subject of a number of recent research reports. William Blair reiterated an “outperform” rating on shares of Neurocrine Biosciences in a research report on Friday, February 7th. Deutsche Bank Aktiengesellschaft started coverage on shares of Neurocrine Biosciences in a report on Tuesday, February 11th. They issued a “hold” rating and a $138.00 price objective for the company. Piper Sandler restated an “overweight” rating and set a $160.00 target price on shares of Neurocrine Biosciences in a report on Monday, December 23rd. HC Wainwright reaffirmed a “buy” rating and issued a $185.00 price target on shares of Neurocrine Biosciences in a report on Friday, February 21st. Finally, Canaccord Genuity Group lowered their price objective on Neurocrine Biosciences from $172.00 to $163.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. Five research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Neurocrine Biosciences presently has an average rating of “Moderate Buy” and a consensus price target of $165.24.

Insider Activity

In related news, insider Julie Cooke sold 1,551 shares of the business’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $116.78, for a total value of $181,125.78. Following the transaction, the insider now owns 19,544 shares in the company, valued at $2,282,348.32. The trade was a 7.35 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Kevin Charles Gorman sold 5,844 shares of the stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $116.69, for a total value of $681,936.36. Following the sale, the director now directly owns 521,618 shares of the company’s stock, valued at $60,867,604.42. The trade was a 1.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 233,178 shares of company stock valued at $33,906,594 in the last ninety days. 4.30% of the stock is currently owned by company insiders.

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.