Barclays PLC Reduces Holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Barclays PLC lowered its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 1.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 178,368 shares of the company's stock after selling 3,223 shares during the quarter. Barclays PLC owned 0.18% of Neurocrine Biosciences worth $24,347,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Golden State Wealth Management LLC acquired a new stake in shares of Neurocrine Biosciences in the fourth quarter valued at about $25,000. Huntington National Bank increased its holdings in Neurocrine Biosciences by 73.5% in 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 in the last quarter. Brooklyn Investment Group lifted its position in shares of Neurocrine Biosciences by 99.1% during the 4th quarter. Brooklyn Investment Group now owns 231 shares of the company's stock valued at $32,000 after acquiring an additional 115 shares during the period. Lindbrook Capital LLC boosted its stake in shares of 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 acquiring an additional 130 shares in the last quarter. Finally, R Squared Ltd acquired a new stake in shares of Neurocrine Biosciences in the 4th quarter worth approximately $61,000. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Neurocrine Biosciences Price Performance

NASDAQ:NBIX traded up $0.81 during trading hours on Friday, reaching $106.57. 164,664 shares of the company were exchanged, compared to its average volume of 1,061,054. Neurocrine Biosciences, Inc. has a 52-week low of $84.23 and a 52-week high of $157.98. The stock has a 50 day simple moving average of $107.30 and a 200 day simple moving average of $122.12. The firm has a market cap of $10.54 billion, a price-to-earnings ratio of 32.28, a PEG ratio of 0.77 and a beta of 0.33.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last issued its earnings results on Thursday, February 6th. The company reported $1.00 earnings per share for the quarter, missing analysts' consensus estimates of $1.62 by ($0.62). Neurocrine Biosciences had a net margin of 14.49% and a return on equity of 13.38%. On average, analysts predict that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

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

Insider Activity

In related news, insider Ingrid Delaet sold 623 shares of Neurocrine Biosciences stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $149.29, for a total transaction of $93,007.67. Following the transaction, the insider now owns 3,442 shares in the company, valued at approximately $513,856.18. The trade was a 15.33 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Julie Cooke sold 1,740 shares of the stock in a transaction on Friday, January 31st. The shares were sold at an average price of $152.89, for a total value of $266,028.60. Following the completion of the sale, the insider now owns 18,202 shares of the company's stock, valued at approximately $2,782,903.78. This represents a 8.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 167,906 shares of company stock valued at $24,671,530 in the last three months. Corporate insiders own 4.30% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on NBIX. Deutsche Bank Aktiengesellschaft initiated coverage on Neurocrine Biosciences in a research report on Tuesday, February 11th. They set a "hold" rating and a $138.00 target price on the stock. UBS Group decreased their price objective on shares of Neurocrine Biosciences from $154.00 to $137.00 and set a "buy" rating on the stock in a research report on Friday, April 4th. Morgan Stanley restated an "overweight" rating and set a $150.00 target price (down from $185.00) on shares of Neurocrine Biosciences in a report on Friday, March 7th. Needham & Company LLC raised shares of Neurocrine Biosciences from a "hold" rating to a "buy" rating and set a $138.00 price target on the stock in a report on Tuesday, April 15th. Finally, William Blair reiterated an "outperform" rating on shares of Neurocrine Biosciences in a research report on Friday, February 7th. Three research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat.com, Neurocrine Biosciences currently has an average rating of "Moderate Buy" and an average price target of $161.14.

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.