Capital Fund Management S.A. Cuts Stock Holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Capital Fund Management S.A. cut its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 6.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 104,524 shares of the company's stock after selling 7,048 shares during the period. Capital Fund Management S.A. owned about 0.10% of Neurocrine Biosciences worth $14,268,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Quantinno Capital Management LP grew its holdings in shares of Neurocrine Biosciences by 25.0% in the third quarter. Quantinno Capital Management LP now owns 2,239 shares of the company's stock worth $258,000 after purchasing an additional 448 shares during the last quarter. EP Wealth Advisors LLC acquired a new position in shares of Neurocrine Biosciences in the 3rd quarter valued at $483,000. National Bank of Canada FI increased its holdings in Neurocrine Biosciences by 83.3% in the 3rd quarter. National Bank of Canada FI now owns 1,351 shares of the company's stock worth $156,000 after acquiring an additional 614 shares in the last quarter. Geode Capital Management LLC raised its stake in Neurocrine Biosciences by 2.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,859,232 shares of the company's stock valued at $213,773,000 after purchasing an additional 39,610 shares during the last quarter. Finally, Coldstream Capital Management Inc. increased its stake in shares of Neurocrine Biosciences by 15.2% in the 3rd quarter. Coldstream Capital Management Inc. now owns 3,917 shares of the company's stock worth $452,000 after acquiring an additional 516 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors.

Remove Ads

Neurocrine Biosciences Trading Up 1.3 %

Shares of Neurocrine Biosciences stock traded up $1.27 during trading on Tuesday, hitting $96.16. 1,767,586 shares of the stock were exchanged, compared to its average volume of 1,037,383. Neurocrine Biosciences, Inc. has a 1-year low of $84.23 and a 1-year high of $157.98. The stock has a market capitalization of $9.59 billion, a price-to-earnings ratio of 29.23, a price-to-earnings-growth ratio of 0.77 and a beta of 0.33. The company has a fifty day moving average price of $110.55 and a 200-day moving average price of $122.92.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last issued its earnings results 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%. Equities research analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

Neurocrine Biosciences declared that its board has approved a share repurchase plan on Friday, February 21st that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 4.2% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's board believes its stock is undervalued.

Analysts Set New Price Targets

Several research firms have weighed in on NBIX. UBS Group dropped their target price on Neurocrine Biosciences from $154.00 to $137.00 and set a "buy" rating for the company in a research report on Friday, April 4th. HC Wainwright restated a "buy" rating and set a $185.00 price objective on shares of Neurocrine Biosciences in a research report on Friday, February 21st. Piper Sandler reiterated an "overweight" rating and set a $160.00 target price on shares of Neurocrine Biosciences in a research report on Monday, December 23rd. Wedbush reduced their price objective on shares of Neurocrine Biosciences from $157.00 to $147.00 and set an "outperform" rating on the stock in a research note on Friday, February 7th. Finally, Morgan Stanley reissued an "overweight" rating and set a $150.00 price target (down previously from $185.00) on shares of Neurocrine Biosciences in a research report on Friday, March 7th. Three investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Neurocrine Biosciences presently has an average rating of "Moderate Buy" and an average target price of $161.86.

Insider Transactions at Neurocrine Biosciences

In other Neurocrine Biosciences news, CEO Kyle Gano sold 65,000 shares of the company's stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $141.50, for a total transaction of $9,197,500.00. Following the transaction, the chief executive officer now owns 135,392 shares in the company, valued at approximately $19,157,968. This represents a 32.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kevin Charles Gorman sold 146,105 shares of the firm's stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $149.46, for a total value of $21,836,853.30. Following the transaction, the director now directly owns 514,596 shares of the company's stock, valued at approximately $76,911,518.16. This trade represents a 22.11 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 232,906 shares of company stock valued at $33,869,030. 4.30% of the stock is owned by corporate insiders.

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.