Corebridge Financial Inc. Sells 4,872 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Corebridge Financial Inc. lessened its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 4.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 115,699 shares of the company's stock after selling 4,872 shares during the period. Corebridge Financial Inc. owned about 0.11% of Neurocrine Biosciences worth $15,793,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Caprock Group LLC bought a new stake in shares of Neurocrine Biosciences during the 4th quarter valued at approximately $236,000. Charles Schwab Investment Management Inc. grew its stake in shares of Neurocrine Biosciences by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 762,557 shares of the company's stock worth $104,089,000 after buying an additional 15,266 shares during the last quarter. Tri Ri Asset Management Corp acquired a new position in shares of Neurocrine Biosciences during the third quarter worth $3,236,000. Oakworth Capital Inc. bought a new position in shares of Neurocrine Biosciences in the 4th quarter valued at $379,000. Finally, Synergy Asset Management LLC acquired a new stake in shares of Neurocrine Biosciences during the 4th quarter valued at $996,000. Institutional investors and hedge funds own 92.59% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Bank of America lowered their target price on Neurocrine Biosciences from $184.00 to $179.00 and set a "buy" rating for the company in a report on Friday, February 7th. Piper Sandler reiterated an "overweight" rating and issued a $160.00 price objective on shares of Neurocrine Biosciences in a report on Monday, December 23rd. Wedbush decreased their price target on shares of Neurocrine Biosciences from $157.00 to $147.00 and set an "outperform" rating for the company in a research report on Friday, February 7th. Royal Bank of Canada reduced their price objective on shares of Neurocrine Biosciences from $154.00 to $148.00 and set a "sector perform" rating on the stock in a research note on Friday, February 7th. Finally, StockNews.com lowered Neurocrine Biosciences from a "strong-buy" rating to a "buy" rating in a research note on Thursday, March 20th. Five equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $165.38.

Remove Ads

Neurocrine Biosciences Trading Down 0.7 %

Shares of NBIX traded down $0.84 during trading hours on Friday, reaching $113.16. The stock had a trading volume of 800,768 shares, compared to its average volume of 981,987. The company has a market capitalization of $11.28 billion, a price-to-earnings ratio of 34.40, a P/E/G ratio of 0.77 and a beta of 0.35. The firm has a 50-day simple moving average of $124.17 and a 200 day simple moving average of $124.94. Neurocrine Biosciences, Inc. has a 12 month low of $105.18 and a 12 month high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last posted its earnings results on Thursday, February 6th. The company reported $1.00 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%. On average, equities analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

Neurocrine Biosciences declared that its Board of Directors has initiated a share repurchase plan on Friday, February 21st that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to buy up to 4.2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.

Insider Activity

In other news, CEO Kyle Gano sold 65,000 shares of the business'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 value of $9,197,500.00. Following the transaction, the chief executive officer now owns 135,392 shares in the company, valued at $19,157,968. The trade was a 32.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kevin Charles Gorman sold 2,707 shares of the company's stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $152.92, for a total value of $413,954.44. Following the completion of the transaction, the director now directly owns 517,030 shares of the company's stock, valued at approximately $79,064,227.60. This represents a 0.52 % 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 worth $33,906,594 over the last 90 days. 4.30% of the stock is currently owned by corporate 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.