EFG Asset Management North America Corp. Sells 14,190 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

EFG Asset Management North America Corp. lowered its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 51.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,321 shares of the company's stock after selling 14,190 shares during the quarter. EFG Asset Management North America Corp.'s holdings in Neurocrine Biosciences were worth $1,819,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Neurocrine Biosciences by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 10,119,641 shares of the company's stock valued at $1,381,331,000 after acquiring an additional 122,681 shares during the last quarter. State Street Corp grew its stake in Neurocrine Biosciences by 11.7% in the third quarter. State Street Corp now owns 5,148,293 shares of the company's stock valued at $593,186,000 after acquiring an additional 539,936 shares during the period. Geode Capital Management LLC increased its holdings in shares of Neurocrine Biosciences by 2.2% during the third quarter. Geode Capital Management LLC now owns 1,859,232 shares of the company's stock valued at $213,773,000 after acquiring an additional 39,610 shares in the last quarter. Braidwell LP raised its position in shares of Neurocrine Biosciences by 20.9% during the third quarter. Braidwell LP now owns 917,674 shares of the company's stock worth $105,734,000 after purchasing an additional 158,665 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Neurocrine Biosciences by 1.4% in the 4th quarter. Bank of New York Mellon Corp now owns 870,290 shares of the company's stock worth $118,795,000 after purchasing an additional 12,040 shares in the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Insiders Place Their Bets

In other Neurocrine Biosciences news, Director Kevin Charles Gorman sold 5,844 shares of the business's stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $116.69, for a total transaction of $681,936.36. Following the completion of the sale, the director now directly owns 521,618 shares in the company, valued at approximately $60,867,604.42. The trade was a 1.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ingrid Delaet sold 272 shares of the firm's stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $138.10, for a total value of $37,563.20. Following the completion of the transaction, the insider now owns 2,507 shares in the company, valued at approximately $346,216.70. This trade represents a 9.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 233,178 shares of company stock worth $33,906,594 over the last three months. Company insiders own 4.30% of the company's stock.

Wall Street Analysts Forecast Growth

NBIX has been the subject of a number of recent research reports. 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 note on Friday, February 7th. StockNews.com downgraded shares of Neurocrine Biosciences from a "strong-buy" rating to a "buy" rating in a research report on Thursday, March 20th. William Blair restated an "outperform" rating on shares of Neurocrine Biosciences in a report on Friday, February 7th. Morgan Stanley reiterated an "overweight" rating and set a $150.00 price target (down previously from $185.00) on shares of Neurocrine Biosciences in a research note on Friday, March 7th. Finally, JPMorgan Chase & Co. increased their price objective on Neurocrine Biosciences from $183.00 to $184.00 and gave the stock an "overweight" rating in a research note on Wednesday. Five equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $165.38.

Neurocrine Biosciences Price Performance

NBIX traded down $0.84 during trading on Friday, hitting $113.16. 800,768 shares of the stock traded hands, compared to its average volume of 981,987. The firm has a 50-day moving average of $124.17 and a 200 day moving average of $124.94. 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 $11.28 billion, a P/E ratio of 34.40, a price-to-earnings-growth ratio of 0.77 and a beta of 0.35.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The company reported $1.00 earnings per share 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 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 buyback plan on Friday, February 21st that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to repurchase up to 4.2% of its stock through open market purchases. Stock buyback plans are often an indication that the company's leadership believes its stock is undervalued.

Neurocrine Biosciences 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.