Envestnet Asset Management Inc. Sells 30,330 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Envestnet Asset Management Inc. decreased its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 13.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 203,210 shares of the company's stock after selling 30,330 shares during the period. Envestnet Asset Management Inc. owned about 0.20% of Neurocrine Biosciences worth $27,738,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in NBIX. Vanguard Group Inc. increased its position 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 worth $1,381,331,000 after acquiring an additional 122,681 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Neurocrine Biosciences by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 1,875,062 shares of the company's stock worth $255,523,000 after buying an additional 15,830 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Neurocrine Biosciences by 102.9% during the 4th quarter. Wellington Management Group LLP now owns 1,457,425 shares of the company's stock worth $198,939,000 after buying an additional 739,199 shares during the last quarter. Bank of New York Mellon Corp grew its position 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 acquiring an additional 12,040 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Neurocrine Biosciences in the 4th quarter valued at approximately $115,193,000. Institutional investors and hedge funds own 92.59% of the company's stock.

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Insider Activity

In related news, insider Ingrid Delaet sold 623 shares of Neurocrine Biosciences stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $149.29, for a total transaction of $93,007.67. Following the completion of the sale, the insider now directly owns 3,442 shares of the company's stock, valued at $513,856.18. The trade was a 15.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Kyle Gano sold 65,000 shares of the company's stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $141.50, for a total value of $9,197,500.00. Following the completion of the sale, the chief executive officer now owns 135,392 shares of the company's stock, valued at $19,157,968. This represents a 32.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 232,906 shares of company stock valued at $33,869,030 over the last 90 days. 4.30% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have recently commented on NBIX. Bank of America decreased their price target on shares of Neurocrine Biosciences from $184.00 to $179.00 and set a "buy" rating for the company in a report on Friday, February 7th. Needham & Company LLC upgraded shares of Neurocrine Biosciences from a "hold" rating to a "buy" rating and set a $138.00 price objective on the stock in a research note on Tuesday. HC Wainwright reissued a "buy" rating and issued a $185.00 price objective on shares of Neurocrine Biosciences in a research note on Friday, February 21st. Royal Bank of Canada upgraded shares of Neurocrine Biosciences from a "sector perform" rating to an "outperform" rating and dropped their price target for the stock from $138.00 to $137.00 in a research report on Monday. Finally, William Blair restated an "outperform" rating on shares of Neurocrine Biosciences in a research report on Friday, February 7th. Three investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $161.86.

Neurocrine Biosciences Stock Performance

Shares of NASDAQ NBIX traded up $1.27 during trading on Tuesday, reaching $96.16. The company had a trading volume of 1,767,586 shares, compared to its average volume of 1,037,383. Neurocrine Biosciences, Inc. has a 52 week low of $84.23 and a 52 week high of $157.98. The business's 50 day moving average price is $110.55 and its 200-day moving average price is $122.92. The stock has a market cap of $9.59 billion, a PE ratio of 29.23, a PEG ratio of 0.77 and a beta of 0.33.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last posted 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%. Equities analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.

Neurocrine Biosciences announced that its Board of Directors 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 purchase 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 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.