Federated Hermes Inc. Sells 54,079 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Federated Hermes Inc. cut its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 60.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 34,843 shares of the company's stock after selling 54,079 shares during the quarter. Federated Hermes Inc.'s holdings in Neurocrine Biosciences were worth $4,756,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Caprock Group LLC acquired a new position in Neurocrine Biosciences in the 4th quarter worth about $236,000. Charles Schwab Investment Management Inc. increased its holdings in Neurocrine Biosciences by 2.0% in 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 bought a new position in Neurocrine Biosciences during the third quarter valued at approximately $3,236,000. Oakworth Capital Inc. acquired a new stake in Neurocrine Biosciences in the fourth quarter valued at approximately $379,000. Finally, Synergy Asset Management LLC bought a new stake in Neurocrine Biosciences in the fourth quarter worth approximately $996,000. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Neurocrine Biosciences Trading Up 1.3 %

NBIX stock traded up $1.27 during midday trading on Tuesday, hitting $96.16. The stock had a trading volume of 1,767,586 shares, compared to its average volume of 1,036,311. 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 $110.55 and a 200 day simple moving average of $122.92. The firm has a market capitalization of $9.59 billion, a price-to-earnings ratio of 29.23, a P/E/G ratio of 0.77 and a beta of 0.33.

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Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The company reported $1.00 EPS for the quarter, missing analysts' consensus estimates 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 stock buyback 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 an indication that the company's board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

NBIX has been the topic of a number of recent research reports. William Blair restated an "outperform" rating on shares of Neurocrine Biosciences in a report on Friday, February 7th. Deutsche Bank Aktiengesellschaft assumed coverage on Neurocrine Biosciences in a report on Tuesday, February 11th. They set a "hold" rating and a $138.00 target price on the stock. Royal Bank of Canada upgraded Neurocrine Biosciences from a "sector perform" rating to an "outperform" rating and decreased their price target for the stock from $138.00 to $137.00 in a research note on Monday. Wedbush cut their price objective on 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, JPMorgan Chase & Co. boosted their target price on Neurocrine Biosciences from $183.00 to $184.00 and gave the stock an "overweight" rating in a report on Wednesday, March 26th. Three equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $161.86.

Insider Buying and Selling at Neurocrine Biosciences

In other Neurocrine Biosciences news, insider Julie Cooke sold 1,740 shares of the business's stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $152.89, for a total value of $266,028.60. Following the transaction, the insider now directly owns 18,202 shares in the company, valued at $2,782,903.78. The trade was a 8.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kevin Charles Gorman sold 146,105 shares of the firm's stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $149.46, for a total transaction of $21,836,853.30. Following the sale, the director now directly owns 514,596 shares of the company's stock, valued at approximately $76,911,518.16. The trade was a 22.11 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 232,906 shares of company stock valued at $33,869,030. 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.