Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Shares Sold by Headlands Technologies LLC

Headlands Technologies LLC lessened its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 69.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,837 shares of the company's stock after selling 13,566 shares during the quarter. Headlands Technologies LLC's holdings in Neurocrine Biosciences were worth $797,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Geode Capital Management LLC boosted its stake in Neurocrine Biosciences by 0.9% during the fourth 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 period. HighPoint Advisor Group LLC boosted its position in shares of Neurocrine Biosciences by 4.1% during the 4th quarter. HighPoint Advisor Group LLC now owns 2,446 shares of the company's stock worth $334,000 after purchasing an additional 96 shares during the period. B. Metzler seel. Sohn & Co. AG raised its position in Neurocrine Biosciences by 5.1% in the fourth quarter. B. Metzler seel. Sohn & Co. AG now owns 5,044 shares of the company's stock valued at $689,000 after purchasing an additional 245 shares during the period. Pier 88 Investment Partners LLC lifted its position in shares of Neurocrine Biosciences by 51.8% during the fourth quarter. Pier 88 Investment Partners LLC now owns 4,690 shares of the company's stock worth $640,000 after purchasing an additional 1,600 shares in the last quarter. Finally, AIA Group Ltd purchased a new stake in shares of Neurocrine Biosciences during the 4th quarter worth $232,000. Institutional investors and hedge funds own 92.59% of the company's stock.

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Wall Street Analyst Weigh In

A number of brokerages have issued reports on NBIX. UBS Group decreased their price target on Neurocrine Biosciences from $154.00 to $137.00 and set a "buy" rating for the company in a report on Friday. William Blair reiterated an "outperform" rating on shares of Neurocrine Biosciences in a research note on Friday, February 7th. JPMorgan Chase & Co. upped their price objective on shares of Neurocrine Biosciences from $183.00 to $184.00 and gave the company an "overweight" rating in a research note on Wednesday, March 26th. HC Wainwright reissued a "buy" rating and issued a $185.00 target price on shares of Neurocrine Biosciences in a research report on Friday, February 21st. Finally, Royal Bank of Canada decreased their price objective on Neurocrine Biosciences from $154.00 to $148.00 and set a "sector perform" rating for the company in a report on Friday, February 7th. Five research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Neurocrine Biosciences has a consensus rating of "Moderate Buy" and an average target price of $163.52.

Neurocrine Biosciences Trading Down 3.6 %

NBIX traded down $3.48 during trading on Monday, hitting $92.17. 832,251 shares of the company's stock were exchanged, compared to its average volume of 1,000,432. Neurocrine Biosciences, Inc. has a 1 year low of $90.15 and a 1 year high of $157.98. The stock has a 50 day moving average price of $120.01 and a 200 day moving average price of $124.37. The firm has a market cap of $9.19 billion, a P/E ratio of 27.81, a price-to-earnings-growth ratio of 0.77 and a beta of 0.33.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last announced its quarterly 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 net margin of 14.49% and a return on equity of 13.38%. Analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

Neurocrine Biosciences announced that its board has authorized a stock buyback program on Friday, February 21st that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 4.2% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board believes its shares are undervalued.

Insider Activity

In other Neurocrine Biosciences news, CFO Matt Abernethy sold 1,283 shares of the company's stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $152.87, for a total value of $196,132.21. Following the transaction, the chief financial officer now directly owns 32,681 shares of the company's stock, valued at $4,995,944.47. This represents a 3.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Kevin Charles Gorman sold 5,844 shares of the firm's stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $116.69, for a total transaction of $681,936.36. Following the sale, the director now directly owns 521,618 shares of the company's stock, valued at $60,867,604.42. The trade was a 1.11 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 232,906 shares of company stock worth $33,869,030. 4.30% of the stock is currently 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.