Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Shares Sold by Martingale Asset Management L P

Martingale Asset Management L P trimmed its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 13.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,855 shares of the company's stock after selling 3,456 shares during the quarter. Martingale Asset Management L P's holdings in Neurocrine Biosciences were worth $3,120,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of NBIX. HighPoint Advisor Group LLC raised its stake in Neurocrine Biosciences by 4.1% in the fourth quarter. HighPoint Advisor Group LLC now owns 2,446 shares of the company's stock valued at $334,000 after buying an additional 96 shares in the last quarter. Huntington National Bank raised its position in shares of Neurocrine Biosciences by 73.5% during the 4th quarter. Huntington National Bank now owns 229 shares of the company's stock worth $31,000 after acquiring an additional 97 shares in the last quarter. Louisiana State Employees Retirement System lifted its stake in Neurocrine Biosciences by 0.4% during the fourth quarter. Louisiana State Employees Retirement System now owns 28,100 shares of the company's stock worth $3,836,000 after purchasing an additional 100 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in Neurocrine Biosciences by 0.5% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 22,361 shares of the company's stock valued at $3,052,000 after purchasing an additional 103 shares in the last quarter. Finally, Metis Global Partners LLC raised its holdings in Neurocrine Biosciences by 4.3% during the fourth quarter. Metis Global Partners LLC now owns 2,548 shares of the company's stock worth $348,000 after purchasing an additional 104 shares in the last quarter. 92.59% of the stock is owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

NBIX has been the topic of several research analyst reports. Barclays lifted their price target on shares of Neurocrine Biosciences from $160.00 to $165.00 and gave the stock an "overweight" rating in a research note on Monday, December 23rd. Wedbush cut their target price on Neurocrine Biosciences from $157.00 to $147.00 and set an "outperform" rating on the stock in a research report on Friday, February 7th. Morgan Stanley reissued an "overweight" rating and issued a $150.00 target price (down from $185.00) on shares of Neurocrine Biosciences in a research report on Friday, March 7th. William Blair reaffirmed an "outperform" rating on shares of Neurocrine Biosciences in a research report on Friday, February 7th. Finally, Piper Sandler restated an "overweight" rating and set a $160.00 target price on shares of Neurocrine Biosciences in a research report on Monday, December 23rd. Three research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Neurocrine Biosciences currently has an average rating of "Moderate Buy" and a consensus target price of $161.86.

Insider Activity at Neurocrine Biosciences

In other news, Director Kevin Charles Gorman sold 5,844 shares of the business's stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $116.69, for a total value of $681,936.36. Following the completion of the transaction, the director now owns 521,618 shares of the company's stock, valued at $60,867,604.42. The trade was a 1.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Julie Cooke sold 1,551 shares of the firm's stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $116.78, for a total transaction of $181,125.78. Following the sale, the insider now owns 19,544 shares in the company, valued at approximately $2,282,348.32. This trade represents a 7.35 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 232,906 shares of company stock valued at $33,869,030. 4.30% of the stock is owned by corporate insiders.

Neurocrine Biosciences Trading Up 0.3 %

Shares of NASDAQ:NBIX traded up $0.24 during midday trading on Tuesday, hitting $95.13. 616,515 shares of the stock were exchanged, compared to its average volume of 1,031,908. The stock has a market cap of $9.48 billion, a P/E ratio of 28.91, a PEG ratio of 0.77 and a beta of 0.33. Neurocrine Biosciences, Inc. has a twelve month low of $84.23 and a twelve month high of $157.98. The company has a 50 day moving average price of $110.55 and a 200-day moving average price of $122.92.

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%. On average, equities research analysts expect that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.

Neurocrine Biosciences announced that its Board of Directors has initiated a share repurchase program on Friday, February 21st that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 4.2% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's management believes its shares are undervalued.

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.