Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Position Reduced by Candriam S.C.A.

Candriam S.C.A. reduced its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 37.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 303,972 shares of the company's stock after selling 179,269 shares during the quarter. Candriam S.C.A. owned 0.30% of Neurocrine Biosciences worth $41,492,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in NBIX. Robeco Institutional Asset Management B.V. raised its holdings in shares of Neurocrine Biosciences by 16.0% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 387,282 shares of the company's stock valued at $44,623,000 after buying an additional 53,301 shares during the period. Asset Management One Co. Ltd. increased its position in shares of Neurocrine Biosciences by 2.5% during the third quarter. Asset Management One Co. Ltd. now owns 69,230 shares of the company's stock worth $7,977,000 after acquiring an additional 1,705 shares during the period. QRG Capital Management Inc. boosted its holdings in Neurocrine Biosciences by 3.2% in the third quarter. QRG Capital Management Inc. now owns 18,279 shares of the company's stock valued at $2,106,000 after purchasing an additional 569 shares during the period. Impax Asset Management Group plc grew its stake in Neurocrine Biosciences by 70.0% during the 3rd quarter. Impax Asset Management Group plc now owns 85,000 shares of the company's stock worth $9,794,000 after purchasing an additional 35,000 shares in the last quarter. Finally, Kornitzer Capital Management Inc. KS acquired a new stake in Neurocrine Biosciences in the 3rd quarter valued at about $3,588,000. Hedge funds and other institutional investors own 92.59% of the company's stock.

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Wall Street Analyst Weigh In

NBIX has been the subject of a number of recent research reports. Morgan Stanley reiterated an "overweight" rating and issued a $150.00 price target (down previously from $185.00) on shares of Neurocrine Biosciences in a research note on Friday. Deutsche Bank Aktiengesellschaft began coverage on Neurocrine Biosciences in a research note on Tuesday, February 11th. They set a "hold" rating and a $138.00 target price for the company. HC Wainwright reiterated a "buy" rating and set a $185.00 price target on shares of Neurocrine Biosciences in a research note on Friday, February 21st. Barclays raised their price target on Neurocrine Biosciences from $160.00 to $165.00 and gave the stock an "overweight" rating in a research note on Monday, December 23rd. Finally, 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 research note on Friday, February 7th. Five equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Neurocrine Biosciences has an average rating of "Moderate Buy" and a consensus target price of $165.24.

Insider Transactions at Neurocrine Biosciences

In related news, insider Ingrid Delaet sold 272 shares of the stock in a transaction dated Tuesday, December 31st. The shares were 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 $346,216.70. This represents a 9.79 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Kevin Charles Gorman sold 146,105 shares of the company'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 value of $21,836,853.30. Following the completion of the sale, the director now owns 514,596 shares of the company's stock, valued at $76,911,518.16. This trade represents a 22.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 234,269 shares of company stock valued at $34,053,879 over the last 90 days. Corporate insiders own 4.30% of the company's stock.

Neurocrine Biosciences Stock Performance

Neurocrine Biosciences stock traded down $2.17 during trading on Monday, reaching $110.87. The company had a trading volume of 1,273,060 shares, compared to its average volume of 1,345,341. The firm has a market capitalization of $11.05 billion, a price-to-earnings ratio of 33.70, a PEG ratio of 0.77 and a beta of 0.35. Neurocrine Biosciences, Inc. has a 12-month low of $110.25 and a 12-month high of $157.98. The stock's 50 day moving average price is $132.47 and its two-hundred day moving average price is $127.02.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The company reported $1.00 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.62 by ($0.62). Neurocrine Biosciences had a net margin of 14.49% and a return on equity of 13.38%. As a group, research analysts expect that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.

Neurocrine Biosciences declared that its board has initiated a stock buyback program on Friday, February 21st that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 4.2% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's board believes its stock is undervalued.

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.