Renaissance Technologies LLC Has $339.80 Million Stock Holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Renaissance Technologies LLC reduced its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 3.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,489,397 shares of the company's stock after selling 85,149 shares during the period. Neurocrine Biosciences comprises 0.5% of Renaissance Technologies LLC's portfolio, making the stock its 25th largest position. Renaissance Technologies LLC owned 2.46% of Neurocrine Biosciences worth $339,803,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Golden State Wealth Management LLC purchased a new position in Neurocrine Biosciences in the 4th quarter valued at about $25,000. Huntington National Bank boosted its holdings in Neurocrine Biosciences by 73.5% in the fourth quarter. Huntington National Bank now owns 229 shares of the company's stock valued at $31,000 after purchasing an additional 97 shares during the last quarter. Brooklyn Investment Group grew its stake in Neurocrine Biosciences by 99.1% during the 4th quarter. Brooklyn Investment Group now owns 231 shares of the company's stock valued at $32,000 after purchasing an additional 115 shares in the last quarter. Lindbrook Capital LLC grew its stake in Neurocrine Biosciences by 53.5% during the 4th quarter. Lindbrook Capital LLC now owns 373 shares of the company's stock valued at $51,000 after purchasing an additional 130 shares in the last quarter. Finally, R Squared Ltd purchased a new stake in Neurocrine Biosciences during the 4th quarter worth approximately $61,000. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Buying and Selling at Neurocrine Biosciences

In related news, insider Julie Cooke sold 1,551 shares of Neurocrine Biosciences stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $116.78, for a total transaction of $181,125.78. Following the transaction, the insider now directly owns 19,544 shares of the company's stock, valued at $2,282,348.32. The trade was a 7.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kevin Charles Gorman sold 2,707 shares of the business's stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $152.92, for a total transaction of $413,954.44. Following the completion of the sale, the director now owns 517,030 shares in the company, valued at approximately $79,064,227.60. This trade represents a 0.52 % decrease in their ownership of the stock. 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. Company insiders own 4.30% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Needham & Company LLC reissued a "hold" rating on shares of Neurocrine Biosciences in a research report on Friday, February 7th. Canaccord Genuity Group dropped their target price on shares of Neurocrine Biosciences from $172.00 to $163.00 and set a "buy" rating for the company in a research report on Friday, February 7th. HC Wainwright reaffirmed a "buy" rating and set a $185.00 price target on shares of Neurocrine Biosciences in a research report on Friday, February 21st. William Blair reissued an "outperform" rating on shares of Neurocrine Biosciences in a report on Friday, February 7th. Finally, UBS Group reduced their target price on Neurocrine Biosciences from $154.00 to $137.00 and set a "buy" rating on the stock in a report on Friday, April 4th. Five analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Neurocrine Biosciences presently has a consensus rating of "Moderate Buy" and a consensus price target of $163.52.

Neurocrine Biosciences Price Performance

NBIX stock traded up $0.15 on Friday, reaching $90.87. The company's stock had a trading volume of 1,620,786 shares, compared to its average volume of 1,030,863. The firm has a fifty day moving average of $111.68 and a two-hundred day moving average of $123.06. The company has a market capitalization of $9.06 billion, a P/E ratio of 27.62, a price-to-earnings-growth ratio of 0.77 and a beta of 0.33. Neurocrine Biosciences, Inc. has a 52 week low of $84.23 and a 52 week high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last issued its quarterly earnings results 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 net margin of 14.49% and a return on equity of 13.38%. As a group, equities analysts expect that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

Neurocrine Biosciences announced that its board has approved 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 stock through open market purchases. Stock repurchase programs are often a sign that the company's board of directors believes its shares are 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.