Russell Investments Group Ltd. Sells 84,560 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Russell Investments Group Ltd. lessened its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 40.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 126,217 shares of the company's stock after selling 84,560 shares during the period. Russell Investments Group Ltd. owned approximately 0.12% of Neurocrine Biosciences worth $17,231,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Raymond James Financial Inc. bought a new stake in shares of Neurocrine Biosciences during the fourth quarter valued at approximately $115,193,000. Wellington Management Group LLP increased its stake in Neurocrine Biosciences by 102.9% during the 4th quarter. Wellington Management Group LLP now owns 1,457,425 shares of the company's stock valued at $198,939,000 after buying an additional 739,199 shares during the period. Thrivent Financial for Lutherans lifted its stake in shares of Neurocrine Biosciences by 2,759.4% in the 4th quarter. Thrivent Financial for Lutherans now owns 737,772 shares of the company's stock worth $100,705,000 after acquiring an additional 711,970 shares during the period. Jennison Associates LLC boosted its holdings in shares of Neurocrine Biosciences by 145.1% in the fourth quarter. Jennison Associates LLC now owns 820,694 shares of the company's stock valued at $112,025,000 after acquiring an additional 485,894 shares in the last quarter. Finally, Norges Bank bought a new stake in Neurocrine Biosciences during the fourth quarter worth approximately $44,403,000. 92.59% of the stock is owned by institutional investors and hedge funds.

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Analyst Ratings Changes

Several brokerages have recently weighed in on NBIX. William Blair restated an "outperform" rating on shares of Neurocrine Biosciences in a report on Friday, February 7th. HC Wainwright reaffirmed a "buy" rating and set a $185.00 target price on shares of Neurocrine Biosciences in a report on Friday, February 21st. Barclays boosted their price objective on Neurocrine Biosciences from $160.00 to $165.00 and gave the stock an "overweight" rating in a report on Monday, December 23rd. Needham & Company LLC upgraded shares of Neurocrine Biosciences from a "hold" rating to a "buy" rating and set a $138.00 price target on the stock in a report on Tuesday. Finally, Morgan Stanley reissued an "overweight" rating and set a $150.00 target price (down from $185.00) on shares of Neurocrine Biosciences in a research note on Friday, March 7th. Three research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $161.86.

Insider Activity

In other Neurocrine Biosciences news, Director Kevin Charles Gorman sold 5,844 shares of the business's stock in a transaction dated Thursday, February 13th. The stock was 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 directly owns 521,618 shares of the company's stock, valued at approximately $60,867,604.42. The trade was a 1.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ingrid Delaet sold 623 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $149.29, for a total transaction of $93,007.67. Following the sale, the insider now owns 3,442 shares in the company, valued at $513,856.18. This trade represents a 15.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 232,906 shares of company stock valued at $33,869,030. 4.30% of the stock is currently owned by insiders.

Neurocrine Biosciences Stock Performance

Shares of NASDAQ:NBIX traded up $0.17 on Tuesday, hitting $95.06. The stock had a trading volume of 542,508 shares, compared to its average volume of 1,031,581. The company has a market capitalization of $9.48 billion, a price-to-earnings ratio of 28.96, a price-to-earnings-growth 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 firm's 50 day moving average price is $110.55 and its 200-day moving average price is $122.92.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The company reported $1.00 earnings per share 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, sell-side analysts predict that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

Neurocrine Biosciences announced that its board has approved a stock buyback plan on Friday, February 21st that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 4.2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board believes its stock is 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.