Schroder Investment Management Group Sells 84,539 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Schroder Investment Management Group lessened its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 40.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 126,735 shares of the company's stock after selling 84,539 shares during the period. Schroder Investment Management Group owned approximately 0.13% of Neurocrine Biosciences worth $17,299,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Raymond James Financial Inc. bought a new stake in Neurocrine Biosciences in the 4th quarter valued at about $115,193,000. Thrivent Financial for Lutherans boosted its stake in shares of Neurocrine Biosciences by 2,759.4% in the fourth quarter. Thrivent Financial for Lutherans now owns 737,772 shares of the company's stock valued at $100,705,000 after buying an additional 711,970 shares during the period. State Street Corp grew its position in Neurocrine Biosciences by 11.7% during the third quarter. State Street Corp now owns 5,148,293 shares of the company's stock worth $593,186,000 after buying an additional 539,936 shares in the last quarter. Jennison Associates LLC increased its stake in Neurocrine Biosciences by 145.1% during the 4th quarter. Jennison Associates LLC now owns 820,694 shares of the company's stock worth $112,025,000 after acquiring an additional 485,894 shares during the period. Finally, Norges Bank acquired a new position in Neurocrine Biosciences in the 4th quarter valued at $44,403,000. Institutional investors and hedge funds own 92.59% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Morgan Stanley reissued an "overweight" rating and set a $150.00 target price (down from $185.00) on shares of Neurocrine Biosciences in a report on Friday, March 7th. Piper Sandler reaffirmed an "overweight" rating and set a $160.00 price objective on shares of Neurocrine Biosciences in a research report on Monday, December 23rd. Bank of America decreased their target price on shares of Neurocrine Biosciences from $184.00 to $179.00 and set a "buy" rating on the stock in a report on Friday, February 7th. Canaccord Genuity Group cut their price target on shares of Neurocrine Biosciences from $172.00 to $163.00 and set a "buy" rating for the company in a report on Friday, February 7th. Finally, Royal Bank of Canada decreased their price objective on shares of Neurocrine Biosciences from $154.00 to $148.00 and set a "sector perform" rating on the stock in a research note on Friday, February 7th. Five 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 stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $163.52.

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Insider Activity at Neurocrine Biosciences

In other news, Director Kevin Charles Gorman sold 5,844 shares of Neurocrine Biosciences 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. This trade represents a 1.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Kyle Gano sold 65,000 shares of the business's stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $141.50, for a total value of $9,197,500.00. Following the completion of the transaction, the chief executive officer now directly owns 135,392 shares in the company, valued at $19,157,968. This represents a 32.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 232,906 shares of company stock worth $33,869,030 over the last ninety days. Insiders own 4.30% of the company's stock.

Neurocrine Biosciences Stock Performance

Shares of NASDAQ:NBIX traded down $2.40 during mid-day trading on Monday, reaching $93.25. 2,468,500 shares of the company's stock were exchanged, compared to its average volume of 1,007,072. The firm has a market capitalization of $9.30 billion, a price-to-earnings ratio of 28.34, a PEG ratio of 0.77 and a beta of 0.33. Neurocrine Biosciences, Inc. has a twelve month low of $90.33 and a twelve month high of $157.98. The business's fifty day moving average price is $118.91 and its 200-day moving average price is $124.18.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last released 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%. Analysts predict that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

Neurocrine Biosciences declared that its Board of Directors has initiated a stock buyback plan on Friday, February 21st that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 4.2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's board 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.