Sei Investments Co. Trims Stock Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Sei Investments Co. reduced its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 3.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 150,424 shares of the company's stock after selling 4,695 shares during the quarter. Sei Investments Co. owned 0.15% of Neurocrine Biosciences worth $20,533,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in NBIX. Commerce Bank increased its position in Neurocrine Biosciences by 2.6% during the 3rd quarter. Commerce Bank now owns 4,199 shares of the company's stock valued at $484,000 after purchasing an additional 108 shares during the period. Cerity Partners LLC increased its holdings in Neurocrine Biosciences by 42.4% during the third quarter. Cerity Partners LLC now owns 39,024 shares of the company's stock valued at $4,496,000 after buying an additional 11,622 shares during the period. Algert Global LLC purchased a new stake in Neurocrine Biosciences during the third quarter worth $2,116,000. Daiwa Securities Group Inc. lifted its holdings in Neurocrine Biosciences by 34.1% during the third quarter. Daiwa Securities Group Inc. now owns 11,798 shares of the company's stock worth $1,360,000 after buying an additional 2,997 shares during the period. Finally, Fisher Asset Management LLC lifted its holdings in Neurocrine Biosciences by 7.8% during the third quarter. Fisher Asset Management LLC now owns 68,270 shares of the company's stock worth $7,866,000 after buying an additional 4,930 shares during the period. 92.59% of the stock is owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

A number of equities research analysts recently weighed in on NBIX shares. Royal Bank of Canada decreased their price objective on Neurocrine Biosciences from $154.00 to $148.00 and set a "sector perform" rating for the company in a research note on Friday, February 7th. Piper Sandler reiterated an "overweight" rating and issued a $160.00 target price on shares of Neurocrine Biosciences in a report on Monday, December 23rd. William Blair restated an "outperform" rating on shares of Neurocrine Biosciences in a report on Friday, February 7th. Morgan Stanley reiterated an "overweight" rating and set a $150.00 price objective (down previously from $185.00) on shares of Neurocrine Biosciences in a research note on Friday, March 7th. Finally, Barclays increased their target price on shares of Neurocrine Biosciences from $160.00 to $165.00 and gave the company an "overweight" rating in a research report on Monday, December 23rd. Five investment 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. Based on data from MarketBeat.com, Neurocrine Biosciences has a consensus rating of "Moderate Buy" and an average price target of $165.38.

Insider Buying and Selling at Neurocrine Biosciences

In other news, insider Ingrid Delaet sold 272 shares of the firm's stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $138.10, for a total transaction of $37,563.20. Following the sale, the insider now owns 2,507 shares of the company's stock, valued at $346,216.70. This trade represents a 9.79 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kevin Charles Gorman sold 146,105 shares of the business's stock in a transaction on Monday, January 27th. The shares were sold at an average price of $149.46, for a total transaction of $21,836,853.30. Following the completion of the transaction, the director now owns 514,596 shares of the company's stock, valued at approximately $76,911,518.16. This represents a 22.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 233,178 shares of company stock worth $33,906,594. Insiders own 4.30% of the company's stock.

Neurocrine Biosciences Price Performance

NASDAQ:NBIX traded down $0.84 during midday trading on Friday, hitting $113.16. The company's stock had a trading volume of 800,768 shares, compared to its average volume of 981,987. Neurocrine Biosciences, Inc. has a fifty-two week low of $105.18 and a fifty-two week high of $157.98. The firm's 50 day moving average is $124.17 and its 200-day moving average is $124.96. The firm has a market cap of $11.28 billion, a P/E ratio of 34.40, a P/E/G ratio of 0.77 and a beta of 0.35.

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

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

Neurocrine Biosciences 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.