Swiss National Bank Sells 13,400 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Swiss National Bank decreased its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 4.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 285,300 shares of the company's stock after selling 13,400 shares during the period. Swiss National Bank owned 0.28% of Neurocrine Biosciences worth $38,943,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NBIX. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Neurocrine Biosciences by 270.0% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 63,582 shares of the company's stock valued at $8,679,000 after buying an additional 46,396 shares in the last quarter. Avantax Advisory Services Inc. increased its holdings in shares of Neurocrine Biosciences by 11.4% in the fourth quarter. Avantax Advisory Services Inc. now owns 2,895 shares of the company's stock valued at $395,000 after buying an additional 297 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Neurocrine Biosciences by 107.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 466 shares of the company's stock valued at $64,000 after buying an additional 241 shares in the last quarter. Sequoia Financial Advisors LLC bought a new position in shares of Neurocrine Biosciences in the fourth quarter valued at $243,000. Finally, HighTower Advisors LLC increased its holdings in shares of Neurocrine Biosciences by 10.6% in the fourth quarter. HighTower Advisors LLC now owns 10,600 shares of the company's stock valued at $1,447,000 after buying an additional 1,013 shares in the last quarter. Institutional investors own 92.59% of the company's stock.

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Insider Activity at Neurocrine Biosciences

In related news, Director Kevin Charles Gorman sold 5,844 shares of the company's stock in a transaction on 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 in the company, valued at approximately $60,867,604.42. This represents a 1.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Julie Cooke sold 1,551 shares of the company's stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $116.78, for a total value of $181,125.78. Following the completion of the transaction, the insider now 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 233,178 shares of company stock worth $33,906,594. 4.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Canaccord Genuity Group dropped their price target on Neurocrine Biosciences from $172.00 to $163.00 and set a "buy" rating on the stock in a report on Friday, February 7th. Guggenheim decreased their target price on Neurocrine Biosciences from $165.00 to $163.00 and set a "buy" rating for the company in a research report on Monday, February 10th. Morgan Stanley reissued an "overweight" rating and issued a $150.00 price objective (down from $185.00) on shares of Neurocrine Biosciences in a research note on Friday, March 7th. Wedbush lowered their target price on Neurocrine Biosciences from $157.00 to $147.00 and set an "outperform" rating on the stock in a research note on Friday, February 7th. Finally, UBS Group lifted their target price on Neurocrine Biosciences from $162.00 to $176.00 and gave the company a "buy" rating in a research note on Thursday, January 30th. Five analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $165.24.

Neurocrine Biosciences Stock Down 0.2 %

Shares of NBIX stock traded down $0.24 during trading hours on Thursday, reaching $110.07. 870,132 shares of the company's stock were exchanged, compared to its average volume of 957,818. Neurocrine Biosciences, Inc. has a fifty-two week low of $105.18 and a fifty-two week high of $157.98. The stock has a market capitalization of $10.97 billion, a P/E ratio of 33.46, a P/E/G ratio of 0.77 and a beta of 0.35. The business has a fifty day moving average price of $128.06 and a 200-day moving average price of $125.36.

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 return on equity of 13.38% and a net margin of 14.49%. As a group, research analysts expect that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

Neurocrine Biosciences announced that its Board of Directors has authorized a share repurchase plan on Friday, February 21st that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 4.2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board of directors believes its stock is 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.