Trexquant Investment LP Has $7.67 Million Stock Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Trexquant Investment LP decreased its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 43.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 56,186 shares of the company's stock after selling 43,163 shares during the quarter. Trexquant Investment LP owned about 0.06% of Neurocrine Biosciences worth $7,669,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new position in Neurocrine Biosciences in the fourth quarter worth $115,193,000. Wellington Management Group LLP increased its holdings in shares of Neurocrine Biosciences by 102.9% in the fourth quarter. Wellington Management Group LLP now owns 1,457,425 shares of the company's stock valued at $198,939,000 after purchasing an additional 739,199 shares in the last quarter. Thrivent Financial for Lutherans raised its position in 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 purchasing an additional 711,970 shares during the last quarter. State Street Corp raised its position in Neurocrine Biosciences by 11.7% in the 3rd quarter. State Street Corp now owns 5,148,293 shares of the company's stock worth $593,186,000 after purchasing an additional 539,936 shares during the last quarter. Finally, Jennison Associates LLC boosted its position in Neurocrine Biosciences by 145.1% in the 4th quarter. Jennison Associates LLC now owns 820,694 shares of the company's stock valued at $112,025,000 after buying an additional 485,894 shares during the last quarter. Institutional investors and hedge funds own 92.59% of the company's stock.

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Neurocrine Biosciences Price Performance

NASDAQ:NBIX traded up $7.74 on Wednesday, hitting $95.28. 2,731,230 shares of the company's stock were exchanged, compared to its average volume of 1,021,285. The firm has a 50-day moving average price of $114.09 and a 200-day moving average price of $123.36. Neurocrine Biosciences, Inc. has a 52 week low of $84.23 and a 52 week high of $157.98. The company has a market cap of $9.50 billion, a P/E ratio of 28.96, a price-to-earnings-growth ratio of 0.77 and a beta of 0.33.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The company reported $1.00 earnings per share (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%. On average, research analysts expect that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

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

Insider Buying and Selling at Neurocrine Biosciences

In other Neurocrine Biosciences news, insider Ingrid Delaet sold 623 shares of the firm's stock in a transaction 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 completion of the sale, the insider now owns 3,442 shares of the company's stock, valued at $513,856.18. This trade represents a 15.33 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kevin Charles Gorman sold 2,707 shares of the company's stock in a transaction on Friday, January 31st. The shares were sold at an average price of $152.92, for a total transaction of $413,954.44. Following the completion of the transaction, the director now owns 517,030 shares in the company, valued at approximately $79,064,227.60. This represents a 0.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 232,906 shares of company stock worth $33,869,030 over the last quarter. 4.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. StockNews.com downgraded Neurocrine Biosciences from a "strong-buy" rating to a "buy" rating in a research report on Thursday, March 20th. Piper Sandler reissued an "overweight" rating and set a $160.00 price objective on shares of Neurocrine Biosciences in a report on Monday, December 23rd. Canaccord Genuity Group reduced their target price on shares of Neurocrine Biosciences from $172.00 to $163.00 and set a "buy" rating on the stock in a research note on Friday, February 7th. Needham & Company LLC reissued a "hold" rating on shares of Neurocrine Biosciences in a research note on Friday, February 7th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $185.00 price objective on shares of Neurocrine Biosciences in a research note on Friday, February 21st. Five research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $163.52.

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.