Walleye Capital LLC Sells 77,987 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Walleye Capital LLC cut its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 89.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,959 shares of the company's stock after selling 77,987 shares during the period. Walleye Capital LLC's holdings in Neurocrine Biosciences were worth $1,223,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of NBIX. Belpointe Asset Management LLC acquired a new stake in Neurocrine Biosciences during the 4th quarter worth about $1,125,000. Mariner LLC increased its position in shares of Neurocrine Biosciences by 23.0% in the fourth quarter. Mariner LLC now owns 20,639 shares of the company's stock worth $2,817,000 after acquiring an additional 3,857 shares in the last quarter. Optimize Financial Inc acquired a new stake in shares of Neurocrine Biosciences during the fourth quarter valued at approximately $250,000. Townsquare Capital LLC purchased a new stake in shares of Neurocrine Biosciences in the 4th quarter valued at approximately $290,000. Finally, Philadelphia Trust Co. lifted its position in shares of Neurocrine Biosciences by 441.4% in the 4th quarter. Philadelphia Trust Co. now owns 36,410 shares of the company's stock valued at $4,970,000 after acquiring an additional 29,685 shares in the last quarter. 92.59% of the stock is owned by institutional investors and hedge funds.

Neurocrine Biosciences Stock Up 1.5 %

Shares of NASDAQ:NBIX traded up $1.54 during trading on Wednesday, reaching $103.28. The stock had a trading volume of 1,935,265 shares, compared to its average volume of 1,065,184. The stock has a fifty day simple moving average of $107.72 and a two-hundred day simple moving average of $122.29. Neurocrine Biosciences, Inc. has a 52 week low of $84.23 and a 52 week high of $157.98. The firm has a market capitalization of $10.22 billion, a price-to-earnings ratio of 31.39, a P/E/G ratio of 0.77 and a beta of 0.33.

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

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

Analysts Set New Price Targets

NBIX has been the subject of a number of research analyst reports. Wedbush reduced their target price on Neurocrine Biosciences from $157.00 to $147.00 and set an "outperform" rating for the company in a report on Friday, February 7th. Guggenheim reduced their price objective on Neurocrine Biosciences from $165.00 to $163.00 and set a "buy" rating for the company in a research note on Monday, February 10th. William Blair reiterated an "outperform" rating on shares of Neurocrine Biosciences in a report on Friday, February 7th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Neurocrine Biosciences in a research report on Tuesday, February 11th. They issued a "hold" rating and a $138.00 price target for the company. Finally, HC Wainwright lowered their price objective on shares of Neurocrine Biosciences from $185.00 to $168.00 and set a "buy" rating on the stock in a research report on Tuesday. Three research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Neurocrine Biosciences has a consensus rating of "Moderate Buy" and an average target price of $161.09.

Insider Activity at Neurocrine Biosciences

In other news, Director Kevin Charles Gorman sold 146,105 shares of the company's stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $149.46, for a total value of $21,836,853.30. Following the sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Julie Cooke sold 1,740 shares of the company's stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $152.89, for a total transaction of $266,028.60. Following the sale, the insider now directly owns 18,202 shares in the company, valued at $2,782,903.78. This represents a 8.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 167,906 shares of company stock worth $24,671,530 over the last three months. Company insiders own 4.30% of the company's stock.

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.