Wells Fargo & Company MN Has $33.66 Million Holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Wells Fargo & Company MN lessened its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 5.3% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 246,579 shares of the company's stock after selling 13,836 shares during the quarter. Wells Fargo & Company MN owned approximately 0.24% of Neurocrine Biosciences worth $33,658,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Caprock Group LLC bought a new stake in shares of Neurocrine Biosciences in the 4th quarter valued at about $236,000. Charles Schwab Investment Management Inc. raised its stake in shares of Neurocrine Biosciences by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 762,557 shares of the company's stock valued at $104,089,000 after buying an additional 15,266 shares during the last quarter. Tri Ri Asset Management Corp acquired a new position in Neurocrine Biosciences in the third quarter valued at approximately $3,236,000. Oakworth Capital Inc. acquired a new stake in Neurocrine Biosciences during the fourth quarter valued at $379,000. Finally, Synergy Asset Management LLC acquired a new position in Neurocrine Biosciences in the 4th quarter worth about $996,000. 92.59% of the stock is currently owned by institutional investors.

Neurocrine Biosciences Price Performance

NBIX stock traded up $0.73 on Tuesday, hitting $95.62. 930,757 shares of the company were exchanged, compared to its average volume of 1,033,228. Neurocrine Biosciences, Inc. has a twelve month low of $84.23 and a twelve month high of $157.98. The business's fifty day moving average is $110.55 and its two-hundred day moving average is $122.92. The stock has a market capitalization of $9.53 billion, a price-to-earnings ratio of 29.06, a price-to-earnings-growth ratio of 0.77 and a beta of 0.33.

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Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last posted its earnings results 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 net margin of 14.49% and a return on equity of 13.38%. Equities research analysts expect that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.

Neurocrine Biosciences announced 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 purchase 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 stock is undervalued.

Analyst Ratings Changes

NBIX has been the topic of a number of research reports. UBS Group decreased their target price on shares of Neurocrine Biosciences from $154.00 to $137.00 and set a "buy" rating on the stock in a research note on Friday, April 4th. HC Wainwright reiterated a "buy" rating and issued a $185.00 price target on shares of Neurocrine Biosciences in a research note on Friday, February 21st. StockNews.com downgraded Neurocrine Biosciences from a "strong-buy" rating to a "buy" rating in a research note on Thursday, March 20th. Wedbush decreased their target price on shares of Neurocrine Biosciences from $157.00 to $147.00 and set an "outperform" rating for the company in a research note on Friday, February 7th. Finally, Piper Sandler restated an "overweight" rating and issued a $160.00 price target on shares of Neurocrine Biosciences in a research report on Monday, December 23rd. Three investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $161.86.

Insider Transactions at Neurocrine Biosciences

In related 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 transaction of $681,936.36. Following the transaction, the director now directly owns 521,618 shares of the company's stock, valued at $60,867,604.42. The trade was a 1.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Kyle Gano sold 65,000 shares of the firm's stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $141.50, for a total transaction of $9,197,500.00. Following the completion of the transaction, the chief executive officer now directly owns 135,392 shares of the company's stock, valued at $19,157,968. This represents a 32.44 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 232,906 shares of company stock worth $33,869,030. 4.30% of the stock is currently owned by corporate insiders.

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.