Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Stock Position Lessened by Sterling Capital Management LLC

Sterling Capital Management LLC trimmed its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 11.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,612 shares of the company’s stock after selling 211 shares during the quarter. Sterling Capital Management LLC’s holdings in Neurocrine Biosciences were worth $220,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Golden State Wealth Management LLC acquired a new position in Neurocrine Biosciences during the 4th quarter valued at about $25,000. Huntington National Bank increased its stake in shares of Neurocrine Biosciences by 73.5% during the fourth quarter. Huntington National Bank now owns 229 shares of the company’s stock valued at $31,000 after acquiring an additional 97 shares during the period. Brooklyn Investment Group raised its holdings in Neurocrine Biosciences by 99.1% during the fourth quarter. Brooklyn Investment Group now owns 231 shares of the company’s stock worth $32,000 after purchasing an additional 115 shares in the last quarter. Lindbrook Capital LLC lifted its position in Neurocrine Biosciences by 53.5% in the fourth quarter. Lindbrook Capital LLC now owns 373 shares of the company’s stock worth $51,000 after purchasing an additional 130 shares during the period. Finally, R Squared Ltd bought a new position in Neurocrine Biosciences during the 4th quarter valued at $61,000. 92.59% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Neurocrine Biosciences news, Director Kevin Charles Gorman sold 5,844 shares of the business’s stock in a transaction dated 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 sale, the director now 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Julie Cooke sold 1,551 shares of the stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $116.78, for a total value of $181,125.78. Following the transaction, the insider now directly owns 19,544 shares in the company, valued at approximately $2,282,348.32. This represents a 7.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 167,906 shares of company stock valued at $24,671,530 over the last ninety days. Corporate insiders own 4.30% of the company’s stock.

Neurocrine Biosciences Trading Up 1.3 %

NBIX opened at $101.38 on Monday. The stock has a fifty day moving average price of $108.35 and a 200 day moving average price of $122.53. Neurocrine Biosciences, Inc. has a 1 year low of $84.23 and a 1 year high of $157.98. The stock has a market cap of $10.03 billion, a price-to-earnings ratio of 30.81, a PEG ratio of 0.77 and a beta of 0.33.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly 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 net margin of 14.49% and a return on equity of 13.38%. As a group, sell-side analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

Neurocrine Biosciences announced that its board has initiated a stock buyback program on Friday, February 21st that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to repurchase up to 4.2% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

NBIX has been the subject of several research analyst reports. Wedbush cut their price objective 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 target price on shares of Neurocrine Biosciences from $165.00 to $163.00 and set a “buy” rating for the company in a report on Monday, February 10th. Bank of America cut their price objective on Neurocrine Biosciences from $184.00 to $179.00 and set a “buy” rating for the company in a research report on Friday, February 7th. JPMorgan Chase & Co. lifted their target price on Neurocrine Biosciences from $183.00 to $184.00 and gave the stock an “overweight” rating in a report on Wednesday, March 26th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $185.00 target price on shares of Neurocrine Biosciences in a report on Friday, February 21st. Three investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $161.86.

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.