D. E. Shaw & Co. Inc. Has $3.92 Million Stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

D. E. Shaw & Co. Inc. decreased its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 83.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 28,710 shares of the company’s stock after selling 140,744 shares during the quarter. D. E. Shaw & Co. Inc.’s holdings in Neurocrine Biosciences were worth $3,919,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Park Avenue Securities LLC raised its position in shares of Neurocrine Biosciences by 23.3% during the fourth quarter. Park Avenue Securities LLC now owns 7,080 shares of the company’s stock worth $966,000 after purchasing an additional 1,336 shares during the period. Avanza Fonder AB acquired a new stake in shares of Neurocrine Biosciences during the fourth quarter worth about $1,804,000. Merit Financial Group LLC acquired a new stake in shares of Neurocrine Biosciences during the fourth quarter worth about $520,000. Brooklyn Investment Group raised its position in shares of 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 during the period. Finally, HB Wealth Management LLC acquired a new stake in shares of Neurocrine Biosciences during the fourth quarter worth about $373,000. Institutional investors and hedge funds own 92.59% of the company’s stock.

Insider Activity

In other news, Director William H. Rastetter sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $110.20, for a total value of $3,306,000.00. Following the completion of the sale, the director now directly owns 37,491 shares of the company’s stock, valued at $4,131,508.20. This trade represents a 44.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 4.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on NBIX. Deutsche Bank Aktiengesellschaft began coverage on Neurocrine Biosciences in a research report on Tuesday, February 11th. They set a “hold” rating and a $138.00 price target on the stock. Guggenheim raised their price target on Neurocrine Biosciences from $155.00 to $165.00 and gave the stock a “buy” rating in a research report on Tuesday, May 6th. Royal Bank of Canada increased their price objective on Neurocrine Biosciences from $137.00 to $145.00 and gave the stock an “outperform” rating in a report on Tuesday, May 6th. Needham & Company LLC increased their price objective on Neurocrine Biosciences from $138.00 to $139.00 and gave the stock a “buy” rating in a report on Tuesday, May 6th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $150.00 price objective (down from $185.00) on shares of Neurocrine Biosciences in a report on Friday, March 7th. Three research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $162.00.

Neurocrine Biosciences Stock Up 0.6%

NBIX stock opened at $121.02 on Monday. The business has a 50 day moving average price of $107.02 and a two-hundred day moving average price of $121.92. The company has a market cap of $11.98 billion, a price-to-earnings ratio of 36.78, a P/E/G ratio of 0.77 and a beta of 0.26. Neurocrine Biosciences, Inc. has a twelve month low of $84.23 and a twelve month high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings results on Monday, May 5th. The company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.62). The company had revenue of $572.60 million during the quarter, compared to the consensus estimate of $587.06 million. Neurocrine Biosciences had a net margin of 14.49% and a return on equity of 13.38%. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.20 earnings per share. On average, equities research analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

Neurocrine Biosciences announced that its board 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 repurchase up to 4.2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

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.