Schroder Investment Management Group Sells 84,539 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Schroder Investment Management Group decreased its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 40.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 126,735 shares of the company’s stock after selling 84,539 shares during the quarter. Schroder Investment Management Group owned approximately 0.13% of Neurocrine Biosciences worth $17,299,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Golden State Wealth Management LLC bought a new position in Neurocrine Biosciences in the fourth quarter valued at about $25,000. Brooklyn Investment Group boosted its stake in shares of Neurocrine Biosciences by 99.1% in the 4th quarter. Brooklyn Investment Group now owns 231 shares of the company’s stock valued at $32,000 after purchasing an additional 115 shares during the last quarter. Lindbrook Capital LLC boosted its stake in shares of Neurocrine Biosciences by 53.5% in the 4th quarter. Lindbrook Capital LLC now owns 373 shares of the company’s stock valued at $51,000 after purchasing an additional 130 shares during the last quarter. R Squared Ltd acquired a new stake in shares of Neurocrine Biosciences during the 4th quarter worth approximately $61,000. Finally, UMB Bank n.a. raised its stake in shares of Neurocrine Biosciences by 211.6% during the fourth quarter. UMB Bank n.a. now owns 455 shares of the company’s stock worth $62,000 after buying an additional 309 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on NBIX. Wedbush lowered their target price on shares of Neurocrine Biosciences from $157.00 to $147.00 and set an “outperform” rating for the company in a report on Friday, February 7th. Piper Sandler reiterated an “overweight” rating and issued a $160.00 price objective on shares of Neurocrine Biosciences in a report on Monday, December 23rd. Morgan Stanley reissued an “overweight” rating and issued a $150.00 target price (down previously from $185.00) on shares of Neurocrine Biosciences in a research note on Friday, March 7th. Needham & Company LLC restated a “hold” rating on shares of Neurocrine Biosciences in a research report on Friday, February 7th. Finally, Bank of America cut their price target on shares of Neurocrine Biosciences from $184.00 to $179.00 and set a “buy” rating on the stock in a research report on Friday, February 7th. Five investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Neurocrine Biosciences currently has an average rating of “Moderate Buy” and an average price target of $165.38.

Insider Buying and Selling at Neurocrine Biosciences

In related news, CFO Matt Abernethy sold 2,558 shares of the business’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $116.86, for a total transaction of $298,927.88. Following the transaction, the chief financial officer now directly owns 34,775 shares in the company, valued at approximately $4,063,806.50. The trade was a 6.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Julie Cooke sold 1,740 shares of Neurocrine Biosciences stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $152.89, for a total value of $266,028.60. Following the transaction, the insider now owns 18,202 shares of the company’s stock, valued at $2,782,903.78. The trade was a 8.73 % decrease in their position. 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 ninety days. 4.30% of the stock is currently owned by corporate insiders.

Neurocrine Biosciences Price Performance

NBIX stock opened at $108.31 on Thursday. The stock has a market capitalization of $10.80 billion, a P/E ratio of 32.92, a P/E/G ratio of 0.77 and a beta of 0.35. Neurocrine Biosciences, Inc. has a fifty-two week low of $105.18 and a fifty-two week high of $157.98. The business has a 50-day moving average of $121.97 and a 200-day moving average of $124.66.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings data on Thursday, February 6th. The company reported $1.00 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%. Equities analysts expect that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

Neurocrine Biosciences declared that its board has approved a share buyback program on Friday, February 21st that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to purchase up to 4.2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

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.