Tealwood Asset Management Inc. Sells 187 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Tealwood Asset Management Inc. lowered its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 1.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,724 shares of the company’s stock after selling 187 shares during the period. Tealwood Asset Management Inc.’s holdings in Neurocrine Biosciences were worth $1,297,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of NBIX. Blue Trust Inc. increased its position in Neurocrine Biosciences by 75.0% in the fourth quarter. Blue Trust Inc. now owns 609 shares of the company’s stock worth $83,000 after purchasing an additional 261 shares during the last quarter. Caprock Group LLC bought a new position in Neurocrine Biosciences during the fourth quarter valued at $236,000. abrdn plc increased its position in Neurocrine Biosciences by 14.8% during the fourth quarter. abrdn plc now owns 156,574 shares of the company’s stock valued at $21,372,000 after acquiring an additional 20,150 shares during the last quarter. Retirement Systems of Alabama increased its position in Neurocrine Biosciences by 0.4% during the fourth quarter. Retirement Systems of Alabama now owns 123,107 shares of the company’s stock valued at $16,804,000 after acquiring an additional 446 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in Neurocrine Biosciences by 21.8% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,358 shares of the company’s stock valued at $2,251,000 after acquiring an additional 2,925 shares during the last quarter. Institutional investors own 92.59% of the company’s stock.

Insider Transactions at Neurocrine Biosciences

In other Neurocrine Biosciences news, Director Kevin Charles Gorman sold 9,613 shares of Neurocrine Biosciences stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $120.38, for a total transaction of $1,157,212.94. Following the sale, the director now owns 514,596 shares of the company’s stock, valued at $61,947,066.48. The trade was a 1.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director William H. Rastetter sold 30,000 shares of the business’s stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $110.20, for a total transaction of $3,306,000.00. Following the transaction, the director now directly owns 37,491 shares in the company, valued at approximately $4,131,508.20. The trade was a 44.45% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 4.80% of the company’s stock.

Neurocrine Biosciences Stock Up 0.6%

Shares of Neurocrine Biosciences stock opened at $125.39 on Friday. 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 $12.41 billion, a P/E ratio of 38.11, a PEG ratio of 0.77 and a beta of 0.24. The company has a 50 day moving average price of $110.03 and a 200 day moving average price of $121.90.

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

Neurocrine Biosciences declared that its board has approved a share buyback plan on Friday, February 21st that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 4.2% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

NBIX has been the topic of a number of analyst reports. Wall Street Zen cut shares of Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 20th. Guggenheim upped their price target on shares of Neurocrine Biosciences from $155.00 to $165.00 and gave the stock a “buy” rating in a report on Tuesday, May 6th. Canaccord Genuity Group upped their price target on shares of Neurocrine Biosciences from $158.00 to $160.00 and gave the stock a “buy” rating in a report on Tuesday, May 6th. BMO Capital Markets upped their price target on shares of Neurocrine Biosciences from $96.00 to $115.00 and gave the stock a “market perform” rating in a report on Tuesday, May 6th. Finally, JPMorgan Chase & Co. upped their price target on shares of Neurocrine Biosciences from $183.00 to $184.00 and gave the stock an “overweight” rating in a report on Wednesday, March 26th. Three research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $162.00.

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.