Swiss National Bank Sells 13,400 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Swiss National Bank lowered its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 4.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 285,300 shares of the company’s stock after selling 13,400 shares during the period. Swiss National Bank owned about 0.28% of Neurocrine Biosciences worth $38,943,000 at the end of the most recent reporting period.

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

Insider Activity

In other Neurocrine Biosciences news, insider Ingrid Delaet sold 272 shares of the stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $138.10, for a total transaction of $37,563.20. Following the completion of the transaction, the insider now directly owns 2,507 shares of the company’s stock, valued at approximately $346,216.70. This represents a 9.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kevin Charles Gorman sold 2,707 shares of the stock in a transaction on Friday, January 31st. The shares were sold at an average price of $152.92, for a total value of $413,954.44. Following the transaction, the director now directly owns 517,030 shares of the company’s stock, valued at approximately $79,064,227.60. This trade represents a 0.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 234,269 shares of company stock valued at $34,053,879 over the last three months. Corporate insiders own 4.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on NBIX shares. Needham & Company LLC reiterated a “hold” rating on shares of Neurocrine Biosciences in a research report on Friday, February 7th. William Blair restated an “outperform” rating on shares of Neurocrine Biosciences in a research report on Friday, February 7th. Piper Sandler restated an “overweight” rating and set a $160.00 target price on shares of Neurocrine Biosciences in a research report on Monday, December 23rd. Morgan Stanley restated an “overweight” rating and set a $150.00 target price (down previously from $185.00) on shares of Neurocrine Biosciences in a research report on Friday, March 7th. Finally, Barclays upped their target price on Neurocrine Biosciences from $160.00 to $165.00 and gave the company an “overweight” rating in a research report on Monday, December 23rd. Five equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $165.24.

Neurocrine Biosciences Stock Up 1.6 %

Shares of Neurocrine Biosciences stock opened at $110.75 on Monday. The company has a market cap of $11.04 billion, a PE ratio of 33.66, a price-to-earnings-growth ratio of 0.77 and a beta of 0.35. Neurocrine Biosciences, Inc. has a 52 week low of $105.18 and a 52 week high of $157.98. The business has a 50 day moving average price of $129.69 and a 200-day moving average price of $125.71.

Neurocrine Biosciences (NASDAQ:NBIX) last released its 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, research analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

Neurocrine Biosciences declared that its Board of Directors has authorized a stock repurchase plan on Friday, February 21st that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to purchase up to 4.2% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.

Neurocrine Biosciences 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.