EFG Asset Management North America Corp. Sells 14,190 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

EFG Asset Management North America Corp. reduced its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 51.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 13,321 shares of the company’s stock after selling 14,190 shares during the period. EFG Asset Management North America Corp.’s holdings in Neurocrine Biosciences were worth $1,819,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System increased its position in shares of Neurocrine Biosciences by 0.4% during the fourth quarter. Louisiana State Employees Retirement System now owns 28,100 shares of the company’s stock worth $3,836,000 after acquiring an additional 100 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Neurocrine Biosciences by 0.5% during the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 22,361 shares of the company’s stock worth $3,052,000 after purchasing an additional 103 shares during the last quarter. Metis Global Partners LLC raised its stake in Neurocrine Biosciences by 4.3% in the 4th quarter. Metis Global Partners LLC now owns 2,548 shares of the company’s stock valued at $348,000 after acquiring an additional 104 shares during the period. Commerce Bank raised its holdings in Neurocrine Biosciences by 2.6% in the 3rd quarter. Commerce Bank now owns 4,199 shares of the company’s stock valued at $484,000 after acquiring an additional 108 shares during the period. Finally, Brooklyn Investment Group grew its holdings in 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 buying an additional 115 shares in the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NBIX has been the topic of a number of analyst reports. StockNews.com lowered shares of Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 20th. Canaccord Genuity Group lowered their price target on shares of Neurocrine Biosciences from $172.00 to $163.00 and set a “buy” rating for the company in a report on Friday, February 7th. Royal Bank of Canada reduced their target price on shares of Neurocrine Biosciences from $154.00 to $148.00 and set a “sector perform” rating on the stock in a report on Friday, February 7th. Morgan Stanley reissued an “overweight” rating and issued a $150.00 price target (down previously from $185.00) on shares of Neurocrine Biosciences in a research note on Friday, March 7th. Finally, Guggenheim lowered their target price on shares of Neurocrine Biosciences from $165.00 to $163.00 and set a “buy” rating for the company in a research note on Monday, February 10th. Five equities research 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’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $165.24.

Insider Buying and Selling

In related news, insider Julie Cooke sold 1,551 shares of the business’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $116.78, for a total transaction of $181,125.78. Following the sale, the insider now directly owns 19,544 shares in the company, valued at approximately $2,282,348.32. The trade was a 7.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kevin Charles Gorman sold 146,105 shares of the stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $149.46, for a total transaction of $21,836,853.30. Following the completion of the sale, the director now directly owns 514,596 shares in the company, valued at approximately $76,911,518.16. The trade was a 22.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 233,178 shares of company stock worth $33,906,594. Insiders own 4.30% of the company’s stock.

Neurocrine Biosciences Trading Up 0.5 %

Shares of Neurocrine Biosciences stock opened at $116.18 on Wednesday. The company has a market capitalization of $11.58 billion, a P/E ratio of 35.31, a price-to-earnings-growth ratio of 0.77 and a beta of 0.35. The stock has a fifty day simple moving average of $125.89 and a 200 day simple moving average of $125.10. Neurocrine Biosciences, Inc. has a 12-month low of $105.18 and a 12-month high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its earnings results on Thursday, February 6th. The company reported $1.00 earnings per share 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%. On average, analysts predict that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

Neurocrine Biosciences announced that its Board of Directors has initiated a share buyback program on Friday, February 21st that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 4.2% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is 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.