Jacobs Levy Equity Management Inc. Sells 456,979 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Jacobs Levy Equity Management Inc. lowered its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 87.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,189 shares of the company’s stock after selling 456,979 shares during the period. Jacobs Levy Equity Management Inc. owned approximately 0.07% of Neurocrine Biosciences worth $9,171,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. OneDigital Investment Advisors LLC boosted its stake in Neurocrine Biosciences by 2.1% during the fourth quarter. OneDigital Investment Advisors LLC now owns 4,215 shares of the company’s stock worth $575,000 after acquiring an additional 87 shares in the last quarter. HighPoint Advisor Group LLC boosted its stake in Neurocrine Biosciences by 4.1% during the fourth quarter. HighPoint Advisor Group LLC now owns 2,446 shares of the company’s stock worth $334,000 after acquiring an additional 96 shares in the last quarter. Huntington National Bank boosted its stake in Neurocrine Biosciences by 73.5% during the fourth quarter. Huntington National Bank now owns 229 shares of the company’s stock worth $31,000 after acquiring an additional 97 shares in the last quarter. Louisiana State Employees Retirement System raised its holdings in Neurocrine Biosciences by 0.4% in the fourth quarter. Louisiana State Employees Retirement System now owns 28,100 shares of the company’s stock worth $3,836,000 after buying an additional 100 shares during the last quarter. Finally, Utah Retirement Systems raised its holdings in Neurocrine Biosciences by 0.6% in the fourth quarter. Utah Retirement Systems now owns 16,583 shares of the company’s stock worth $2,264,000 after buying an additional 100 shares during the last quarter. Institutional investors own 92.59% of the company’s stock.

Neurocrine Biosciences Trading Down 3.0%

Shares of NBIX stock opened at $116.87 on Wednesday. The stock has a market cap of $11.57 billion, a P/E ratio of 35.52, a P/E/G ratio of 0.77 and a beta of 0.26. Neurocrine Biosciences, Inc. has a 12 month low of $84.23 and a 12 month high of $157.98. The company has a 50 day simple moving average of $106.44 and a two-hundred day simple moving average of $121.89.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings data on Monday, May 5th. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.62). The firm had revenue of $572.60 million for 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% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.20 earnings per share. As a group, equities analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.

Neurocrine Biosciences declared that its Board of Directors has authorized 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 buy up to 4.2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Insider Activity

In other news, insider Julie Cooke sold 1,551 shares of the firm’s stock in a transaction on Thursday, February 13th. The shares were 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 $2,282,348.32. This trade represents a 7.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Matt Abernethy sold 2,558 shares of the company’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $116.86, for a total transaction of $298,927.88. Following the transaction, the chief financial officer now owns 34,775 shares of the company’s stock, valued at approximately $4,063,806.50. This represents a 6.85% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 39,953 shares of company stock worth $4,467,990 in the last three months. Company insiders own 4.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on NBIX. Guggenheim lifted their target price 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. Deutsche Bank Aktiengesellschaft began coverage on shares of Neurocrine Biosciences in a report on Tuesday, February 11th. They issued a “hold” rating and a $138.00 target price for the company. Evercore ISI decreased their target price on shares of Neurocrine Biosciences from $190.00 to $185.00 and set an “outperform” rating for the company in a report on Thursday, April 24th. Piper Sandler reaffirmed an “overweight” rating and issued a $154.00 target price (down from $160.00) on shares of Neurocrine Biosciences in a report on Tuesday, May 6th. Finally, Needham & Company LLC lifted their target price on shares of Neurocrine Biosciences from $138.00 to $139.00 and gave the stock a “buy” rating in a report on Tuesday, May 6th. Three equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat, Neurocrine Biosciences currently has an average rating of “Moderate Buy” and an average target price of $162.00.

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.