Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Shares Sold by Ensign Peak Advisors Inc

Ensign Peak Advisors Inc decreased its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 0.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 173,694 shares of the company’s stock after selling 1,141 shares during the quarter. Ensign Peak Advisors Inc owned approximately 0.17% of Neurocrine Biosciences worth $23,709,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NBIX. Caprock Group LLC acquired a new position in shares of Neurocrine Biosciences in the 4th quarter valued at approximately $236,000. Charles Schwab Investment Management Inc. boosted its stake in Neurocrine Biosciences by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 762,557 shares of the company’s stock valued at $104,089,000 after acquiring an additional 15,266 shares during the last quarter. Oakworth Capital Inc. acquired a new position in Neurocrine Biosciences during the 4th quarter worth $379,000. Avantax Advisory Services Inc. grew its holdings in Neurocrine Biosciences by 11.4% during the 4th quarter. Avantax Advisory Services Inc. now owns 2,895 shares of the company’s stock worth $395,000 after acquiring an additional 297 shares in the last quarter. Finally, Synergy Asset Management LLC bought a new stake in shares of Neurocrine Biosciences in the 4th quarter worth about $996,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Neurocrine Biosciences Stock Down 1.5 %

NBIX stock opened at $115.71 on Friday. The company has a 50-day simple moving average of $106.23 and a 200 day simple moving average of $121.85. The company has a market capitalization of $11.45 billion, a P/E ratio of 35.17, a PEG ratio of 0.77 and a beta of 0.26. Neurocrine Biosciences, Inc. has a fifty-two week low of $84.23 and a fifty-two week high of $157.98.

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

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

Wall Street Analyst Weigh In

A number of research firms recently commented on NBIX. Morgan Stanley reiterated an “overweight” rating and issued a $150.00 price target (down from $185.00) on shares of Neurocrine Biosciences in a research note on Friday, March 7th. Royal Bank of Canada boosted their price target on Neurocrine Biosciences from $137.00 to $145.00 and gave the company an “outperform” rating in a report on Tuesday, May 6th. William Blair reissued an “outperform” rating on shares of Neurocrine Biosciences in a research report on Friday, February 7th. Piper Sandler reaffirmed an “overweight” rating and issued a $154.00 price objective (down previously from $160.00) on shares of Neurocrine Biosciences in a report on Tuesday, May 6th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Neurocrine Biosciences in a report on Tuesday, February 11th. They set a “hold” rating and a $138.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $162.00.

Insiders Place Their Bets

In related news, insider Julie Cooke sold 700 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $118.28, for a total transaction of $82,796.00. Following the completion of the sale, the insider now directly owns 18,831 shares of the company’s stock, valued at $2,227,330.68. This represents a 3.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William H. Rastetter sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $110.20, for a total transaction of $3,306,000.00. Following the sale, the director now owns 37,491 shares of the company’s stock, valued at $4,131,508.20. The trade was a 44.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 43,907 shares of company stock worth $4,935,982 over the last ninety days. Company insiders own 4.30% of the company’s stock.

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.