Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Shares Sold by Shelton Capital Management

Shelton Capital Management lowered its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 4.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,811 shares of the company’s stock after selling 167 shares during the period. Shelton Capital Management’s holdings in Neurocrine Biosciences were worth $520,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of NBIX. Quantinno Capital Management LP raised its position in shares of Neurocrine Biosciences by 25.0% in the third quarter. Quantinno Capital Management LP now owns 2,239 shares of the company’s stock worth $258,000 after acquiring an additional 448 shares during the period. EP Wealth Advisors LLC acquired a new position in shares of Neurocrine Biosciences during the 3rd quarter worth about $483,000. iA Global Asset Management Inc. acquired a new position in shares of Neurocrine Biosciences during the 3rd quarter worth about $306,000. National Bank of Canada FI raised its position in shares of Neurocrine Biosciences by 83.3% during the 3rd quarter. National Bank of Canada FI now owns 1,351 shares of the company’s stock worth $156,000 after purchasing an additional 614 shares during the last quarter. Finally, XTX Topco Ltd raised its position in shares of Neurocrine Biosciences by 159.2% during the 3rd quarter. XTX Topco Ltd now owns 8,665 shares of the company’s stock worth $998,000 after purchasing an additional 5,322 shares during the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

Neurocrine Biosciences Trading Up 8.8 %

NBIX stock opened at $95.28 on Thursday. The company has a market capitalization of $9.50 billion, a PE ratio of 28.96, a P/E/G ratio of 0.77 and a beta of 0.33. Neurocrine Biosciences, Inc. has a 12-month low of $84.23 and a 12-month high of $157.98. The business’s fifty day moving average price is $114.09 and its 200 day moving average price is $123.36.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings data 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%. Research analysts predict that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

Neurocrine Biosciences declared that its board has initiated a stock buyback program on Friday, February 21st that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 4.2% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In other news, insider Julie Cooke sold 1,551 shares of the business’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $116.78, for a total value of $181,125.78. Following the completion of the sale, the insider now directly owns 19,544 shares of the company’s stock, 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 Securities & Exchange Commission, which is accessible through this link. Also, Director Kevin Charles Gorman sold 2,707 shares of the company’s stock in a transaction that occurred 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 sale, the director now directly owns 517,030 shares of the company’s stock, valued at approximately $79,064,227.60. This represents a 0.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 232,906 shares of company stock valued at $33,869,030 in the last three months. 4.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on NBIX shares. HC Wainwright restated a “buy” rating and set a $185.00 price target on shares of Neurocrine Biosciences in a research report on Friday, February 21st. Bank of America reduced their price target on shares of Neurocrine Biosciences from $184.00 to $179.00 and set a “buy” rating for the company in a research report on Friday, February 7th. Barclays upped their price objective on shares of Neurocrine Biosciences from $160.00 to $165.00 and gave the company an “overweight” rating in a research note on Monday, December 23rd. William Blair reaffirmed an “outperform” rating on shares of Neurocrine Biosciences in a research note on Friday, February 7th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Neurocrine Biosciences in a research note on Tuesday, February 11th. They set a “hold” rating and a $138.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $163.52.

About Neurocrine Biosciences

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.