Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Shares Sold by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. reduced its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 30.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,160 shares of the company’s stock after selling 3,638 shares during the period. Daiwa Securities Group Inc.’s holdings in Neurocrine Biosciences were worth $1,114,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Caprock Group LLC acquired a new stake in shares of Neurocrine Biosciences during the 4th quarter worth about $236,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Neurocrine Biosciences by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 762,557 shares of the company’s stock worth $104,089,000 after acquiring an additional 15,266 shares during the period. Swiss National Bank lifted its holdings in shares of Neurocrine Biosciences by 1.4% during the 3rd quarter. Swiss National Bank now owns 298,700 shares of the company’s stock worth $34,416,000 after acquiring an additional 4,100 shares during the period. Tri Ri Asset Management Corp purchased a new position in shares of Neurocrine Biosciences during the 3rd quarter worth about $3,236,000. Finally, KBC Group NV lifted its holdings in shares of Neurocrine Biosciences by 78.3% during the 3rd quarter. KBC Group NV now owns 18,972 shares of the company’s stock worth $2,186,000 after acquiring an additional 8,332 shares during the period. 92.59% of the stock is owned by institutional investors and hedge funds.

Neurocrine Biosciences Trading Up 1.6 %

NBIX stock opened at $110.75 on Friday. Neurocrine Biosciences, Inc. has a twelve month low of $105.18 and a twelve month high of $157.98. The company has a market capitalization of $11.04 billion, a P/E ratio of 33.66, a PEG ratio of 0.77 and a beta of 0.35. The firm has a 50 day simple moving average of $129.69 and a 200-day simple moving average of $125.69.

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

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

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Barclays increased their price objective on shares of Neurocrine Biosciences from $160.00 to $165.00 and gave the stock an “overweight” rating in a report on Monday, December 23rd. StockNews.com upgraded shares of Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a report on Wednesday. Bank of America cut their price target on shares of Neurocrine Biosciences from $184.00 to $179.00 and set a “buy” rating on the stock in a report on Friday, February 7th. Wedbush cut their price target on shares of Neurocrine Biosciences from $157.00 to $147.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Neurocrine Biosciences in a report on Tuesday, February 11th. They issued a “hold” rating and a $138.00 price target on the stock. Five research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $165.24.

Insider Transactions at Neurocrine Biosciences

In other Neurocrine Biosciences news, CFO Matt Abernethy sold 1,283 shares of Neurocrine Biosciences stock in a transaction on Friday, January 31st. The shares were sold at an average price of $152.87, for a total value of $196,132.21. Following the completion of the transaction, the chief financial officer now owns 32,681 shares of the company’s stock, valued at $4,995,944.47. The trade was a 3.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Kevin Charles Gorman sold 146,105 shares of Neurocrine Biosciences stock in a transaction on 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 transaction, the director now directly owns 514,596 shares of the company’s stock, valued at approximately $76,911,518.16. This represents a 22.11 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 234,269 shares of company stock valued at $34,053,879. 4.30% of the stock is currently owned by corporate insiders.

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.