Amalgamated Bank Sells 916 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Amalgamated Bank cut its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 1.8% in the fourth quarter, HoldingsChannel reports. The firm owned 49,614 shares of the company’s stock after selling 916 shares during the period. Amalgamated Bank’s holdings in Neurocrine Biosciences were worth $6,772,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Creative Planning raised its holdings in shares of Neurocrine Biosciences by 12.3% in the third quarter. Creative Planning now owns 12,999 shares of the company’s stock valued at $1,498,000 after acquiring an additional 1,426 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of Neurocrine Biosciences by 171.9% in the 3rd quarter. Blue Trust Inc. now owns 348 shares of the company’s stock valued at $40,000 after purchasing an additional 220 shares in the last quarter. Raymond James & Associates lifted its position in shares of Neurocrine Biosciences by 4.3% in the 3rd quarter. Raymond James & Associates now owns 62,446 shares of the company’s stock worth $7,195,000 after purchasing an additional 2,552 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Neurocrine Biosciences by 250.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,433 shares of the company’s stock valued at $1,546,000 after purchasing an additional 9,601 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its stake in shares of Neurocrine Biosciences by 2.1% during the third quarter. DekaBank Deutsche Girozentrale now owns 115,973 shares of the company’s stock valued at $13,232,000 after purchasing an additional 2,387 shares in the last quarter. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Kyle Gano sold 65,000 shares of Neurocrine Biosciences stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $141.50, for a total value of $9,197,500.00. Following the completion of the sale, the chief executive officer now owns 135,392 shares in the company, valued at approximately $19,157,968. This trade represents a 32.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ingrid Delaet sold 1,091 shares of Neurocrine Biosciences stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $135.00, for a total value of $147,285.00. Following the completion of the transaction, the insider now directly owns 2,507 shares of the company’s stock, valued at approximately $338,445. This represents a 30.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 236,600 shares of company stock valued at $34,348,261. Company insiders own 4.30% of the company’s stock.

Analyst Upgrades and Downgrades

NBIX has been the subject of a number of analyst reports. StockNews.com lowered Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 18th. Bank of America dropped their price objective on Neurocrine Biosciences from $184.00 to $179.00 and set a “buy” rating on the stock in a research report on Friday, February 7th. Piper Sandler reiterated an “overweight” rating and issued a $160.00 target price on shares of Neurocrine Biosciences in a report on Monday, December 23rd. Wedbush decreased their price target on shares of Neurocrine Biosciences from $157.00 to $147.00 and set an “outperform” rating for the company in a research report on Friday, February 7th. Finally, Guggenheim cut their price objective on shares of Neurocrine Biosciences from $165.00 to $163.00 and set a “buy” rating on the stock in a research report on Monday, February 10th. Five investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Neurocrine Biosciences has a consensus rating of “Moderate Buy” and a consensus target price of $166.90.

Neurocrine Biosciences Trading Up 1.5 %

Shares of NASDAQ:NBIX opened at $117.59 on Thursday. Neurocrine Biosciences, Inc. has a twelve month low of $110.95 and a twelve month high of $157.98. The company has a market cap of $11.72 billion, a PE ratio of 35.74, a price-to-earnings-growth ratio of 0.77 and a beta of 0.33. The company’s 50 day moving average is $135.94 and its 200 day moving average is $128.89.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings data 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%. Equities research analysts predict that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

Neurocrine Biosciences declared that its Board of Directors has authorized a share repurchase plan on Friday, February 21st that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to buy 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.

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.