Swiss National Bank Sells 13,400 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Swiss National Bank reduced its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 4.5% in the fourth quarter, Holdings Channel.com reports. The fund owned 285,300 shares of the company’s stock after selling 13,400 shares during the period. Swiss National Bank’s holdings in Neurocrine Biosciences were worth $38,943,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Golden State Wealth Management LLC bought a new position in shares of Neurocrine Biosciences in the fourth quarter worth $25,000. Brooklyn Investment Group boosted its holdings in shares of Neurocrine Biosciences by 99.1% in the fourth quarter. Brooklyn Investment Group now owns 231 shares of the company’s stock worth $32,000 after acquiring an additional 115 shares during the period. Lindbrook Capital LLC raised its position in shares of Neurocrine Biosciences by 53.5% in the fourth quarter. Lindbrook Capital LLC now owns 373 shares of the company’s stock worth $51,000 after buying an additional 130 shares in the last quarter. R Squared Ltd bought a new stake in Neurocrine Biosciences during the fourth quarter valued at $61,000. Finally, UMB Bank n.a. boosted its stake in Neurocrine Biosciences by 211.6% during the fourth quarter. UMB Bank n.a. now owns 455 shares of the company’s stock valued at $62,000 after buying an additional 309 shares during the period. 92.59% of the stock is owned by institutional investors.

Insider Activity at Neurocrine Biosciences

In other Neurocrine Biosciences news, CFO Matt Abernethy sold 2,558 shares of the company’s stock in a transaction that occurred 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 in the company, valued at approximately $4,063,806.50. This represents a 6.85 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ingrid Delaet sold 1,091 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $135.00, for a total value of $147,285.00. Following the transaction, the insider now owns 2,507 shares in the company, valued at $338,445. This trade represents a 30.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 234,269 shares of company stock worth $34,053,879 in the last 90 days. Company insiders own 4.30% of the company’s stock.

Neurocrine Biosciences Price Performance

Shares of NASDAQ:NBIX opened at $110.75 on Monday. Neurocrine Biosciences, Inc. has a 1 year low of $105.18 and a 1 year high of $157.98. The company has a market cap of $11.04 billion, a PE ratio of 33.66, a P/E/G ratio of 0.77 and a beta of 0.35. The stock’s 50-day moving average is $129.69 and its 200 day moving average is $125.71.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings results on Thursday, February 6th. The company reported $1.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.62 by ($0.62). Neurocrine Biosciences had a net margin of 14.49% and a return on equity of 13.38%. Analysts expect that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

Neurocrine Biosciences declared that its board has authorized a share repurchase program on Friday, February 21st that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to buy up to 4.2% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on NBIX shares. Piper Sandler reissued an “overweight” rating and set a $160.00 price objective on shares of Neurocrine Biosciences in a research note on Monday, December 23rd. Barclays lifted their price objective on Neurocrine Biosciences from $160.00 to $165.00 and gave the company an “overweight” rating in a research note on Monday, December 23rd. Needham & Company LLC reissued a “hold” rating on shares of Neurocrine Biosciences in a research note on Friday, February 7th. Royal Bank of Canada dropped their price objective on Neurocrine Biosciences from $154.00 to $148.00 and set a “sector perform” rating for the company in a research note on Friday, February 7th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Neurocrine Biosciences in a research note on Tuesday, February 11th. They set a “hold” rating and a $138.00 price target for the company. Five equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $165.24.

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.