Schroder Investment Management Group Has $17.30 Million Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Schroder Investment Management Group cut its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 40.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 126,735 shares of the company’s stock after selling 84,539 shares during the quarter. Schroder Investment Management Group’s holdings in Neurocrine Biosciences were worth $17,299,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Allstate Corp acquired a new position in shares of Neurocrine Biosciences during the fourth quarter worth $397,000. DnB Asset Management AS raised its position in Neurocrine Biosciences by 3.1% during the 4th quarter. DnB Asset Management AS now owns 118,227 shares of the company’s stock worth $16,138,000 after purchasing an additional 3,500 shares during the last quarter. denkapparat Operations GmbH acquired a new position in Neurocrine Biosciences during the 4th quarter worth about $285,000. New Age Alpha Advisors LLC bought a new stake in shares of Neurocrine Biosciences in the 4th quarter valued at about $3,053,000. Finally, Norges Bank acquired a new stake in shares of Neurocrine Biosciences in the fourth quarter valued at about $44,403,000. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Neurocrine Biosciences in a research note on Friday, February 7th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Neurocrine Biosciences in a research report on Tuesday, February 11th. They issued a “hold” rating and a $138.00 price target on the stock. Morgan Stanley reiterated an “overweight” rating and set a $150.00 price objective (down from $185.00) on shares of Neurocrine Biosciences in a research report on Friday, March 7th. Piper Sandler restated an “overweight” rating and issued a $160.00 target price on shares of Neurocrine Biosciences in a report on Monday, December 23rd. Finally, JPMorgan Chase & Co. increased their price target on Neurocrine Biosciences from $183.00 to $184.00 and gave the stock an “overweight” rating in a report on Wednesday, March 26th. Five research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $165.38.

Neurocrine Biosciences Trading Up 1.2 %

Neurocrine Biosciences stock opened at $108.31 on Thursday. The firm’s fifty day moving average price is $121.97 and its two-hundred day moving average price is $124.66. The firm has a market capitalization of $10.80 billion, a price-to-earnings ratio of 32.92, a price-to-earnings-growth ratio of 0.77 and a beta of 0.35. Neurocrine Biosciences, Inc. has a 1-year low of $105.18 and a 1-year high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings results on Thursday, February 6th. The company reported $1.00 earnings per share 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%. On average, research analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

Neurocrine Biosciences declared that its board has approved a stock buyback program on Friday, February 21st that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to purchase up to 4.2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In other Neurocrine Biosciences news, CFO Matt Abernethy sold 2,558 shares of the stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $116.86, for a total value of $298,927.88. Following the sale, the chief financial officer now directly owns 34,775 shares in the company, valued at $4,063,806.50. This represents a 6.85 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Ingrid Delaet sold 623 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $149.29, for a total transaction of $93,007.67. Following the transaction, the insider now owns 3,442 shares of the company’s stock, valued at $513,856.18. This trade represents a 15.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 232,906 shares of company stock valued at $33,869,030. Corporate insiders own 4.30% of the company’s stock.

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.