Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Shares Sold by Orion Portfolio Solutions LLC

Orion Portfolio Solutions LLC reduced its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 3.8% during the 4th quarter, Holdings Channel reports. The fund owned 25,903 shares of the company’s stock after selling 1,031 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Neurocrine Biosciences were worth $3,536,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in NBIX. Vanguard Group Inc. increased its holdings in shares of Neurocrine Biosciences by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 10,119,641 shares of the company’s stock valued at $1,381,331,000 after purchasing an additional 122,681 shares during the period. State Street Corp increased its stake in Neurocrine Biosciences by 11.7% during the 3rd quarter. State Street Corp now owns 5,148,293 shares of the company’s stock valued at $593,186,000 after buying an additional 539,936 shares during the period. Geode Capital Management LLC raised its position in shares of Neurocrine Biosciences by 2.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,859,232 shares of the company’s stock worth $213,773,000 after buying an additional 39,610 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Neurocrine Biosciences by 1.4% in the 4th quarter. Bank of New York Mellon Corp now owns 870,290 shares of the company’s stock worth $118,795,000 after acquiring an additional 12,040 shares during the period. Finally, Raymond James Financial Inc. bought a new position in shares of Neurocrine Biosciences in the fourth quarter valued at approximately $115,193,000. Institutional investors own 92.59% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on NBIX. HC Wainwright restated a “buy” rating and issued a $185.00 target price on shares of Neurocrine Biosciences in a research report on Friday, February 21st. Bank of America cut their price objective on Neurocrine Biosciences from $184.00 to $179.00 and set a “buy” rating for the company in a report on Friday, February 7th. Wedbush lowered their target price on Neurocrine Biosciences from $157.00 to $147.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. Barclays upped their price target on shares of Neurocrine Biosciences from $160.00 to $165.00 and gave the company an “overweight” rating in a report on Monday, December 23rd. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Neurocrine Biosciences in a research note on Friday, February 7th. Five equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the 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.

Insider Buying and Selling at Neurocrine Biosciences

In other news, insider Ingrid Delaet sold 272 shares of the business’s stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $138.10, for a total value of $37,563.20. Following the transaction, the insider now directly owns 2,507 shares of the company’s stock, valued at $346,216.70. The trade was a 9.79 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Julie Cooke sold 1,740 shares of Neurocrine Biosciences stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $152.89, for a total value of $266,028.60. Following the completion of the transaction, the insider now directly owns 18,202 shares of the company’s stock, valued at $2,782,903.78. This represents a 8.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 233,178 shares of company stock worth $33,906,594 over the last three months. Company insiders own 4.30% of the company’s stock.

Neurocrine Biosciences Price Performance

Neurocrine Biosciences stock opened at $113.16 on Monday. The company’s fifty day moving average price is $124.17 and its two-hundred day moving average price is $124.96. Neurocrine Biosciences, Inc. has a one year low of $105.18 and a one year high of $157.98. The company has a market capitalization of $11.28 billion, a price-to-earnings ratio of 34.40, a PEG ratio of 0.77 and a beta of 0.35.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings data on Thursday, February 6th. The company reported $1.00 EPS 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%. As a group, sell-side analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.

Neurocrine Biosciences announced that its Board of Directors has approved a share buyback program on Friday, February 21st that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to repurchase up to 4.2% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are 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.