Bellevue Group AG Sells 43,800 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Bellevue Group AG decreased its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 2.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,820,000 shares of the company’s stock after selling 43,800 shares during the period. Neurocrine Biosciences accounts for about 4.8% of Bellevue Group AG’s holdings, making the stock its 3rd biggest holding. Bellevue Group AG’s holdings in Neurocrine Biosciences were worth $248,430,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB bought a new position in shares of Neurocrine Biosciences in the 3rd quarter worth about $384,000. Tidal Investments LLC lifted its stake in Neurocrine Biosciences by 52.8% in the third quarter. Tidal Investments LLC now owns 15,043 shares of the company’s stock valued at $1,733,000 after buying an additional 5,197 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Neurocrine Biosciences by 32.0% during the 4th quarter. GAMMA Investing LLC now owns 2,295 shares of the company’s stock worth $313,000 after buying an additional 557 shares in the last quarter. Everence Capital Management Inc. acquired a new stake in shares of Neurocrine Biosciences during the 4th quarter worth approximately $476,000. Finally, First Hawaiian Bank increased its stake in shares of Neurocrine Biosciences by 21.3% in the 4th quarter. First Hawaiian Bank now owns 12,243 shares of the company’s stock valued at $1,671,000 after acquiring an additional 2,150 shares in the last quarter. 92.59% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

NBIX has been the subject of a number of research reports. Needham & Company LLC upgraded shares of Neurocrine Biosciences from a “hold” rating to a “buy” rating and set a $138.00 price target for the company in a report on Tuesday, April 15th. William Blair restated an “outperform” rating on shares of Neurocrine Biosciences in a research note on Friday, February 7th. Bank of America dropped their price target on Neurocrine Biosciences from $184.00 to $179.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. Morgan Stanley reissued an “overweight” rating and issued a $150.00 price objective (down previously from $185.00) on shares of Neurocrine Biosciences in a research note on Friday, March 7th. Finally, Royal Bank of Canada upgraded Neurocrine Biosciences from a “sector perform” rating to an “outperform” rating and cut their target price for the stock from $138.00 to $137.00 in a report on Monday, April 14th. Three analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Neurocrine Biosciences currently has an average rating of “Moderate Buy” and an average price target of $160.90.

Insider Buying and Selling at Neurocrine Biosciences

In related news, insider Ingrid Delaet sold 623 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $149.29, for a total value of $93,007.67. Following the completion of the transaction, the insider now directly owns 3,442 shares of the company’s stock, valued at approximately $513,856.18. This trade represents a 15.33 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Julie Cooke sold 700 shares of the business’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $118.28, for a total transaction of $82,796.00. Following the sale, the insider now directly owns 18,831 shares in the company, valued at $2,227,330.68. The trade was a 3.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 14,530 shares of company stock worth $1,722,989 over the last ninety days. 4.30% of the stock is currently owned by company insiders.

Neurocrine Biosciences Stock Performance

Shares of NASDAQ:NBIX opened at $109.68 on Friday. The company has a market capitalization of $10.85 billion, a P/E ratio of 33.34, a price-to-earnings-growth ratio of 0.77 and a beta of 0.33. The company’s 50-day moving average is $106.19 and its 200 day moving average is $121.86. Neurocrine Biosciences, Inc. has a fifty-two week low of $84.23 and a fifty-two week high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX) last released its 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 net margin of 14.49% and a return on equity of 13.38%. As a group, research analysts predict that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.

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

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.