Gotham Asset Management LLC Sells 9,603 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Gotham Asset Management LLC lowered its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 62.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,714 shares of the company’s stock after selling 9,603 shares during the period. Gotham Asset Management LLC’s holdings in Neurocrine Biosciences were worth $780,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of NBIX. Caprock Group LLC acquired a new stake in Neurocrine Biosciences during the 4th quarter valued at approximately $236,000. Charles Schwab Investment Management Inc. lifted its holdings in Neurocrine Biosciences by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 762,557 shares of the company’s stock valued at $104,089,000 after buying an additional 15,266 shares during the period. Oakworth Capital Inc. bought a new stake in Neurocrine Biosciences during the fourth quarter valued at $379,000. Avantax Advisory Services Inc. grew its holdings in Neurocrine Biosciences by 11.4% during the 4th quarter. Avantax Advisory Services Inc. now owns 2,895 shares of the company’s stock worth $395,000 after acquiring an additional 297 shares during the period. Finally, Synergy Asset Management LLC bought a new position in shares of Neurocrine Biosciences in the 4th quarter worth about $996,000. Institutional investors and hedge funds own 92.59% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on NBIX shares. StockNews.com downgraded Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 20th. William Blair restated an “outperform” rating on shares of Neurocrine Biosciences in a report on Friday, February 7th. Canaccord Genuity Group lifted their price target on shares of Neurocrine Biosciences from $158.00 to $160.00 and gave the company a “buy” rating in a research note on Tuesday, May 6th. BMO Capital Markets increased their price objective on shares of Neurocrine Biosciences from $96.00 to $115.00 and gave the stock a “market perform” rating in a research report on Tuesday, May 6th. Finally, UBS Group raised their target price on Neurocrine Biosciences from $137.00 to $152.00 and gave the company a “buy” rating in a research note on Tuesday, May 6th. Three analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to MarketBeat.com, Neurocrine Biosciences has an average rating of “Moderate Buy” and a consensus price target of $162.00.

Neurocrine Biosciences Price Performance

NASDAQ NBIX opened at $121.02 on Monday. The company has a fifty day moving average price of $107.02 and a 200-day moving average price of $121.92. The firm has a market cap of $11.98 billion, a price-to-earnings ratio of 36.78, a PEG ratio of 0.77 and a beta of 0.26. Neurocrine Biosciences, Inc. has a 1 year low of $84.23 and a 1 year high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings data on Monday, May 5th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.62). The firm had revenue of $572.60 million during the quarter, compared to the consensus estimate of $587.06 million. Neurocrine Biosciences had a return on equity of 13.38% and a net margin of 14.49%. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.20 earnings per share. On average, research analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

Neurocrine Biosciences announced that its board has initiated a share repurchase program on Friday, February 21st that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to reacquire up to 4.2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Insider Transactions at Neurocrine Biosciences

In other news, Director William H. Rastetter sold 30,000 shares of Neurocrine Biosciences stock in a transaction on Monday, May 5th. The stock was sold at an average price of $110.20, for a total transaction of $3,306,000.00. Following the sale, the director now directly owns 37,491 shares in the company, valued at $4,131,508.20. The trade was a 44.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 4.80% of the company’s stock.

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.