Amundi Cuts Stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Amundi cut its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 60.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 261,860 shares of the company’s stock after selling 394,835 shares during the quarter. Amundi’s holdings in Neurocrine Biosciences were worth $36,323,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. State Street Corp lifted its holdings in Neurocrine Biosciences by 11.7% during the third quarter. State Street Corp now owns 5,148,293 shares of the company’s stock valued at $593,186,000 after purchasing an additional 539,936 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Neurocrine Biosciences by 2.2% during the third quarter. Geode Capital Management LLC now owns 1,859,232 shares of the company’s stock valued at $213,773,000 after buying an additional 39,610 shares during the period. Braidwell LP increased its position in shares of Neurocrine Biosciences by 20.9% during the third quarter. Braidwell LP now owns 917,674 shares of the company’s stock valued at $105,734,000 after buying an additional 158,665 shares during the period. Bank of New York Mellon Corp increased its position in shares of Neurocrine Biosciences by 1.4% during the fourth quarter. Bank of New York Mellon Corp now owns 870,290 shares of the company’s stock valued at $118,795,000 after buying an additional 12,040 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in shares of Neurocrine Biosciences during the fourth quarter valued at about $115,193,000. 92.59% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Neurocrine Biosciences

In other Neurocrine Biosciences news, Director Kevin Charles Gorman sold 5,844 shares of the firm’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $116.69, for a total transaction of $681,936.36. Following the completion of the transaction, the director now owns 521,618 shares of the company’s stock, valued at approximately $60,867,604.42. This trade represents a 1.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Kyle Gano sold 65,000 shares of the firm’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $141.50, for a total value of $9,197,500.00. Following the transaction, the chief executive officer now directly owns 135,392 shares of the company’s stock, valued at $19,157,968. This represents a 32.44 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 234,269 shares of company stock valued at $34,053,879. 4.30% of the stock is currently owned by company insiders.

Neurocrine Biosciences Stock Up 1.7 %

Shares of NBIX stock opened at $109.07 on Thursday. The stock has a fifty day moving average of $130.81 and a 200 day moving average of $126.29. Neurocrine Biosciences, Inc. has a 52 week low of $105.18 and a 52 week high of $157.98. The firm has a market capitalization of $10.87 billion, a price-to-earnings ratio of 33.15, a PEG ratio of 0.77 and a beta of 0.35.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings results 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%. Equities research analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.

Neurocrine Biosciences declared that its Board of Directors has authorized a stock repurchase plan on Friday, February 21st that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to repurchase up to 4.2% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on NBIX. Wedbush decreased their price target on Neurocrine Biosciences from $157.00 to $147.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. Piper Sandler restated an “overweight” rating and issued a $160.00 price objective on shares of Neurocrine Biosciences in a research report on Monday, December 23rd. William Blair restated an “outperform” rating on shares of Neurocrine Biosciences in a research report on Friday, February 7th. UBS Group increased their price target on shares of Neurocrine Biosciences from $162.00 to $176.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Finally, StockNews.com upgraded shares of Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Five analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Neurocrine Biosciences 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.