Sei Investments Co. Reduces Stock Holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Sei Investments Co. reduced its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 3.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 150,424 shares of the company’s stock after selling 4,695 shares during the period. Sei Investments Co. owned approximately 0.15% of Neurocrine Biosciences worth $20,533,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Golden State Wealth Management LLC acquired a new position in shares of Neurocrine Biosciences during the fourth quarter valued at about $25,000. Brooklyn Investment Group grew its position in Neurocrine Biosciences by 99.1% during the 4th quarter. Brooklyn Investment Group now owns 231 shares of the company’s stock worth $32,000 after purchasing an additional 115 shares during the last quarter. Lindbrook Capital LLC increased its stake in Neurocrine Biosciences by 53.5% during the 4th quarter. Lindbrook Capital LLC now owns 373 shares of the company’s stock valued at $51,000 after purchasing an additional 130 shares in the last quarter. R Squared Ltd purchased a new position in shares of Neurocrine Biosciences in the fourth quarter worth $61,000. Finally, UMB Bank n.a. lifted its stake in shares of Neurocrine Biosciences by 211.6% during the fourth quarter. UMB Bank n.a. now owns 455 shares of the company’s stock worth $62,000 after buying an additional 309 shares during the period. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Neurocrine Biosciences Trading Down 1.5 %

NASDAQ:NBIX opened at $114.45 on Thursday. The stock has a 50 day moving average of $125.33 and a two-hundred day moving average of $125.02. Neurocrine Biosciences, Inc. has a 12 month low of $105.18 and a 12 month high of $157.98. The firm has a market cap of $11.41 billion, a P/E ratio of 34.79, a price-to-earnings-growth ratio of 0.77 and a beta of 0.35.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings data on Thursday, February 6th. The company reported $1.00 EPS 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 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 permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to buy up to 4.2% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Insider Transactions at Neurocrine Biosciences

In related news, insider Ingrid Delaet sold 272 shares of Neurocrine Biosciences stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $138.10, for a total transaction of $37,563.20. Following the transaction, the insider now owns 2,507 shares in the company, valued at approximately $346,216.70. This trade represents a 9.79 % 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, CFO Matt Abernethy sold 2,558 shares of the company’s stock in a transaction 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 completion of the sale, the chief financial officer now owns 34,775 shares of the company’s stock, valued at approximately $4,063,806.50. The trade was a 6.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 233,178 shares of company stock valued at $33,906,594. Corporate insiders own 4.30% of the company’s stock.

Analyst Upgrades and Downgrades

NBIX has been the subject of a number of research analyst reports. Wedbush reduced their target price on Neurocrine Biosciences from $157.00 to $147.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. UBS Group raised their price target on shares of Neurocrine Biosciences from $162.00 to $176.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Bank of America dropped their price objective on shares of Neurocrine Biosciences from $184.00 to $179.00 and set a “buy” rating on the stock in a report on Friday, February 7th. Guggenheim reduced their target price on shares of Neurocrine Biosciences from $165.00 to $163.00 and set a “buy” rating for the company in a report on Monday, February 10th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Neurocrine Biosciences in a research report on Tuesday, February 11th. They set a “hold” rating and a $138.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $165.38.

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.