Intrust Bank NA Reduces Stock Holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Intrust Bank NA reduced its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 3.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,734 shares of the company’s stock after selling 92 shares during the period. Intrust Bank NA’s holdings in Neurocrine Biosciences were worth $373,000 at the end of the most recent quarter.

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

Neurocrine Biosciences Price Performance

NASDAQ:NBIX opened at $113.16 on Monday. Neurocrine Biosciences, Inc. has a 12 month low of $105.18 and a 12 month high of $157.98. The firm has a market capitalization of $11.28 billion, a PE ratio of 34.40, a price-to-earnings-growth ratio of 0.77 and a beta of 0.35. The business’s fifty day moving average price is $124.17 and its 200 day moving average price is $124.96.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings data on Thursday, February 6th. The company reported $1.00 earnings per share (EPS) for the quarter, missing the consensus estimate 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, equities analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

Neurocrine Biosciences declared that its board has approved a stock repurchase program 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 programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at Neurocrine Biosciences

In other news, insider Ingrid Delaet sold 272 shares of the company’s stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $138.10, for a total value of $37,563.20. Following the completion of the transaction, the insider now owns 2,507 shares in the company, valued at approximately $346,216.70. This represents a 9.79 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Kevin Charles Gorman sold 5,844 shares of Neurocrine Biosciences 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 sale, the director now owns 521,618 shares in the company, valued at $60,867,604.42. This represents a 1.11 % 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. Insiders own 4.30% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Morgan Stanley reaffirmed an “overweight” rating and issued a $150.00 target price (down previously from $185.00) on shares of Neurocrine Biosciences in a research report on Friday, March 7th. William Blair restated an “outperform” rating on shares of Neurocrine Biosciences in a report on Friday, February 7th. Bank of America dropped their target price on shares of Neurocrine Biosciences from $184.00 to $179.00 and set a “buy” rating for the company in a report on Friday, February 7th. HC Wainwright restated a “buy” rating and set a $185.00 price target on shares of Neurocrine Biosciences in a research note on Friday, February 21st. Finally, JPMorgan Chase & Co. lifted their price objective on Neurocrine Biosciences from $183.00 to $184.00 and gave the company an “overweight” rating in a research note on Wednesday, March 26th. Five analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $165.38.

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.