Barclays PLC Sells 3,223 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Barclays PLC cut its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 1.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 178,368 shares of the company’s stock after selling 3,223 shares during the period. Barclays PLC owned 0.18% of Neurocrine Biosciences worth $24,347,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Virtu Financial LLC purchased a new stake in shares of Neurocrine Biosciences in the 3rd quarter valued at about $1,985,000. Sanctuary Advisors LLC raised its stake in Neurocrine Biosciences by 103.9% in the third quarter. Sanctuary Advisors LLC now owns 7,649 shares of the company’s stock valued at $961,000 after purchasing an additional 3,898 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Neurocrine Biosciences during the third quarter valued at approximately $384,000. Tidal Investments LLC grew its stake in Neurocrine Biosciences by 52.8% in the 3rd quarter. Tidal Investments LLC now owns 15,043 shares of the company’s stock worth $1,733,000 after buying an additional 5,197 shares in the last quarter. Finally, Tri Ri Asset Management Corp bought a new position in shares of Neurocrine Biosciences in the 3rd quarter worth $3,236,000. 92.59% of the stock is currently owned by institutional investors.

Insider Activity

In other Neurocrine Biosciences news, CFO Matt Abernethy sold 1,283 shares of the firm’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $152.87, for a total transaction of $196,132.21. Following the transaction, the chief financial officer now directly owns 32,681 shares in the company, valued at $4,995,944.47. This trade represents a 3.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kevin Charles Gorman sold 146,105 shares of the company’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $149.46, for a total value of $21,836,853.30. Following the completion of the sale, the director now owns 514,596 shares of the company’s stock, valued at $76,911,518.16. This represents a 22.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 167,906 shares of company stock valued at $24,671,530. 4.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on NBIX. Bank of America lowered their price target on shares of Neurocrine Biosciences from $184.00 to $179.00 and set a “buy” rating for the company in a research note on Friday, February 7th. StockNews.com lowered Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 20th. Deutsche Bank Aktiengesellschaft started 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. Needham & Company LLC upgraded Neurocrine Biosciences from a “hold” rating to a “buy” rating and set a $138.00 price objective for the company in a research report on Tuesday, April 15th. Finally, Barclays raised their target price on shares of Neurocrine Biosciences from $160.00 to $165.00 and gave the stock an “overweight” rating in a report on Monday, December 23rd. Three analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $161.86.

Neurocrine Biosciences Trading Up 1.3 %

NBIX stock opened at $101.38 on Friday. The stock has a market cap of $10.03 billion, a PE ratio of 30.81, a P/E/G ratio of 0.77 and a beta of 0.33. Neurocrine Biosciences, Inc. has a 12 month low of $84.23 and a 12 month high of $157.98. The company has a 50-day moving average price of $108.35 and a 200 day moving average price of $122.45.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings results on Thursday, February 6th. The company reported $1.00 earnings per share 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%. Sell-side analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

Neurocrine Biosciences announced that its board has authorized a share buyback program on Friday, February 21st that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to repurchase up to 4.2% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Neurocrine Biosciences Company 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.