Walleye Capital LLC Has $1.22 Million Holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Walleye Capital LLC decreased its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 89.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 8,959 shares of the company’s stock after selling 77,987 shares during the period. Walleye Capital LLC’s holdings in Neurocrine Biosciences were worth $1,223,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Caprock Group LLC bought a new position in Neurocrine Biosciences during the 4th quarter worth $236,000. Charles Schwab Investment Management Inc. increased its position in Neurocrine Biosciences by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 762,557 shares of the company’s stock worth $104,089,000 after acquiring an additional 15,266 shares during the period. Tri Ri Asset Management Corp bought a new position in Neurocrine Biosciences during the third quarter worth about $3,236,000. Oakworth Capital Inc. acquired a new stake in Neurocrine Biosciences in the 4th quarter worth about $379,000. Finally, Synergy Asset Management LLC bought a new stake in Neurocrine Biosciences in the 4th quarter valued at about $996,000. 92.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on NBIX shares. StockNews.com downgraded shares of Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 20th. Bank of America cut their target price on Neurocrine Biosciences from $184.00 to $179.00 and set a “buy” rating for the company in a research report on Friday, February 7th. Royal Bank of Canada upgraded Neurocrine Biosciences from a “sector perform” rating to an “outperform” rating and decreased their price target for the stock from $138.00 to $137.00 in a research report on Monday, April 14th. Wedbush cut their price objective on shares of Neurocrine Biosciences from $157.00 to $147.00 and set an “outperform” rating for the company in a research report on Friday, February 7th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Neurocrine Biosciences in a research note on Tuesday, February 11th. They set a “hold” rating and a $138.00 price objective on the stock. Three equities research 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 target price of $161.86.

Insider Transactions at Neurocrine Biosciences

In other news, insider Julie Cooke sold 1,740 shares of Neurocrine Biosciences stock in a transaction on Friday, January 31st. The shares were sold at an average price of $152.89, for a total value of $266,028.60. Following the completion of the sale, the insider now owns 18,202 shares in the company, valued at $2,782,903.78. The trade was a 8.73 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Ingrid Delaet sold 623 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $149.29, for a total transaction of $93,007.67. Following the transaction, the insider now directly owns 3,442 shares in the company, valued at approximately $513,856.18. This represents a 15.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 167,906 shares of company stock valued at $24,671,530. Corporate insiders own 4.30% of the company’s stock.

Neurocrine Biosciences Price Performance

Shares of NBIX opened at $101.38 on Friday. The business has a 50-day moving average of $108.35 and a 200-day moving average of $122.45. Neurocrine Biosciences, Inc. has a 1 year low of $84.23 and a 1 year high of $157.98. The company has a market capitalization of $10.03 billion, a price-to-earnings ratio of 30.81, a price-to-earnings-growth ratio of 0.77 and a beta of 0.33.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings data 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 net margin of 14.49% and a return on equity of 13.38%. As a group, sell-side analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

Neurocrine Biosciences announced that its Board of Directors has approved a share buyback plan on Friday, February 21st that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to buy up to 4.2% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its stock is 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.