Gotham Asset Management LLC Sells 9,603 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Gotham Asset Management LLC lessened its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 62.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,714 shares of the company’s stock after selling 9,603 shares during the period. Gotham Asset Management LLC’s holdings in Neurocrine Biosciences were worth $780,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Neurocrine Biosciences by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 10,119,641 shares of the company’s stock worth $1,381,331,000 after purchasing an additional 122,681 shares during the last quarter. Dodge & Cox lifted its position in Neurocrine Biosciences by 134.2% during the 4th quarter. Dodge & Cox now owns 3,016,425 shares of the company’s stock worth $411,742,000 after buying an additional 1,728,605 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Neurocrine Biosciences by 2.9% during the 4th quarter. AQR Capital Management LLC now owns 1,896,891 shares of the company’s stock worth $258,926,000 after buying an additional 53,610 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Neurocrine Biosciences by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 1,875,062 shares of the company’s stock worth $255,523,000 after buying an additional 15,830 shares during the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of Neurocrine Biosciences by 102.9% in the 4th quarter. Wellington Management Group LLP now owns 1,457,425 shares of the company’s stock valued at $198,939,000 after acquiring an additional 739,199 shares in the last quarter. Institutional investors own 92.59% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on NBIX shares. Wedbush reissued an “outperform” rating on shares of Neurocrine Biosciences in a research report on Tuesday, May 6th. Needham & Company LLC increased their price objective on Neurocrine Biosciences from $138.00 to $139.00 and gave the company a “buy” rating in a report on Tuesday, May 6th. Canaccord Genuity Group raised their target price on shares of Neurocrine Biosciences from $158.00 to $160.00 and gave the company a “buy” rating in a research note on Tuesday, May 6th. JPMorgan Chase & Co. upped their price target on shares of Neurocrine Biosciences from $183.00 to $184.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 26th. Finally, BMO Capital Markets increased their price target on shares of Neurocrine Biosciences from $96.00 to $115.00 and gave the company a “market perform” rating in a research note on Tuesday, May 6th. Three analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $162.00.

Neurocrine Biosciences Price Performance

Shares of NASDAQ NBIX opened at $121.02 on Monday. The stock’s fifty day moving average price is $107.02 and its two-hundred day moving average price is $121.92. The firm has a market cap of $11.98 billion, a price-to-earnings ratio of 36.78, a P/E/G ratio of 0.77 and a beta of 0.26. Neurocrine Biosciences, Inc. has a one year low of $84.23 and a one year high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its earnings results on Monday, May 5th. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.62). The business had revenue of $572.60 million for the quarter, compared to the consensus estimate of $587.06 million. Neurocrine Biosciences had a return on equity of 13.38% and a net margin of 14.49%. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.20 earnings per share. On average, equities analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

Neurocrine Biosciences announced that its board has authorized a stock buyback program on Friday, February 21st that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to buy up to 4.2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other news, Director William H. Rastetter sold 30,000 shares of the stock in a transaction on Monday, May 5th. The stock was sold at an average price of $110.20, for a total transaction of $3,306,000.00. Following the sale, the director now directly owns 37,491 shares of the company’s stock, valued at approximately $4,131,508.20. This represents a 44.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 4.80% of the company’s stock.

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.