GraniteShares Advisors LLC Lowers Stock Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

GraniteShares Advisors LLC reduced its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 19.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,234 shares of the company’s stock after selling 795 shares during the period. GraniteShares Advisors LLC’s holdings in Neurocrine Biosciences were worth $441,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of NBIX. Golden State Wealth Management LLC bought a new position in Neurocrine Biosciences during the fourth quarter valued at approximately $25,000. Brooklyn Investment Group grew its position in Neurocrine Biosciences by 99.1% during the fourth quarter. Brooklyn Investment Group now owns 231 shares of the company’s stock valued at $32,000 after acquiring an additional 115 shares during the last quarter. Blue Trust Inc. grew its position in Neurocrine Biosciences by 171.9% during the third quarter. Blue Trust Inc. now owns 348 shares of the company’s stock valued at $40,000 after acquiring an additional 220 shares during the last quarter. R Squared Ltd bought a new position in Neurocrine Biosciences during the fourth quarter valued at approximately $61,000. Finally, UMB Bank n.a. grew its position in Neurocrine Biosciences by 211.6% during the fourth quarter. UMB Bank n.a. now owns 455 shares of the company’s stock valued at $62,000 after acquiring an additional 309 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors.

Neurocrine Biosciences Trading Down 2.7 %

Shares of Neurocrine Biosciences stock opened at $115.90 on Wednesday. The firm has a market capitalization of $11.56 billion, a P/E ratio of 35.23, a P/E/G ratio of 0.77 and a beta of 0.33. The business has a fifty day simple moving average of $136.35 and a two-hundred day simple moving average of $129.11. Neurocrine Biosciences, Inc. has a 12 month low of $110.95 and a 12 month high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX) last announced 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%. Analysts predict that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.

Neurocrine Biosciences declared that its board has initiated a stock repurchase program on Friday, February 21st that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to buy up to 4.2% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Bank of America reduced their price target on shares of Neurocrine Biosciences from $184.00 to $179.00 and set a “buy” rating on the stock in a research report on Friday, February 7th. William Blair restated an “outperform” rating on shares of Neurocrine Biosciences in a report on Friday, February 7th. 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. Guggenheim cut their target price on shares of Neurocrine Biosciences from $165.00 to $163.00 and set a “buy” rating on the stock in a report on Monday, February 10th. Finally, Canaccord Genuity Group cut their target price on shares of Neurocrine Biosciences from $172.00 to $163.00 and set a “buy” rating on the stock in a report on Friday, February 7th. Five research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $166.90.

Insider Buying and Selling at Neurocrine Biosciences

In other news, CEO Kyle Gano sold 65,000 shares of Neurocrine Biosciences stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $141.50, for a total value of $9,197,500.00. Following the completion of the transaction, the chief executive officer now owns 135,392 shares of the company’s stock, valued at $19,157,968. The trade was a 32.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kevin Charles Gorman sold 5,844 shares of Neurocrine Biosciences stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $116.69, for a total value of $681,936.36. Following the completion of the transaction, the director now directly owns 521,618 shares of the company’s stock, valued at approximately $60,867,604.42. This represents a 1.11 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 236,600 shares of company stock valued at $34,348,261. 4.30% of the stock is currently owned by company insiders.

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.