EFG Asset Management North America Corp. Lowers Stock Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

EFG Asset Management North America Corp. lowered its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 51.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,321 shares of the company’s stock after selling 14,190 shares during the period. EFG Asset Management North America Corp.’s holdings in Neurocrine Biosciences were worth $1,819,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Louisiana State Employees Retirement System boosted its holdings in Neurocrine Biosciences by 0.4% during the 4th quarter. Louisiana State Employees Retirement System now owns 28,100 shares of the company’s stock valued at $3,836,000 after acquiring an additional 100 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in Neurocrine Biosciences by 0.5% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 22,361 shares of the company’s stock valued at $3,052,000 after acquiring an additional 103 shares in the last quarter. Metis Global Partners LLC boosted its stake in shares of Neurocrine Biosciences by 4.3% during the 4th quarter. Metis Global Partners LLC now owns 2,548 shares of the company’s stock valued at $348,000 after purchasing an additional 104 shares in the last quarter. Commerce Bank boosted its position in Neurocrine Biosciences by 2.6% during the 3rd quarter. Commerce Bank now owns 4,199 shares of the company’s stock valued at $484,000 after acquiring an additional 108 shares in the last quarter. Finally, Brooklyn Investment Group grew its stake in Neurocrine Biosciences by 99.1% in the fourth quarter. Brooklyn Investment Group now owns 231 shares of the company’s stock worth $32,000 after purchasing an additional 115 shares during the period. Institutional investors own 92.59% of the company’s stock.

Insider Activity

In other Neurocrine Biosciences news, Director Kevin Charles Gorman sold 2,707 shares of the business’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $152.92, for a total value of $413,954.44. Following the completion of the sale, the director now directly owns 517,030 shares of the company’s stock, valued at $79,064,227.60. The trade was a 0.52 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Julie Cooke sold 1,551 shares of the stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $116.78, for a total value of $181,125.78. Following the completion of the transaction, the insider now directly owns 19,544 shares in the company, valued at approximately $2,282,348.32. This trade represents a 7.35 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 233,178 shares of company stock valued at $33,906,594. 4.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

NBIX has been the topic of a number of recent research reports. StockNews.com cut shares of Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 20th. William Blair reiterated an “outperform” rating on shares of Neurocrine Biosciences in a report on Friday, February 7th. Guggenheim decreased their target price on shares of Neurocrine Biosciences from $165.00 to $163.00 and set a “buy” rating for the company in a research note on Monday, February 10th. Royal Bank of Canada reduced their price target on shares of Neurocrine Biosciences from $154.00 to $148.00 and set a “sector perform” rating for the company in a research report on Friday, February 7th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Neurocrine Biosciences in a report on Tuesday, February 11th. They issued a “hold” rating and a $138.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Neurocrine Biosciences presently has a consensus rating of “Moderate Buy” and a consensus price target of $165.24.

Neurocrine Biosciences Stock Up 0.5 %

Shares of NASDAQ:NBIX opened at $116.18 on Wednesday. Neurocrine Biosciences, Inc. has a 52 week low of $105.18 and a 52 week high of $157.98. The firm has a fifty day simple moving average of $125.89 and a two-hundred day simple moving average of $125.10. The stock has a market capitalization of $11.58 billion, a P/E ratio of 35.31, a PEG ratio of 0.77 and a beta of 0.35.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings results on Thursday, February 6th. The company reported $1.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.62 by ($0.62). Neurocrine Biosciences had a return on equity of 13.38% and a net margin of 14.49%. On average, analysts expect that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.

Neurocrine Biosciences announced that its Board of Directors has initiated a stock repurchase plan on Friday, February 21st that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 4.2% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.

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.