Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Shares Sold by Korea Investment CORP

Korea Investment CORP lowered its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 7.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 61,089 shares of the company’s stock after selling 5,100 shares during the quarter. Korea Investment CORP owned approximately 0.06% of Neurocrine Biosciences worth $8,339,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Segall Bryant & Hamill LLC lifted its holdings in Neurocrine Biosciences by 28.5% in the 4th quarter. Segall Bryant & Hamill LLC now owns 46,870 shares of the company’s stock valued at $6,398,000 after purchasing an additional 10,398 shares in the last quarter. Prudential Financial Inc. boosted its position in Neurocrine Biosciences by 18.9% during the fourth quarter. Prudential Financial Inc. now owns 210,175 shares of the company’s stock worth $28,689,000 after acquiring an additional 33,450 shares during the last quarter. Crowley Wealth Management Inc. purchased a new stake in Neurocrine Biosciences during the 4th quarter valued at about $136,000. Vanguard Group Inc. raised its holdings in Neurocrine Biosciences by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 10,119,641 shares of the company’s stock valued at $1,381,331,000 after acquiring an additional 122,681 shares during the last quarter. Finally, LPL Financial LLC lifted its stake in Neurocrine Biosciences by 27.8% in the 4th quarter. LPL Financial LLC now owns 16,754 shares of the company’s stock worth $2,287,000 after purchasing an additional 3,643 shares in the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on NBIX. Royal Bank of Canada reduced their price objective on Neurocrine Biosciences from $154.00 to $148.00 and set a “sector perform” rating on the stock in a research report on Friday, February 7th. Bank of America dropped their price objective on shares of Neurocrine Biosciences from $184.00 to $179.00 and set a “buy” rating for the company in a report on Friday, February 7th. Needham & Company LLC reissued a “hold” rating on shares of Neurocrine Biosciences in a research note on Friday, February 7th. Barclays lifted their price target on shares of Neurocrine Biosciences from $160.00 to $165.00 and gave the company an “overweight” rating in a research report on Monday, December 23rd. Finally, Piper Sandler reiterated an “overweight” rating and issued a $160.00 price objective on shares of Neurocrine Biosciences in a research report on Monday, December 23rd. Five research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $165.38.

Neurocrine Biosciences Stock Down 2.3 %

Shares of Neurocrine Biosciences stock opened at $110.60 on Tuesday. Neurocrine Biosciences, Inc. has a 52-week low of $105.18 and a 52-week high of $157.98. The company has a market capitalization of $11.03 billion, a P/E ratio of 33.62, a P/E/G ratio of 0.77 and a beta of 0.35. The company has a 50 day moving average of $123.51 and a 200 day moving average of $124.89.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its earnings results 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 return on equity of 13.38% and a net margin of 14.49%. As a group, research analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

Neurocrine Biosciences announced that its Board of Directors has initiated a share repurchase plan on Friday, February 21st that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to repurchase up to 4.2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Activity

In related news, Director Kevin Charles Gorman sold 5,844 shares of the stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $116.69, for a total value of $681,936.36. Following the transaction, the director now directly owns 521,618 shares of the company’s stock, valued at $60,867,604.42. This trade represents a 1.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Julie Cooke sold 1,740 shares of the business’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $152.89, for a total transaction of $266,028.60. Following the completion of the sale, the insider now directly owns 18,202 shares of the company’s stock, valued at approximately $2,782,903.78. This trade represents a 8.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 232,906 shares of company stock worth $33,869,030. 4.30% of the stock is currently owned by insiders.

About Neurocrine Biosciences

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.