Sei Investments Co. Trims Stock Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Sei Investments Co. cut its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 3.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 150,424 shares of the company’s stock after selling 4,695 shares during the period. Sei Investments Co.’s holdings in Neurocrine Biosciences were worth $20,533,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC purchased a new stake in Neurocrine Biosciences in the fourth quarter valued at $25,000. Brooklyn Investment Group grew its holdings in shares of Neurocrine Biosciences by 99.1% during the 4th 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. Lindbrook Capital LLC increased its position in shares of Neurocrine Biosciences by 53.5% during the 4th quarter. Lindbrook Capital LLC now owns 373 shares of the company’s stock worth $51,000 after purchasing an additional 130 shares during the last quarter. R Squared Ltd purchased a new stake in Neurocrine Biosciences in the 4th quarter valued at about $61,000. Finally, UMB Bank n.a. lifted its position in Neurocrine Biosciences by 211.6% in the fourth quarter. UMB Bank n.a. now owns 455 shares of the company’s stock valued at $62,000 after buying an additional 309 shares during the last quarter. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Canaccord Genuity Group dropped their price target on shares of Neurocrine Biosciences from $172.00 to $163.00 and set a “buy” rating for the company in a research report on Friday, February 7th. JPMorgan Chase & Co. increased their price objective on shares of Neurocrine Biosciences from $183.00 to $184.00 and gave the stock an “overweight” rating in a research report on Wednesday. Guggenheim cut their target price on Neurocrine Biosciences from $165.00 to $163.00 and set a “buy” rating on the stock in a research report on Monday, February 10th. UBS Group upped their price target on Neurocrine Biosciences from $162.00 to $176.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Finally, Bank of America dropped their price objective on Neurocrine Biosciences from $184.00 to $179.00 and set a “buy” rating for the company in a research note on Friday, February 7th. Five research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $165.38.

Neurocrine Biosciences Trading Down 1.5 %

Shares of NBIX stock opened at $114.45 on Thursday. Neurocrine Biosciences, Inc. has a 12 month low of $105.18 and a 12 month high of $157.98. The company has a market cap of $11.41 billion, a P/E ratio of 34.79, a PEG ratio of 0.77 and a beta of 0.35. The firm has a fifty day moving average price of $125.33 and a 200 day moving average price of $125.02.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings data on Thursday, February 6th. The company reported $1.00 earnings per share (EPS) for the quarter, missing the consensus estimate 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, equities analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

Neurocrine Biosciences announced that its board has authorized a stock buyback 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 often a sign that the company’s board believes its shares are undervalued.

Insider Activity at Neurocrine Biosciences

In other news, insider Ingrid Delaet sold 272 shares of the business’s stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $138.10, for a total transaction of $37,563.20. Following the completion of the sale, the insider now owns 2,507 shares in the company, valued at approximately $346,216.70. The trade was a 9.79 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Matt Abernethy sold 2,558 shares of the stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $116.86, for a total transaction of $298,927.88. Following the completion of the transaction, the chief financial officer now directly owns 34,775 shares in the company, valued at $4,063,806.50. This trade represents a 6.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 233,178 shares of company stock valued at $33,906,594 over the last three months. 4.30% of the stock is owned by corporate 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.