UniSuper Management Pty Ltd Sells 6,102 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

UniSuper Management Pty Ltd cut its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 76.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,900 shares of the company’s stock after selling 6,102 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Neurocrine Biosciences were worth $259,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of NBIX. Raymond James Financial Inc. bought a new stake in Neurocrine Biosciences during the fourth quarter valued at $115,193,000. Thrivent Financial for Lutherans raised its holdings in shares of Neurocrine Biosciences by 2,759.4% in the 4th quarter. Thrivent Financial for Lutherans now owns 737,772 shares of the company’s stock valued at $100,705,000 after acquiring an additional 711,970 shares in the last quarter. State Street Corp boosted its position in shares of Neurocrine Biosciences by 11.7% during the 3rd quarter. State Street Corp now owns 5,148,293 shares of the company’s stock valued at $593,186,000 after acquiring an additional 539,936 shares during the last quarter. Jennison Associates LLC grew its holdings in shares of Neurocrine Biosciences by 145.1% during the fourth quarter. Jennison Associates LLC now owns 820,694 shares of the company’s stock worth $112,025,000 after purchasing an additional 485,894 shares in the last quarter. Finally, Impax Asset Management Group plc increased its position in shares of Neurocrine Biosciences by 207.8% in the fourth quarter. Impax Asset Management Group plc now owns 261,599 shares of the company’s stock worth $35,708,000 after purchasing an additional 176,599 shares during the last quarter. 92.59% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on NBIX shares. Morgan Stanley reissued an “overweight” rating and issued a $150.00 price target (down previously from $185.00) on shares of Neurocrine Biosciences in a research note on Friday, March 7th. UBS Group upped their target price on shares of Neurocrine Biosciences from $162.00 to $176.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Royal Bank of Canada dropped their price target on Neurocrine Biosciences from $154.00 to $148.00 and set a “sector perform” rating for the company in a research note on Friday, February 7th. William Blair reiterated an “outperform” rating on shares of Neurocrine Biosciences in a research report on Friday, February 7th. Finally, Canaccord Genuity Group dropped their target price on Neurocrine Biosciences from $172.00 to $163.00 and set a “buy” rating for the company in a research report on Friday, February 7th. Five 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. Based on data from MarketBeat, Neurocrine Biosciences currently has a consensus rating of “Moderate Buy” and a consensus price target of $165.38.

Neurocrine Biosciences Price Performance

NBIX opened at $110.60 on Tuesday. Neurocrine Biosciences, Inc. has a one year low of $105.18 and a one year high of $157.98. The business has a 50 day simple moving average of $123.51 and a two-hundred day simple moving average of $124.89. The firm has a market capitalization of $11.03 billion, a price-to-earnings ratio of 33.62, a PEG ratio of 0.77 and a beta of 0.35.

Neurocrine Biosciences (NASDAQ:NBIX) last announced 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 net margin of 14.49% and a return on equity of 13.38%. As a group, sell-side analysts expect that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

Neurocrine Biosciences announced that its Board of Directors has approved a share buyback plan on Friday, February 21st that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 4.2% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

Insider Transactions at Neurocrine Biosciences

In related news, Director Kevin Charles Gorman sold 5,844 shares of the stock in a transaction dated Thursday, February 13th. The shares were 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 $60,867,604.42. This represents a 1.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Kyle Gano sold 65,000 shares of Neurocrine Biosciences stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $141.50, for a total value of $9,197,500.00. Following the sale, the chief executive officer now directly owns 135,392 shares in the company, valued at approximately $19,157,968. The trade was a 32.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 232,906 shares of company stock valued at $33,869,030. Company insiders own 4.30% of the company’s stock.

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.