Barclays PLC Cuts Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Barclays PLC reduced its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 1.8% in the fourth quarter, HoldingsChannel reports. The firm owned 178,368 shares of the company’s stock after selling 3,223 shares during the period. Barclays PLC’s holdings in Neurocrine Biosciences were worth $24,347,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Virtu Financial LLC purchased a new stake in shares of Neurocrine Biosciences during the third quarter valued at about $1,985,000. Sanctuary Advisors LLC raised its stake in shares of Neurocrine Biosciences by 103.9% during the 3rd quarter. Sanctuary Advisors LLC now owns 7,649 shares of the company’s stock worth $961,000 after acquiring an additional 3,898 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Neurocrine Biosciences during the third quarter valued at approximately $384,000. Tidal Investments LLC lifted its position in Neurocrine Biosciences by 52.8% during the third quarter. Tidal Investments LLC now owns 15,043 shares of the company’s stock valued at $1,733,000 after acquiring an additional 5,197 shares during the last quarter. Finally, Tri Ri Asset Management Corp acquired a new stake in Neurocrine Biosciences in the third quarter valued at approximately $3,236,000. Institutional investors own 92.59% of the company’s stock.

Neurocrine Biosciences Price Performance

NASDAQ:NBIX opened at $101.38 on Friday. The firm has a market cap of $10.03 billion, a price-to-earnings ratio of 30.81, a price-to-earnings-growth ratio of 0.77 and a beta of 0.33. The company has a 50 day moving average price of $108.35 and a 200-day moving average price of $122.45. Neurocrine Biosciences, Inc. has a 1-year low of $84.23 and a 1-year high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX) last issued 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%. On average, sell-side analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

Neurocrine Biosciences declared that its board has authorized a share buyback program 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 programs are usually a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Royal Bank of Canada raised Neurocrine Biosciences from a “sector perform” rating to an “outperform” rating and reduced their price target for the stock from $138.00 to $137.00 in a research report on Monday, April 14th. JPMorgan Chase & Co. increased their price target on Neurocrine Biosciences from $183.00 to $184.00 and gave the company an “overweight” rating in a research note on Wednesday, March 26th. Needham & Company LLC upgraded Neurocrine Biosciences from a “hold” rating to a “buy” rating and set a $138.00 price target on the stock in a research note on Tuesday, April 15th. HC Wainwright restated a “buy” rating and set a $185.00 price objective on shares of Neurocrine Biosciences in a report on Friday, February 21st. Finally, Canaccord Genuity Group lowered their target price on shares of Neurocrine Biosciences from $172.00 to $163.00 and set a “buy” rating for the company in a research note on Friday, February 7th. Three analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Neurocrine Biosciences currently has an average rating of “Moderate Buy” and an average target price of $161.86.

Insider Transactions at Neurocrine Biosciences

In other news, Director Kevin Charles Gorman sold 5,844 shares of the firm’s 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 transaction, the director now directly owns 521,618 shares of the company’s stock, valued at approximately $60,867,604.42. This trade represents a 1.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Julie Cooke sold 1,551 shares of the company’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $116.78, for a total transaction of $181,125.78. Following the sale, the insider now directly owns 19,544 shares of the company’s stock, valued at approximately $2,282,348.32. This represents a 7.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 167,906 shares of company stock valued at $24,671,530 over the last 90 days. Corporate insiders own 4.30% of the company’s stock.

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.