Sterling Capital Management LLC Cuts Stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Sterling Capital Management LLC trimmed its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 11.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,612 shares of the company’s stock after selling 211 shares during the quarter. Sterling Capital Management LLC’s holdings in Neurocrine Biosciences were worth $220,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in NBIX. Golden State Wealth Management LLC acquired a new position in Neurocrine Biosciences during the 4th quarter worth approximately $25,000. Huntington National Bank grew its holdings in Neurocrine Biosciences by 73.5% during the fourth quarter. Huntington National Bank now owns 229 shares of the company’s stock worth $31,000 after acquiring an additional 97 shares during the period. Brooklyn Investment Group raised its position 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 acquiring an additional 115 shares in the last quarter. Lindbrook Capital LLC lifted its holdings in Neurocrine Biosciences by 53.5% in the fourth quarter. Lindbrook Capital LLC now owns 373 shares of the company’s stock valued at $51,000 after acquiring an additional 130 shares during the period. Finally, R Squared Ltd purchased a new stake in shares of Neurocrine Biosciences during the 4th quarter worth $61,000. 92.59% of the stock is owned by hedge funds and other institutional investors.

Neurocrine Biosciences Trading Up 1.3 %

Shares of NBIX opened at $101.38 on Monday. The stock’s fifty day simple moving average is $108.35 and its 200 day simple moving average is $122.53. Neurocrine Biosciences, Inc. has a twelve month low of $84.23 and a twelve month high of $157.98. The firm has a market capitalization of $10.03 billion, a P/E ratio of 30.81, a price-to-earnings-growth ratio of 0.77 and a beta of 0.33.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings data on Thursday, February 6th. The company reported $1.00 earnings per share 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%. Sell-side analysts predict that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.

Neurocrine Biosciences declared that its board has approved a share buyback program 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 stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

NBIX has been the topic of several research reports. Bank of America lowered their target price on Neurocrine Biosciences from $184.00 to $179.00 and set a “buy” rating on the stock in a report on Friday, February 7th. William Blair restated an “outperform” rating on shares of Neurocrine Biosciences in a report on Friday, February 7th. Morgan Stanley reaffirmed an “overweight” rating and issued a $150.00 price target (down previously from $185.00) on shares of Neurocrine Biosciences in a report on Friday, March 7th. Royal Bank of Canada upgraded shares of Neurocrine Biosciences from a “sector perform” rating to an “outperform” rating and lowered their price target for the company from $138.00 to $137.00 in a research report on Monday, April 14th. Finally, HC Wainwright restated a “buy” rating and set a $185.00 price objective on shares of Neurocrine Biosciences in a research report on Friday, February 21st. Three analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Neurocrine Biosciences has an average rating of “Moderate Buy” and an average target price of $161.86.

Insider Transactions at Neurocrine Biosciences

In related news, insider Julie Cooke sold 1,551 shares of the company’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $116.78, for a total value of $181,125.78. Following the sale, the insider now directly owns 19,544 shares of the company’s stock, valued at $2,282,348.32. This represents a 7.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kevin Charles Gorman sold 2,707 shares of the firm’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $152.92, for a total transaction of $413,954.44. Following the transaction, the director now directly owns 517,030 shares of the company’s stock, valued at approximately $79,064,227.60. This represents a 0.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 167,906 shares of company stock valued at $24,671,530. Corporate insiders own 4.30% of the company’s stock.

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.