Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Holdings Decreased by Rafferty Asset Management LLC

Rafferty Asset Management LLC decreased its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 24.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 107,011 shares of the company’s stock after selling 33,824 shares during the quarter. Rafferty Asset Management LLC owned approximately 0.11% of Neurocrine Biosciences worth $14,607,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the stock. Caprock Group LLC bought a new stake in shares of Neurocrine Biosciences during the fourth quarter valued at approximately $236,000. Charles Schwab Investment Management Inc. boosted its position in shares of Neurocrine Biosciences by 2.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 762,557 shares of the company’s stock valued at $104,089,000 after purchasing an additional 15,266 shares during the period. Oakworth Capital Inc. purchased a new position in shares of Neurocrine Biosciences in the fourth quarter worth approximately $379,000. Avantax Advisory Services Inc. grew its position in Neurocrine Biosciences by 11.4% during the 4th quarter. Avantax Advisory Services Inc. now owns 2,895 shares of the company’s stock worth $395,000 after purchasing an additional 297 shares in the last quarter. Finally, Synergy Asset Management LLC acquired a new position in Neurocrine Biosciences during the fourth quarter valued at $996,000. Institutional investors own 92.59% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on NBIX. Morgan Stanley reiterated an “overweight” rating and issued a $150.00 target price (down previously from $185.00) on shares of Neurocrine Biosciences in a research report on Friday, March 7th. Royal Bank of Canada lifted their price target on shares of Neurocrine Biosciences from $137.00 to $145.00 and gave the company an “outperform” rating in a research report on Tuesday, May 6th. Piper Sandler reissued an “overweight” rating and set a $154.00 price objective (down previously from $160.00) on shares of Neurocrine Biosciences in a research report on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft began coverage on shares of Neurocrine Biosciences in a research report on Tuesday, February 11th. They issued a “hold” rating and a $138.00 price target on the stock. Finally, Evercore ISI lowered their price objective on Neurocrine Biosciences from $190.00 to $185.00 and set an “outperform” rating on the stock in a research report on Thursday, April 24th. Three research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to MarketBeat.com, Neurocrine Biosciences presently has a consensus rating of “Moderate Buy” and a consensus price target of $162.00.

Neurocrine Biosciences Stock Performance

Shares of NBIX stock opened at $121.02 on Friday. The company has a market capitalization of $11.98 billion, a P/E ratio of 36.78, a price-to-earnings-growth ratio of 0.77 and a beta of 0.26. Neurocrine Biosciences, Inc. has a 52 week low of $84.23 and a 52 week high of $157.98. The company’s 50 day moving average price is $107.02 and its two-hundred day moving average price is $121.93.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings data on Monday, May 5th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.62). Neurocrine Biosciences had a return on equity of 13.38% and a net margin of 14.49%. The firm had revenue of $572.60 million for the quarter, compared to the consensus estimate of $587.06 million. During the same quarter in the previous year, the business posted $1.20 earnings per share. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. Analysts forecast 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 allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to repurchase up to 4.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Neurocrine Biosciences

In related news, Director William H. Rastetter sold 30,000 shares of the firm’s stock in a transaction on Monday, May 5th. The shares were sold at an average price of $110.20, for a total value of $3,306,000.00. Following the completion of the transaction, the director now owns 37,491 shares of the company’s stock, valued at approximately $4,131,508.20. This trade represents a 44.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.80% of the stock is currently owned by insiders.

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.