Envestnet Asset Management Inc. Sells 30,330 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Envestnet Asset Management Inc. decreased its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 13.0% during the 4th quarter, Holdings Channel.com reports. The fund owned 203,210 shares of the company’s stock after selling 30,330 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Neurocrine Biosciences were worth $27,738,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in NBIX. Golden State Wealth Management LLC purchased a new stake in shares of Neurocrine Biosciences in the fourth quarter worth approximately $25,000. Huntington National Bank raised its position in Neurocrine Biosciences by 73.5% in the 4th quarter. Huntington National Bank now owns 229 shares of the company’s stock valued at $31,000 after buying an additional 97 shares during the last quarter. Brooklyn Investment Group lifted its stake in Neurocrine Biosciences by 99.1% during the 4th quarter. Brooklyn Investment Group now owns 231 shares of the company’s stock valued at $32,000 after acquiring an additional 115 shares in the last quarter. Lindbrook Capital LLC lifted its stake in Neurocrine Biosciences by 53.5% during the 4th quarter. Lindbrook Capital LLC now owns 373 shares of the company’s stock valued at $51,000 after acquiring an additional 130 shares in the last quarter. Finally, R Squared Ltd bought a new stake in shares of Neurocrine Biosciences in the 4th quarter worth $61,000. Institutional investors and hedge funds own 92.59% of the company’s stock.

Insider Activity

In related news, insider Ingrid Delaet sold 623 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $149.29, for a total transaction of $93,007.67. Following the transaction, the insider now directly owns 3,442 shares of the company’s stock, valued at approximately $513,856.18. This trade represents a 15.33 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Kevin Charles Gorman sold 146,105 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $149.46, for a total value of $21,836,853.30. Following the completion of the sale, the director now owns 514,596 shares of the company’s stock, valued at $76,911,518.16. The trade was a 22.11 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 232,906 shares of company stock worth $33,869,030. 4.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on NBIX shares. Royal Bank of Canada cut their price target on shares of Neurocrine Biosciences from $154.00 to $148.00 and set a “sector perform” rating on the stock in a report on Friday, February 7th. Deutsche Bank Aktiengesellschaft assumed coverage on Neurocrine Biosciences in a research report on Tuesday, February 11th. They set a “hold” rating and a $138.00 price target for the company. William Blair reissued an “outperform” rating on shares of Neurocrine Biosciences in a research report on Friday, February 7th. Barclays raised their target price on Neurocrine Biosciences from $160.00 to $165.00 and gave the company an “overweight” rating in a research report on Monday, December 23rd. Finally, StockNews.com cut shares of Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 20th. Five investment analysts have rated the stock with a hold rating, eighteen have issued 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 a consensus target price of $163.52.

Neurocrine Biosciences Stock Performance

NASDAQ:NBIX opened at $90.87 on Friday. The firm has a market capitalization of $9.06 billion, a price-to-earnings ratio of 27.62, a P/E/G ratio of 0.77 and a beta of 0.33. The stock has a fifty day moving average of $111.68 and a 200 day moving average of $123.01. Neurocrine Biosciences, Inc. has a 52-week low of $84.23 and a 52-week high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX) last posted 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 return on equity of 13.38% and a net margin of 14.49%. Equities analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

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

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.