Headlands Technologies LLC Decreases Stock Holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Headlands Technologies LLC cut its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 69.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,837 shares of the company’s stock after selling 13,566 shares during the period. Headlands Technologies LLC’s holdings in Neurocrine Biosciences were worth $797,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Golden State Wealth Management LLC purchased a new stake in Neurocrine Biosciences in the 4th quarter valued at $25,000. Brooklyn Investment Group increased its position in Neurocrine Biosciences by 99.1% during the fourth quarter. Brooklyn Investment Group now owns 231 shares of the company’s stock worth $32,000 after purchasing an additional 115 shares during the last quarter. Lindbrook Capital LLC raised its stake in Neurocrine Biosciences by 53.5% during the fourth quarter. Lindbrook Capital LLC now owns 373 shares of the company’s stock worth $51,000 after purchasing an additional 130 shares during the period. R Squared Ltd acquired a new position in Neurocrine Biosciences in the 4th quarter valued at about $61,000. Finally, UMB Bank n.a. grew its stake in shares of Neurocrine Biosciences by 211.6% in the 4th quarter. UMB Bank n.a. now owns 455 shares of the company’s stock valued at $62,000 after buying an additional 309 shares during the period. Institutional investors and hedge funds own 92.59% of the company’s stock.

Wall Street Analyst Weigh In

NBIX has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft started coverage on Neurocrine Biosciences in a report on Tuesday, February 11th. They issued a “hold” rating and a $138.00 price objective on the stock. UBS Group increased their price target on Neurocrine Biosciences from $162.00 to $176.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Wedbush reduced their price objective on shares of Neurocrine Biosciences from $157.00 to $147.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. Royal Bank of Canada lowered their target price on shares of 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. Finally, Guggenheim reduced their price target on shares of Neurocrine Biosciences from $165.00 to $163.00 and set a “buy” rating on the stock in a research note on Monday, February 10th. Five 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 stock. Based on data from MarketBeat, Neurocrine Biosciences presently has an average rating of “Moderate Buy” and an average price target of $165.38.

Insiders Place Their Bets

In other Neurocrine Biosciences news, CFO Matt Abernethy sold 2,558 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $116.86, for a total transaction of $298,927.88. Following the sale, the chief financial officer now owns 34,775 shares of the company’s stock, valued at approximately $4,063,806.50. This trade represents a 6.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ingrid Delaet sold 623 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $149.29, for a total transaction of $93,007.67. Following the completion of the transaction, the insider now owns 3,442 shares of the company’s stock, valued at approximately $513,856.18. The trade was a 15.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 232,906 shares of company stock valued at $33,869,030 in the last ninety days. Insiders own 4.30% of the company’s stock.

Neurocrine Biosciences Stock Up 1.2 %

Shares of NASDAQ:NBIX opened at $108.31 on Thursday. Neurocrine Biosciences, Inc. has a fifty-two week low of $105.18 and a fifty-two week high of $157.98. The firm’s 50 day moving average price is $121.97 and its 200 day moving average price is $124.66. The stock has a market cap of $10.80 billion, a price-to-earnings ratio of 32.92, a price-to-earnings-growth ratio of 0.77 and a beta of 0.35.

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

Neurocrine Biosciences declared that its board has initiated a stock repurchase plan on Friday, February 21st that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 4.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

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.