GraniteShares Advisors LLC Decreases Stock Holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

GraniteShares Advisors LLC decreased its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 19.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,234 shares of the company’s stock after selling 795 shares during the quarter. GraniteShares Advisors LLC’s holdings in Neurocrine Biosciences were worth $441,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of NBIX. Golden State Wealth Management LLC purchased a new position in Neurocrine Biosciences in the 4th quarter worth about $25,000. Brooklyn Investment Group grew its stake in shares of 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 during the period. Blue Trust Inc. grew its stake in shares of Neurocrine Biosciences by 171.9% during the 3rd quarter. Blue Trust Inc. now owns 348 shares of the company’s stock valued at $40,000 after acquiring an additional 220 shares during the period. R Squared Ltd bought a new position in shares of Neurocrine Biosciences during the 4th quarter valued at approximately $61,000. Finally, UMB Bank n.a. grew its stake in shares of Neurocrine Biosciences by 211.6% during the 4th quarter. UMB Bank n.a. now owns 455 shares of the company’s stock valued at $62,000 after acquiring an additional 309 shares during the period. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on NBIX. StockNews.com downgraded Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 18th. Guggenheim decreased their price objective on Neurocrine Biosciences from $165.00 to $163.00 and set a “buy” rating on the stock in a report on Monday, February 10th. UBS Group upped their price objective on Neurocrine Biosciences from $162.00 to $176.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. William Blair reaffirmed an “outperform” rating on shares of Neurocrine Biosciences in a report on Friday, February 7th. Finally, Morgan Stanley upped their price objective on Neurocrine Biosciences from $170.00 to $185.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. Five research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $166.90.

Neurocrine Biosciences Price Performance

Shares of NBIX stock opened at $115.90 on Wednesday. The stock’s 50-day moving average is $136.35 and its 200 day moving average is $129.11. Neurocrine Biosciences, Inc. has a 1-year low of $110.95 and a 1-year high of $157.98. The company has a market cap of $11.56 billion, a P/E ratio of 35.23, a PEG ratio of 0.77 and a beta of 0.33.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings results on Thursday, February 6th. The company reported $1.00 EPS for the quarter, missing analysts’ consensus estimates 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, analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

Neurocrine Biosciences announced that its Board of Directors has approved a stock buyback program on Friday, February 21st that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to purchase up to 4.2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling at Neurocrine Biosciences

In other news, Director Kevin Charles Gorman sold 2,707 shares of the firm’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $152.92, for a total value of $413,954.44. Following the completion of the transaction, the director now directly owns 517,030 shares in the company, valued at $79,064,227.60. This trade represents a 0.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Matt Abernethy sold 1,283 shares of the firm’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $152.87, for a total value of $196,132.21. Following the sale, the chief financial officer now directly owns 32,681 shares in the company, valued at approximately $4,995,944.47. This trade represents a 3.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 236,600 shares of company stock worth $34,348,261. 4.30% of the stock is 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.