Vinva Investment Management Ltd Sells 25,249 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Vinva Investment Management Ltd reduced its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 65.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 13,291 shares of the company’s stock after selling 25,249 shares during the period. Vinva Investment Management Ltd’s holdings in Neurocrine Biosciences were worth $1,822,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Golden State Wealth Management LLC purchased a new position in Neurocrine Biosciences in the 4th quarter worth $25,000. Brooklyn Investment Group raised its position in Neurocrine Biosciences by 99.1% in the 4th quarter. Brooklyn Investment Group now owns 231 shares of the company’s stock worth $32,000 after purchasing an additional 115 shares during the period. Lindbrook Capital LLC raised its position in Neurocrine Biosciences by 53.5% in the 4th 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 purchased a new position in Neurocrine Biosciences in the 4th quarter worth $61,000. Finally, UMB Bank n.a. raised its position in Neurocrine Biosciences by 211.6% in the 4th quarter. UMB Bank n.a. now owns 455 shares of the company’s stock worth $62,000 after purchasing an additional 309 shares during the period. 92.59% of the stock is owned by institutional investors.

Neurocrine Biosciences Price Performance

NASDAQ:NBIX opened at $110.07 on Friday. Neurocrine Biosciences, Inc. has a one year low of $105.18 and a one year high of $157.98. The company’s 50-day simple moving average is $127.48 and its 200 day simple moving average is $125.25. The firm has a market capitalization of $10.97 billion, a P/E ratio of 33.46, a PEG ratio of 0.77 and a beta of 0.35.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings data on Thursday, February 6th. The company reported $1.00 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 research analysts expect that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

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

Insider Transactions at Neurocrine Biosciences

In other news, Director Kevin Charles Gorman sold 5,844 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $116.69, for a total value of $681,936.36. Following the transaction, the director now owns 521,618 shares in the company, valued at approximately $60,867,604.42. This represents a 1.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Ingrid Delaet sold 272 shares of the company’s stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $138.10, for a total transaction of $37,563.20. Following the completion of the transaction, the insider now owns 2,507 shares in the company, valued at approximately $346,216.70. This represents a 9.79 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 233,178 shares of company stock worth $33,906,594. Corporate insiders own 4.30% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Neurocrine Biosciences in a research report on Tuesday, February 11th. They issued a “hold” rating and a $138.00 target price on the stock. StockNews.com cut shares of Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research report on Thursday. Bank of America decreased their price objective on shares of Neurocrine Biosciences from $184.00 to $179.00 and set a “buy” rating on the stock in a research report on Friday, February 7th. Guggenheim decreased their price objective on shares of Neurocrine Biosciences from $165.00 to $163.00 and set a “buy” rating on the stock in a research report on Monday, February 10th. Finally, Barclays boosted their price objective on shares of Neurocrine Biosciences from $160.00 to $165.00 and gave the company an “overweight” rating in a research report on Monday, December 23rd. Five investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $165.24.

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.