Headlands Technologies LLC Sells 13,566 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Headlands Technologies LLC lessened its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 69.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,837 shares of the company’s stock after selling 13,566 shares during the quarter. Headlands Technologies LLC’s holdings in Neurocrine Biosciences were worth $797,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Quantbot Technologies LP purchased a new position in shares of Neurocrine Biosciences during the third quarter valued at approximately $89,000. Verition Fund Management LLC bought a new position in Neurocrine Biosciences in the 3rd quarter valued at $959,000. Investment Management Corp of Ontario increased its stake in Neurocrine Biosciences by 33.5% in the third quarter. Investment Management Corp of Ontario now owns 4,778 shares of the company’s stock worth $551,000 after purchasing an additional 1,200 shares during the period. Parkman Healthcare Partners LLC lifted its position in shares of Neurocrine Biosciences by 12.7% during the third quarter. Parkman Healthcare Partners LLC now owns 129,840 shares of the company’s stock worth $14,960,000 after purchasing an additional 14,670 shares during the last quarter. Finally, Royal London Asset Management Ltd. boosted its stake in shares of Neurocrine Biosciences by 13.3% during the third quarter. Royal London Asset Management Ltd. now owns 51,533 shares of the company’s stock valued at $5,938,000 after purchasing an additional 6,060 shares during the period. 92.59% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Kyle Gano sold 65,000 shares of the company’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $141.50, for a total transaction of $9,197,500.00. Following the completion of the transaction, the chief executive officer now owns 135,392 shares in the company, valued at $19,157,968. This represents a 32.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kevin Charles Gorman sold 5,844 shares of Neurocrine Biosciences stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $116.69, for a total value of $681,936.36. Following the completion of the sale, the director now owns 521,618 shares in the company, valued at approximately $60,867,604.42. The trade was a 1.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 232,906 shares of company stock worth $33,869,030. 4.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on NBIX shares. Guggenheim decreased their price objective on shares of Neurocrine Biosciences from $165.00 to $163.00 and set a “buy” rating for the company in a report on Monday, February 10th. Barclays increased their price objective on Neurocrine Biosciences from $160.00 to $165.00 and gave the stock an “overweight” rating in a research note on Monday, December 23rd. Morgan Stanley restated an “overweight” rating and set a $150.00 price target (down previously from $185.00) on shares of Neurocrine Biosciences in a research note on Friday, March 7th. HC Wainwright reissued a “buy” rating and set a $185.00 target price on shares of Neurocrine Biosciences in a research report on Friday, February 21st. Finally, Royal Bank of Canada lowered their price target on shares of Neurocrine Biosciences from $154.00 to $148.00 and set a “sector perform” rating for the company in a research report on Friday, February 7th. Five analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $165.38.

Neurocrine Biosciences Price Performance

NBIX opened at $108.31 on Thursday. The stock has a market cap of $10.80 billion, a P/E ratio of 32.92, a P/E/G ratio of 0.77 and a beta of 0.35. The firm has a fifty day moving average price of $121.97 and a 200 day moving average price of $124.66. Neurocrine Biosciences, Inc. has a 1 year low of $105.18 and a 1 year high of $157.98.

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

Neurocrine Biosciences announced that its Board of Directors has initiated a stock repurchase program on Friday, February 21st that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 4.2% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership 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.