Envestnet Asset Management Inc. Has $27.74 Million Stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Envestnet Asset Management Inc. lowered its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 13.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 203,210 shares of the company’s stock after selling 30,330 shares during the quarter. Envestnet Asset Management Inc. owned about 0.20% of Neurocrine Biosciences worth $27,738,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in NBIX. Caprock Group LLC acquired a new stake in shares of Neurocrine Biosciences during the 4th quarter worth $236,000. Charles Schwab Investment Management Inc. grew its stake in Neurocrine Biosciences by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 762,557 shares of the company’s stock worth $104,089,000 after buying an additional 15,266 shares in the last quarter. Tri Ri Asset Management Corp bought a new position in Neurocrine Biosciences in the 3rd quarter valued at about $3,236,000. Oakworth Capital Inc. acquired a new position in shares of Neurocrine Biosciences in the 4th quarter valued at approximately $379,000. Finally, Synergy Asset Management LLC bought a new stake in shares of Neurocrine Biosciences during the 4th quarter worth approximately $996,000. Institutional investors own 92.59% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Kyle Gano sold 65,000 shares of the 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 transaction, the chief executive officer now owns 135,392 shares of the company’s stock, 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 through this link. Also, CFO Matt Abernethy sold 2,558 shares of the business’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $116.86, for a total value of $298,927.88. Following the completion of the sale, the chief financial officer now directly owns 34,775 shares of the company’s stock, valued at $4,063,806.50. The trade was a 6.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 232,906 shares of company stock worth $33,869,030. Corporate insiders own 4.30% of the company’s stock.

Neurocrine Biosciences Stock Up 0.2 %

NBIX stock opened at $90.87 on Friday. The firm has a market cap of $9.06 billion, a price-to-earnings ratio of 27.62, a PEG ratio of 0.77 and a beta of 0.33. The company’s fifty day simple moving average is $111.68 and its 200 day simple moving average is $123.01. Neurocrine Biosciences, Inc. has a 12-month low of $84.23 and a 12-month high of $157.98.

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

Neurocrine Biosciences declared that its Board of Directors has authorized a share repurchase program on Friday, February 21st that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 4.2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

Several research analysts have commented on NBIX shares. 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. Guggenheim reduced their price objective on Neurocrine Biosciences from $165.00 to $163.00 and set a “buy” rating on the stock in a research note on Monday, February 10th. StockNews.com downgraded Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 20th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Neurocrine Biosciences in a research note on Tuesday, February 11th. They issued a “hold” rating and a $138.00 price target on the stock. Finally, Morgan Stanley reiterated an “overweight” rating and set a $150.00 price objective (down from $185.00) on shares of Neurocrine Biosciences in a research report on Friday, March 7th. Five research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Neurocrine Biosciences currently has a consensus rating of “Moderate Buy” and a consensus price target of $163.52.

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.