Bessemer Group Inc. Reduces Holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Bessemer Group Inc. reduced its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 5.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,653 shares of the company’s stock after selling 1,113 shares during the period. Bessemer Group Inc.’s holdings in Neurocrine Biosciences were worth $2,819,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Neurocrine Biosciences by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 10,119,641 shares of the company’s stock worth $1,381,331,000 after acquiring an additional 122,681 shares in the last quarter. Geode Capital Management LLC increased its holdings in Neurocrine Biosciences by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 1,875,062 shares of the company’s stock worth $255,523,000 after purchasing an additional 15,830 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Neurocrine Biosciences by 102.9% in the 4th quarter. Wellington Management Group LLP now owns 1,457,425 shares of the company’s stock valued at $198,939,000 after purchasing an additional 739,199 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Neurocrine Biosciences by 8.6% during the 4th quarter. Invesco Ltd. now owns 949,512 shares of the company’s stock valued at $129,608,000 after buying an additional 74,847 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Neurocrine Biosciences by 1.4% during the fourth quarter. Bank of New York Mellon Corp now owns 870,290 shares of the company’s stock worth $118,795,000 after buying an additional 12,040 shares in the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Kyle Gano sold 65,000 shares of Neurocrine Biosciences stock in a transaction on Wednesday, January 15th. The stock was 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 directly owns 135,392 shares in the company, valued at approximately $19,157,968. This trade represents a 32.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kevin Charles Gorman sold 146,105 shares of the company’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $149.46, for a total value of $21,836,853.30. Following the completion of the sale, the director now owns 514,596 shares of the company’s stock, valued at approximately $76,911,518.16. This trade represents a 22.11 % 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 over the last 90 days. 4.30% of the stock is currently owned by company insiders.

Neurocrine Biosciences Trading Up 0.2 %

NBIX opened at $90.87 on Monday. Neurocrine Biosciences, Inc. has a twelve month low of $84.23 and a twelve month high of $157.98. The stock has a market cap of $9.06 billion, a PE ratio of 27.62, a price-to-earnings-growth ratio of 0.77 and a beta of 0.33. The business’s 50 day moving average is $111.68 and its 200-day moving average is $123.06.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its earnings results on Thursday, February 6th. The company reported $1.00 earnings per share for the quarter, missing the consensus estimate of $1.62 by ($0.62). Neurocrine Biosciences had a net margin of 14.49% and a return on equity of 13.38%. As a group, analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

Neurocrine Biosciences announced that its Board of Directors has authorized a share buyback plan on Friday, February 21st that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to repurchase up to 4.2% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. UBS Group cut their price target on shares of Neurocrine Biosciences from $154.00 to $137.00 and set a “buy” rating on the stock in a report on Friday, April 4th. Piper Sandler restated an “overweight” rating and issued a $160.00 target price on shares of Neurocrine Biosciences in a research note on Monday, December 23rd. Royal Bank of Canada decreased their price target on 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. Bank of America cut their price objective on Neurocrine Biosciences from $184.00 to $179.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. Finally, JPMorgan Chase & Co. lifted their target price on Neurocrine Biosciences from $183.00 to $184.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 26th. 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 data from MarketBeat.com, the company presently 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.