Yousif Capital Management LLC Trims Stock Holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Yousif Capital Management LLC trimmed its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 3.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 35,645 shares of the company’s stock after selling 1,398 shares during the quarter. Yousif Capital Management LLC’s holdings in Neurocrine Biosciences were worth $3,942,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of NBIX. Golden State Wealth Management LLC purchased a new stake in shares of Neurocrine Biosciences in the fourth quarter worth approximately $25,000. Savant Capital LLC purchased a new stake in shares of Neurocrine Biosciences in the fourth quarter worth approximately $2,258,000. Louisiana State Employees Retirement System raised its holdings in shares of Neurocrine Biosciences by 0.4% in the fourth quarter. Louisiana State Employees Retirement System now owns 28,100 shares of the company’s stock worth $3,836,000 after buying an additional 100 shares during the period. Van ECK Associates Corp raised its holdings in shares of Neurocrine Biosciences by 11.8% in the fourth quarter. Van ECK Associates Corp now owns 93,406 shares of the company’s stock worth $12,750,000 after buying an additional 9,824 shares during the period. Finally, Stanley Laman Group Ltd. raised its holdings in shares of Neurocrine Biosciences by 12.3% in the fourth quarter. Stanley Laman Group Ltd. now owns 42,158 shares of the company’s stock worth $5,755,000 after buying an additional 4,627 shares during the period. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on NBIX. Guggenheim raised their price objective on Neurocrine Biosciences from $155.00 to $165.00 and gave the stock a “buy” rating in a report on Tuesday, May 6th. Wedbush restated an “outperform” rating on shares of Neurocrine Biosciences in a report on Tuesday, May 6th. JPMorgan Chase & Co. raised their price objective on Neurocrine Biosciences from $183.00 to $184.00 and gave the stock an “overweight” rating in a report on Wednesday, March 26th. BMO Capital Markets raised their price objective on Neurocrine Biosciences from $96.00 to $115.00 and gave the stock a “market perform” rating in a report on Tuesday, May 6th. Finally, Evercore ISI reduced their price objective on Neurocrine Biosciences from $190.00 to $185.00 and set an “outperform” rating on the stock in a report on Thursday, April 24th. Three equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $162.00.

Insider Transactions at Neurocrine Biosciences

In other Neurocrine Biosciences news, Director Kevin Charles Gorman sold 9,613 shares of Neurocrine Biosciences stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $120.38, for a total transaction of $1,157,212.94. Following the completion of the sale, the director now owns 514,596 shares of the company’s stock, valued at approximately $61,947,066.48. The trade was a 1.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director William H. Rastetter sold 30,000 shares of Neurocrine Biosciences stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $110.20, for a total value of $3,306,000.00. Following the sale, the director now directly owns 37,491 shares of the company’s stock, valued at approximately $4,131,508.20. This represents a 44.45% decrease in their position. The disclosure for this sale can be found here. Insiders own 4.80% of the company’s stock.

Neurocrine Biosciences Price Performance

Neurocrine Biosciences stock opened at $125.01 on Friday. The stock has a market capitalization of $12.37 billion, a price-to-earnings ratio of 38.00, a PEG ratio of 0.77 and a beta of 0.24. Neurocrine Biosciences, Inc. has a 1-year low of $84.23 and a 1-year high of $157.98. The business has a fifty day moving average price of $111.75 and a 200-day moving average price of $121.94.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings data on Monday, May 5th. The company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.62). The business had revenue of $572.60 million during the quarter, compared to analyst estimates of $587.06 million. Neurocrine Biosciences had a return on equity of 13.38% and a net margin of 14.49%. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.20 EPS. On average, equities research analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

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

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.