Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Shares Sold by Advisors Asset Management Inc.

Advisors Asset Management Inc. lessened its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 5.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 36,395 shares of the company’s stock after selling 2,181 shares during the quarter. Advisors Asset Management Inc.’s holdings in Neurocrine Biosciences were worth $4,968,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System boosted its stake 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 valued at $3,836,000 after buying an additional 100 shares in the last quarter. Metis Global Partners LLC lifted its holdings in Neurocrine Biosciences by 4.3% in the fourth quarter. Metis Global Partners LLC now owns 2,548 shares of the company’s stock valued at $348,000 after acquiring an additional 104 shares during the period. Commerce Bank boosted its position in shares of Neurocrine Biosciences by 2.6% during the 3rd quarter. Commerce Bank now owns 4,199 shares of the company’s stock worth $484,000 after purchasing an additional 108 shares in the last quarter. Brooklyn Investment Group boosted its position in shares of Neurocrine Biosciences by 99.1% during the 4th quarter. Brooklyn Investment Group now owns 231 shares of the company’s stock worth $32,000 after purchasing an additional 115 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund grew its stake in shares of Neurocrine Biosciences by 0.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 20,633 shares of the company’s stock worth $2,816,000 after purchasing an additional 117 shares during the period. Institutional investors and hedge funds own 92.59% of the company’s stock.

Analysts Set New Price Targets

NBIX has been the topic of several recent analyst reports. Morgan Stanley restated an “overweight” rating and set a $150.00 target price (down from $185.00) on shares of Neurocrine Biosciences in a research report on Friday, March 7th. StockNews.com cut Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a report on Thursday. Guggenheim dropped their price objective on Neurocrine Biosciences from $165.00 to $163.00 and set a “buy” rating for the company in a research note on Monday, February 10th. Needham & Company LLC reiterated a “hold” rating on shares of Neurocrine Biosciences in a research report on Friday, February 7th. Finally, Wedbush cut their price target on Neurocrine Biosciences from $157.00 to $147.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Five equities research 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 stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $165.24.

Insider Buying and Selling

In other news, Director Kevin Charles Gorman sold 5,844 shares of the business’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $116.69, for a total transaction 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ingrid Delaet sold 272 shares of the firm’s stock in a transaction that occurred on Tuesday, December 31st. The shares were 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 $346,216.70. The trade was a 9.79 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 233,178 shares of company stock valued at $33,906,594. 4.30% of the stock is currently owned by company insiders.

Neurocrine Biosciences Price Performance

NASDAQ NBIX opened at $110.31 on Thursday. The company has a market cap of $11.00 billion, a P/E ratio of 33.53, a P/E/G ratio of 0.77 and a beta of 0.35. Neurocrine Biosciences, Inc. has a 12 month low of $105.18 and a 12 month high of $157.98. The company has a 50-day moving average of $128.06 and a 200-day moving average of $125.36.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings results 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%. As a group, equities research analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

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

Neurocrine Biosciences Company 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.