Bank of America Corp DE Sells 139,554 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Bank of America Corp DE decreased its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 22.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 484,034 shares of the company's stock after selling 139,554 shares during the period. Bank of America Corp DE owned 0.48% of Neurocrine Biosciences worth $66,071,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in NBIX. OneDigital Investment Advisors LLC increased its stake in shares of Neurocrine Biosciences by 2.1% in the 4th quarter. OneDigital Investment Advisors LLC now owns 4,215 shares of the company's stock valued at $575,000 after acquiring an additional 87 shares in the last quarter. HighPoint Advisor Group LLC grew its holdings in Neurocrine Biosciences by 4.1% in the fourth quarter. HighPoint Advisor Group LLC now owns 2,446 shares of the company's stock worth $334,000 after purchasing an additional 96 shares during the period. Huntington National Bank increased its stake in Neurocrine Biosciences by 73.5% in the fourth quarter. Huntington National Bank now owns 229 shares of the company's stock valued at $31,000 after purchasing an additional 97 shares in the last quarter. Louisiana State Employees Retirement System raised its holdings in shares of Neurocrine Biosciences by 0.4% during the fourth quarter. Louisiana State Employees Retirement System now owns 28,100 shares of the company's stock valued at $3,836,000 after purchasing an additional 100 shares during the period. Finally, Utah Retirement Systems boosted its position in shares of Neurocrine Biosciences by 0.6% during the 4th quarter. Utah Retirement Systems now owns 16,583 shares of the company's stock worth $2,264,000 after purchasing an additional 100 shares in the last quarter. Institutional investors and hedge funds own 92.59% of the company's stock.

Neurocrine Biosciences Stock Performance

NASDAQ:NBIX traded up $0.75 during trading on Friday, reaching $121.02. The company's stock had a trading volume of 970,641 shares, compared to its average volume of 1,125,517. Neurocrine Biosciences, Inc. has a 12 month low of $84.23 and a 12 month high of $157.98. The firm has a market cap of $11.98 billion, a price-to-earnings ratio of 36.78, a price-to-earnings-growth ratio of 0.77 and a beta of 0.26. The firm has a 50 day moving average of $106.75 and a 200-day moving average of $121.90.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.62). The company had revenue of $572.60 million for the quarter, compared to the consensus estimate of $587.06 million. Neurocrine Biosciences had a net margin of 14.49% and a return on equity of 13.38%. Neurocrine Biosciences's quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.20 EPS. Equities research analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

Neurocrine Biosciences declared that its board has approved a stock buyback program on Friday, February 21st that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to purchase up to 4.2% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's management believes its shares are undervalued.

Insider Transactions at Neurocrine Biosciences

In other Neurocrine Biosciences news, Director William H. Rastetter sold 30,000 shares of the stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $110.20, for a total transaction of $3,306,000.00. Following the completion of the transaction, the director now owns 37,491 shares in the company, valued at $4,131,508.20. This trade represents a 44.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 4.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on NBIX. William Blair reaffirmed an "outperform" rating on shares of Neurocrine Biosciences in a research report on Friday, February 7th. Evercore ISI decreased their price objective on Neurocrine Biosciences from $190.00 to $185.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. Canaccord Genuity Group upped their target price on Neurocrine Biosciences from $158.00 to $160.00 and gave the stock a "buy" rating in a research report on Tuesday, May 6th. StockNews.com downgraded shares of Neurocrine Biosciences from a "strong-buy" rating to a "buy" rating in a research report on Thursday, March 20th. Finally, Piper Sandler restated an "overweight" rating and set a $154.00 price target (down previously from $160.00) on shares of Neurocrine Biosciences in a research note on Tuesday, May 6th. Three equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $162.00.

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.