BI Asset Management Fondsmaeglerselskab A S Decreases Stock Holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

BI Asset Management Fondsmaeglerselskab A S lessened its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 28.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,322 shares of the company's stock after selling 4,923 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Neurocrine Biosciences were worth $1,682,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of NBIX. Golden State Wealth Management LLC purchased a new position in Neurocrine Biosciences in the 4th quarter worth approximately $25,000. Huntington National Bank increased its stake in shares of Neurocrine Biosciences by 73.5% in the fourth quarter. Huntington National Bank now owns 229 shares of the company's stock worth $31,000 after buying an additional 97 shares during the period. Brooklyn Investment Group raised its holdings in Neurocrine Biosciences by 99.1% during the 4th quarter. Brooklyn Investment Group now owns 231 shares of the company's stock valued at $32,000 after buying an additional 115 shares during the last quarter. GeoWealth Management LLC boosted its position in Neurocrine Biosciences by 65.4% during the 4th quarter. GeoWealth Management LLC now owns 258 shares of the company's stock valued at $35,000 after buying an additional 102 shares during the period. Finally, Lindbrook Capital LLC grew its holdings in Neurocrine Biosciences by 53.5% in the 4th quarter. Lindbrook Capital LLC now owns 373 shares of the company's stock worth $51,000 after acquiring an additional 130 shares during the last quarter. Institutional investors own 92.59% of the company's stock.

Insider Transactions at Neurocrine Biosciences

In other news, insider Ingrid Delaet sold 623 shares of Neurocrine Biosciences stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $149.29, for a total value of $93,007.67. Following the completion of the transaction, the insider now owns 3,442 shares of the company's stock, valued at $513,856.18. The trade was a 15.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Matt Abernethy sold 2,558 shares of the business's stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $116.86, for a total value of $298,927.88. Following the completion of the transaction, the chief financial officer now directly owns 34,775 shares of the company's stock, valued at approximately $4,063,806.50. This trade represents a 6.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 167,906 shares of company stock valued at $24,671,530 in the last quarter. 4.30% of the stock is owned by insiders.

Neurocrine Biosciences Stock Up 0.9 %

Shares of NASDAQ:NBIX traded up $0.97 on Friday, hitting $106.73. 1,328,294 shares of the company traded hands, compared to its average volume of 1,068,286. The stock has a 50 day simple moving average of $107.16 and a 200-day simple moving average of $122.22. The company has a market cap of $10.56 billion, a PE ratio of 32.44, a PEG ratio of 0.77 and a beta of 0.33. Neurocrine Biosciences, Inc. has a 52 week low of $84.23 and a 52 week high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The company reported $1.00 earnings per share (EPS) for the quarter, missing the consensus estimate 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, sell-side analysts anticipate 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 buyback program on Friday, February 21st that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to reacquire up to 4.2% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. UBS Group dropped their target price on shares of Neurocrine Biosciences from $154.00 to $137.00 and set a "buy" rating for the company in a report on Friday, April 4th. Evercore ISI dropped 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. JPMorgan Chase & Co. boosted their target price on Neurocrine Biosciences from $183.00 to $184.00 and gave the company an "overweight" rating in a research note on Wednesday, March 26th. Morgan Stanley reaffirmed an "overweight" rating and issued a $150.00 price target (down previously from $185.00) on shares of Neurocrine Biosciences in a research note on Friday, March 7th. Finally, StockNews.com downgraded shares of Neurocrine Biosciences from a "strong-buy" rating to a "buy" rating in a research report on Thursday, March 20th. Three equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Neurocrine Biosciences presently has an average rating of "Moderate Buy" and a consensus price target of $161.14.

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.