BNP Paribas Financial Markets Has $39.56 Million Stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

BNP Paribas Financial Markets cut its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 45.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 289,840 shares of the company's stock after selling 243,484 shares during the quarter. BNP Paribas Financial Markets owned about 0.29% of Neurocrine Biosciences worth $39,563,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Golden State Wealth Management LLC acquired a new stake in Neurocrine Biosciences during the 4th quarter worth about $25,000. Huntington National Bank grew its stake in Neurocrine Biosciences by 73.5% during the fourth quarter. Huntington National Bank now owns 229 shares of the company's stock worth $31,000 after purchasing an additional 97 shares during the period. Brooklyn Investment Group increased its holdings in Neurocrine Biosciences by 99.1% in the fourth 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. GeoWealth Management LLC lifted its stake in Neurocrine Biosciences by 65.4% in the fourth 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 lifted its stake in Neurocrine Biosciences by 53.5% in the fourth quarter. Lindbrook Capital LLC now owns 373 shares of the company's stock valued at $51,000 after buying an additional 130 shares during the period. Institutional investors own 92.59% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Morgan Stanley reiterated an "overweight" rating and set a $150.00 target price (down previously from $185.00) on shares of Neurocrine Biosciences in a research report on Friday, March 7th. William Blair reiterated an "outperform" rating on shares of Neurocrine Biosciences in a report on Friday, February 7th. BMO Capital Markets raised their target price on Neurocrine Biosciences from $96.00 to $115.00 and gave the company a "market perform" rating in a research note on Tuesday. StockNews.com downgraded Neurocrine Biosciences from a "strong-buy" rating to a "buy" rating in a research note on Thursday, March 20th. Finally, Canaccord Genuity Group raised their price objective on Neurocrine Biosciences from $158.00 to $160.00 and gave the company a "buy" rating in a research note on Tuesday. Three equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $162.00.

Neurocrine Biosciences Stock Performance

Shares of NBIX stock opened at $121.54 on Thursday. The firm has a market cap of $12.02 billion, a price-to-earnings ratio of 36.94, a P/E/G ratio of 0.77 and a beta of 0.26. Neurocrine Biosciences, Inc. has a 52 week low of $84.23 and a 52 week high of $157.98. The firm's 50-day simple moving average is $106.12 and its two-hundred day simple moving average is $121.80.

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

Neurocrine Biosciences announced that its Board of Directors has initiated a share repurchase program on Friday, February 21st that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 4.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its stock is undervalued.

Insider Buying and Selling

In related news, CEO Kyle Gano sold 980 shares of the firm's stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $118.39, for a total value of $116,022.20. Following the completion of the transaction, the chief executive officer now directly owns 137,658 shares of the company's stock, valued at approximately $16,297,330.62. This trade represents a 0.71 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Julie Cooke sold 700 shares of the business's stock in a transaction on Monday, February 10th. The shares were sold at an average price of $118.28, for a total transaction of $82,796.00. Following the sale, the insider now directly owns 18,831 shares in the company, valued at $2,227,330.68. The trade was a 3.58 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 43,907 shares of company stock valued at $4,935,982. 4.30% of the stock is owned by insiders.

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.

Want to see what other hedge funds are holding NBIX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.