BNP Paribas Financial Markets Sells 243,484 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

BNP Paribas Financial Markets reduced its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 45.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 289,840 shares of the company's stock after selling 243,484 shares during the period. BNP Paribas Financial Markets owned approximately 0.29% of Neurocrine Biosciences worth $39,563,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. OneDigital Investment Advisors LLC grew its position in Neurocrine Biosciences by 2.1% during the 4th quarter. OneDigital Investment Advisors LLC now owns 4,215 shares of the company's stock valued at $575,000 after purchasing an additional 87 shares during the last quarter. HighPoint Advisor Group LLC lifted its stake in shares of 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 buying an additional 96 shares in the last quarter. Huntington National Bank grew its holdings in shares of Neurocrine Biosciences by 73.5% during the fourth quarter. Huntington National Bank now owns 229 shares of the company's stock valued at $31,000 after buying an additional 97 shares during the last quarter. Louisiana State Employees Retirement System increased its position 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 acquiring an additional 100 shares in the last quarter. Finally, Utah Retirement Systems raised its holdings in Neurocrine Biosciences by 0.6% in the 4th quarter. Utah Retirement Systems now owns 16,583 shares of the company's stock worth $2,264,000 after acquiring an additional 100 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors.

Neurocrine Biosciences Price Performance

Shares of NBIX stock traded down $3.05 during trading hours on Tuesday, reaching $117.38. 366,520 shares of the company traded hands, compared to its average volume of 1,114,970. The firm has a 50-day moving average price of $106.36 and a 200 day moving average price of $121.93. The company has a market cap of $11.62 billion, a P/E ratio of 35.68, a P/E/G ratio of 0.77 and a beta of 0.26. Neurocrine Biosciences, Inc. has a 12-month low of $84.23 and a 12-month high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last issued 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 firm had revenue of $572.60 million for the quarter, compared to analysts' expectations of $587.06 million. Neurocrine Biosciences had a net margin of 14.49% and a return on equity of 13.38%. Neurocrine Biosciences's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.20 EPS. Sell-side analysts predict that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

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

Insider Activity at Neurocrine Biosciences

In related news, Director William H. Rastetter sold 30,000 shares of Neurocrine Biosciences stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $110.20, for a total transaction of $3,306,000.00. Following the sale, the director now owns 37,491 shares of the company's stock, valued at approximately $4,131,508.20. This trade represents a 44.45% 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, CFO Matt Abernethy sold 2,558 shares of the company's stock in a transaction that occurred on 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 owns 34,775 shares of the company's stock, valued at $4,063,806.50. The trade was a 6.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 39,953 shares of company stock worth $4,467,990. 4.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on NBIX shares. UBS Group increased their target price on Neurocrine Biosciences from $137.00 to $152.00 and gave the company a "buy" rating in a research note on Tuesday, May 6th. Evercore ISI dropped their price objective on Neurocrine Biosciences from $190.00 to $185.00 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. Canaccord Genuity Group boosted 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. JPMorgan Chase & Co. upped their target price on shares of Neurocrine Biosciences from $183.00 to $184.00 and gave the company an "overweight" rating in a research note on Wednesday, March 26th. Finally, Bank of America reduced their price target on shares of Neurocrine Biosciences from $184.00 to $179.00 and set a "buy" rating for the company in a research note on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $162.00.

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.