CANADA LIFE ASSURANCE Co Decreases Stock Holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

CANADA LIFE ASSURANCE Co reduced its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 6.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 93,782 shares of the company's stock after selling 6,991 shares during the quarter. CANADA LIFE ASSURANCE Co owned approximately 0.09% of Neurocrine Biosciences worth $12,800,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Golden State Wealth Management LLC bought a new position in shares of Neurocrine Biosciences during the 4th quarter valued at approximately $25,000. Huntington National Bank raised its position in shares of Neurocrine Biosciences by 73.5% during the 4th quarter. Huntington National Bank now owns 229 shares of the company's stock valued at $31,000 after purchasing an additional 97 shares during the period. Brooklyn Investment Group boosted its holdings in Neurocrine Biosciences by 99.1% in the 4th quarter. Brooklyn Investment Group now owns 231 shares of the company's stock worth $32,000 after buying an additional 115 shares during the period. Lindbrook Capital LLC increased its stake 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 buying an additional 130 shares in the last quarter. Finally, R Squared Ltd bought a new stake in Neurocrine Biosciences during the fourth quarter valued at about $61,000. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on NBIX. Canaccord Genuity Group decreased their target price on Neurocrine Biosciences from $172.00 to $163.00 and set a "buy" rating on the stock in a research note on Friday, February 7th. Royal Bank of Canada raised shares of Neurocrine Biosciences from a "sector perform" rating to an "outperform" rating and cut their target price for the company from $138.00 to $137.00 in a research note on Monday, April 14th. StockNews.com downgraded shares of Neurocrine Biosciences from a "strong-buy" rating to a "buy" rating in a report on Thursday, March 20th. Guggenheim decreased their target price on Neurocrine Biosciences from $165.00 to $163.00 and set a "buy" rating on the stock in a research report on Monday, February 10th. Finally, Wedbush reduced their price objective on Neurocrine Biosciences from $157.00 to $147.00 and set an "outperform" rating on the stock in a research note on Friday, February 7th. Three research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $161.14.

Insiders Place Their Bets

In other news, insider Julie Cooke sold 1,740 shares of the stock in a transaction on Friday, January 31st. The stock was sold at an average price of $152.89, for a total transaction of $266,028.60. Following the transaction, the insider now owns 18,202 shares of the company's stock, valued at approximately $2,782,903.78. This represents a 8.73 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kevin Charles Gorman sold 5,844 shares of the firm's stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $116.69, for a total value of $681,936.36. Following the transaction, the director now owns 521,618 shares in the company, valued at approximately $60,867,604.42. This represents a 1.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 167,906 shares of company stock worth $24,671,530 in the last ninety days. 4.30% of the stock is owned by company insiders.

Neurocrine Biosciences Trading Up 0.9 %

Shares of NASDAQ NBIX traded up $0.97 during mid-day trading on Friday, reaching $106.73. The company had a trading volume of 1,328,294 shares, compared to its average volume of 1,066,883. The stock has a market cap of $10.56 billion, a price-to-earnings ratio of 32.44, a price-to-earnings-growth 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. The business's 50-day moving average is $107.16 and its 200-day moving average is $122.08.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last issued its earnings results on Thursday, February 6th. The company reported $1.00 EPS 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 forecast that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.

Neurocrine Biosciences declared that its Board of Directors has initiated a stock buyback plan on Friday, February 21st that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 4.2% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's leadership 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.