Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Shares Sold by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board cut its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 32.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 34,100 shares of the company's stock after selling 16,700 shares during the quarter. Canada Pension Plan Investment Board's holdings in Neurocrine Biosciences were worth $4,655,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Virtu Financial LLC purchased a new position in shares of Neurocrine Biosciences in the third quarter worth about $1,985,000. Wilmington Savings Fund Society FSB bought a new stake in Neurocrine Biosciences in the 3rd quarter worth about $384,000. Tidal Investments LLC increased its holdings in Neurocrine Biosciences by 52.8% in the 3rd quarter. Tidal Investments LLC now owns 15,043 shares of the company's stock worth $1,733,000 after buying an additional 5,197 shares in the last quarter. Tri Ri Asset Management Corp bought a new stake in shares of Neurocrine Biosciences during the 3rd quarter valued at about $3,236,000. Finally, GAMMA Investing LLC lifted its position in shares of Neurocrine Biosciences by 32.0% during the 4th quarter. GAMMA Investing LLC now owns 2,295 shares of the company's stock valued at $313,000 after buying an additional 557 shares in the last quarter. Institutional investors own 92.59% of the company's stock.

Neurocrine Biosciences Price Performance

Shares of NASDAQ:NBIX traded down $0.27 during mid-day trading on Monday, reaching $106.46. 1,031,828 shares of the company traded hands, compared to its average volume of 1,068,141. The company's 50 day moving average price is $107.00 and its 200-day moving average price is $122.16. The firm has a market cap of $10.53 billion, a PE ratio of 32.36, 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 released its quarterly earnings results on Thursday, February 6th. The company reported $1.00 earnings per share for the quarter, missing the consensus estimate of $1.62 by ($0.62). Neurocrine Biosciences had a net margin of 14.49% and a return on equity of 13.38%. On average, research analysts predict that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

Neurocrine Biosciences announced that its board has authorized a share buyback plan on Friday, February 21st that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 4.2% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other news, Director Kevin Charles Gorman sold 5,844 shares of the business's stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $116.69, for a total transaction of $681,936.36. Following the transaction, the director now directly owns 521,618 shares in the company, valued at $60,867,604.42. The trade was a 1.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Kyle Gano sold 1,541 shares of the business's stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $152.87, for a total value of $235,572.67. Following the completion of the sale, the chief executive officer now directly owns 136,778 shares in the company, valued at approximately $20,909,252.86. The trade was a 1.11 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,801 shares of company stock valued at $2,834,677. Insiders own 4.30% of the company's stock.

Analysts Set New Price Targets

Several research firms recently commented on NBIX. William Blair reaffirmed an "outperform" rating on shares of Neurocrine Biosciences in a research note on Friday, February 7th. Evercore ISI cut their target price on shares of Neurocrine Biosciences from $190.00 to $185.00 and set an "outperform" rating for the company in a research note on Thursday. JPMorgan Chase & Co. raised their target price on shares of Neurocrine Biosciences from $183.00 to $184.00 and gave the stock an "overweight" rating in a research note on Wednesday, March 26th. Canaccord Genuity Group dropped their price target on shares of Neurocrine Biosciences from $163.00 to $158.00 and set a "buy" rating for the company in a research note on Monday. Finally, Guggenheim dropped their price objective on Neurocrine Biosciences from $165.00 to $163.00 and set a "buy" rating on the stock in a report on Monday, February 10th. Three investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $160.90.

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.