Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Shares Sold by Mackenzie Financial Corp

Mackenzie Financial Corp decreased its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 36.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 55,221 shares of the company's stock after selling 31,362 shares during the quarter. Mackenzie Financial Corp owned 0.06% of Neurocrine Biosciences worth $7,538,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Caprock Group LLC purchased a new position in Neurocrine Biosciences during the 4th quarter worth approximately $236,000. Charles Schwab Investment Management Inc. grew its position in Neurocrine Biosciences by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 762,557 shares of the company's stock worth $104,089,000 after purchasing an additional 15,266 shares in the last quarter. Oakworth Capital Inc. purchased a new position in Neurocrine Biosciences during the 4th quarter worth approximately $379,000. Avantax Advisory Services Inc. grew its position in Neurocrine Biosciences by 11.4% during the 4th quarter. Avantax Advisory Services Inc. now owns 2,895 shares of the company's stock worth $395,000 after purchasing an additional 297 shares in the last quarter. Finally, Synergy Asset Management LLC purchased a new position in Neurocrine Biosciences during the 4th quarter worth approximately $996,000. Institutional investors and hedge funds own 92.59% of the company's stock.

Insider Transactions at Neurocrine Biosciences

In related news, Director William H. Rastetter sold 30,000 shares of Neurocrine Biosciences stock in a transaction 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 completion of the transaction, the director now directly owns 37,491 shares of the company's stock, valued at approximately $4,131,508.20. The trade was a 44.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Kevin Charles Gorman sold 9,613 shares of Neurocrine Biosciences stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $120.38, for a total value of $1,157,212.94. Following the transaction, the director now directly owns 514,596 shares of the company's stock, valued at approximately $61,947,066.48. This represents a 1.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 4.80% of the company's stock.

Neurocrine Biosciences Trading Down 0.8%

Shares of NBIX stock traded down $0.95 during trading hours on Friday, reaching $122.71. 1,827,832 shares of the company's stock were exchanged, compared to its average volume of 1,138,771. Neurocrine Biosciences, Inc. has a 1 year low of $84.23 and a 1 year high of $157.98. The stock has a market cap of $12.14 billion, a PE ratio of 37.30, a PEG ratio of 0.77 and a beta of 0.26. The stock's fifty day moving average price is $109.10 and its two-hundred day moving average price is $121.76.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last announced its 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). Neurocrine Biosciences had a return on equity of 13.38% and a net margin of 14.49%. The business had revenue of $572.60 million for the quarter, compared to analyst estimates of $587.06 million. During the same period in the previous year, the company earned $1.20 earnings per share. The company's quarterly revenue was up 11.1% compared to the same quarter last year. On average, equities analysts expect that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

Neurocrine Biosciences announced that its board has initiated a share buyback plan on Friday, February 21st that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to reacquire up to 4.2% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's management believes its shares are undervalued.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on NBIX shares. Wall Street Zen lowered shares of Neurocrine Biosciences from a "strong-buy" rating to a "buy" rating in a research note on Thursday, March 20th. Guggenheim lifted their price objective on shares of Neurocrine Biosciences from $155.00 to $165.00 and gave the company a "buy" rating in a research note on Tuesday, May 6th. UBS Group lifted their price objective on shares of Neurocrine Biosciences from $137.00 to $152.00 and gave the company a "buy" rating in a research note on Tuesday, May 6th. William Blair reaffirmed an "outperform" rating on shares of Neurocrine Biosciences in a research note on Friday, February 7th. Finally, Royal Bank of Canada lifted their price objective on shares of Neurocrine Biosciences from $137.00 to $145.00 and gave the company an "outperform" rating in a research note on Tuesday, May 6th. Three equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $162.00.

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.