ProShare Advisors LLC Sells 11,206 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

ProShare Advisors LLC cut its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 54.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,532 shares of the company's stock after selling 11,206 shares during the quarter. ProShare Advisors LLC's holdings in Neurocrine Biosciences were worth $1,301,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Golden State Wealth Management LLC acquired a new stake in Neurocrine Biosciences in the fourth quarter valued at about $25,000. Huntington National Bank boosted its stake in Neurocrine Biosciences by 73.5% in 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 in the last quarter. GeoWealth Management LLC boosted 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 in the last quarter. Lindbrook Capital LLC boosted 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 in the last quarter. Finally, R Squared Ltd bought a new position in Neurocrine Biosciences in the fourth quarter valued at about $61,000. 92.59% of the stock is owned by institutional investors and hedge funds.

Neurocrine Biosciences Trading Up 0.9%

NBIX stock traded up $1.06 during mid-day trading on Friday, reaching $120.18. The company's stock had a trading volume of 882,158 shares, compared to its average volume of 1,136,268. The company has a market cap of $11.89 billion, a price-to-earnings ratio of 36.53, a price-to-earnings-growth ratio of 0.77 and a beta of 0.26. The business's 50 day moving average price is $108.14 and its 200 day moving average price is $121.91. 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 earnings results on Monday, May 5th. The company reported $0.08 earnings per share for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $587.06 million. During the same quarter in the previous year, the firm posted $1.20 earnings per share. The company's revenue for the quarter was up 11.1% compared to the same quarter last year. As a group, equities analysts expect that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

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

Insider Buying and Selling at Neurocrine Biosciences

In other Neurocrine Biosciences news, Director William H. Rastetter sold 30,000 shares of the firm's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $110.20, for a total value of $3,306,000.00. Following the completion of 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 4.30% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on NBIX. Wedbush reiterated an "outperform" rating on shares of Neurocrine Biosciences in a research report on Tuesday, May 6th. Wall Street Zen downgraded Neurocrine Biosciences from a "strong-buy" rating to a "buy" rating in a research report on Thursday, March 20th. Guggenheim increased their target price on Neurocrine Biosciences from $155.00 to $165.00 and gave the company a "buy" rating in a research report on Tuesday, May 6th. Royal Bank of Canada increased their target price on Neurocrine Biosciences from $137.00 to $145.00 and gave the company an "outperform" rating in a research report on Tuesday, May 6th. Finally, 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 report on Tuesday, May 6th. Three equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target 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.