Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Shares Sold by Rhumbline Advisers

Rhumbline Advisers cut its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 1.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 314,486 shares of the company's stock after selling 5,992 shares during the period. Rhumbline Advisers owned approximately 0.32% of Neurocrine Biosciences worth $34,782,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. OneDigital Investment Advisors LLC increased its holdings in shares of Neurocrine Biosciences by 2.1% during the 4th quarter. OneDigital Investment Advisors LLC now owns 4,215 shares of the company's stock worth $575,000 after buying an additional 87 shares during the last quarter. HighPoint Advisor Group LLC lifted its holdings in shares of Neurocrine Biosciences by 4.1% in the 4th quarter. HighPoint Advisor Group LLC now owns 2,446 shares of the company's stock worth $334,000 after acquiring an additional 96 shares during the last quarter. Huntington National Bank boosted its position in shares of Neurocrine Biosciences by 73.5% during the fourth quarter. Huntington National Bank now owns 229 shares of the company's stock worth $31,000 after buying an additional 97 shares during the period. Louisiana State Employees Retirement System boosted its holdings in Neurocrine Biosciences by 0.4% during the 4th 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 during the period. Finally, Utah Retirement Systems grew its holdings in shares of Neurocrine Biosciences by 0.6% in the fourth quarter. Utah Retirement Systems now owns 16,583 shares of the company's stock valued at $2,264,000 after purchasing an additional 100 shares in the last quarter. Institutional investors and hedge funds own 92.59% of the company's stock.

Neurocrine Biosciences Trading Up 0.6%

Shares of Neurocrine Biosciences stock traded up $0.78 on Friday, hitting $125.39. The stock had a trading volume of 860,428 shares, compared to its average volume of 1,138,207. The company's 50 day moving average price is $110.03 and its 200 day moving average price is $121.90. The stock has a market cap of $12.41 billion, a price-to-earnings ratio of 38.11, a P/E/G ratio of 0.77 and a beta of 0.24. 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 announced its earnings results on Monday, May 5th. The company reported $0.08 EPS for the quarter, missing analysts' consensus estimates of $0.70 by ($0.62). Neurocrine Biosciences had a net margin of 14.49% and a return on equity of 13.38%. The business had revenue of $572.60 million during the quarter, compared to analysts' expectations of $587.06 million. During the same period in the previous year, the company posted $1.20 earnings per share. Neurocrine Biosciences's quarterly revenue was up 11.1% on a year-over-year basis. Analysts predict that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

Neurocrine Biosciences declared that its Board of Directors has initiated a share buyback plan on Friday, February 21st that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 4.2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on NBIX shares. Royal Bank of Canada reaffirmed an "outperform" rating and set a $145.00 price objective on shares of Neurocrine Biosciences in a research report on Monday. Bank of America lowered their target price on Neurocrine Biosciences from $184.00 to $179.00 and set a "buy" rating for the company in a research note on Friday, February 7th. Evercore ISI cut their price target on Neurocrine Biosciences from $190.00 to $185.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th. Needham & Company LLC lifted their price objective on Neurocrine Biosciences from $138.00 to $139.00 and gave the company a "buy" rating in a research note on Tuesday, May 6th. Finally, William Blair restated an "outperform" rating on shares of Neurocrine Biosciences in a research note on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat, Neurocrine Biosciences presently has a consensus rating of "Moderate Buy" and an average target price of $162.00.

Insider Transactions at Neurocrine Biosciences

In related news, Director William H. Rastetter sold 30,000 shares of the stock in a transaction dated Monday, May 5th. The shares were 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 $4,131,508.20. This represents a 44.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Kevin Charles Gorman sold 9,613 shares of the stock in a transaction that occurred 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 trade 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 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.