Rhumbline Advisers Trims Stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

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

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. OneDigital Investment Advisors LLC increased its stake in Neurocrine Biosciences by 2.1% in the fourth quarter. OneDigital Investment Advisors LLC now owns 4,215 shares of the company's stock worth $575,000 after purchasing an additional 87 shares during the period. HighPoint Advisor Group LLC grew its position in shares of Neurocrine Biosciences by 4.1% during the 4th quarter. HighPoint Advisor Group LLC now owns 2,446 shares of the company's stock worth $334,000 after buying an additional 96 shares in the last quarter. Huntington National Bank grew 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 worth $31,000 after buying an additional 97 shares in the last quarter. Louisiana State Employees Retirement System grew its position in shares of Neurocrine Biosciences by 0.4% during the 4th quarter. Louisiana State Employees Retirement System now owns 28,100 shares of the company's stock worth $3,836,000 after buying an additional 100 shares in the last quarter. Finally, Utah Retirement Systems grew its position in shares of Neurocrine Biosciences by 0.6% during the 4th quarter. Utah Retirement Systems now owns 16,583 shares of the company's stock worth $2,264,000 after buying an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 92.59% of the company's stock.

Neurocrine Biosciences Price Performance

NASDAQ NBIX traded up $0.78 during trading on Friday, hitting $125.39. The company's stock had a trading volume of 860,428 shares, compared to its average volume of 1,141,772. The company has a market cap of $12.41 billion, a PE ratio of 38.11, a P/E/G ratio of 0.77 and a beta of 0.24. The business's 50 day simple moving average is $110.40 and its 200-day simple moving average is $121.93. Neurocrine Biosciences, Inc. has a fifty-two week low of $84.23 and a fifty-two week high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last issued its quarterly 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). The business had revenue of $572.60 million during the quarter, compared to analyst estimates of $587.06 million. Neurocrine Biosciences had a return on equity of 13.38% and a net margin of 14.49%. Neurocrine Biosciences's revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.20 EPS. Analysts expect 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 stock repurchase program on Friday, February 21st that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to repurchase up to 4.2% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on NBIX. Canaccord Genuity Group increased their price target on Neurocrine Biosciences from $158.00 to $160.00 and gave the stock a "buy" rating 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. Wedbush reissued an "outperform" rating on shares of Neurocrine Biosciences in a research report on Tuesday, May 6th. HC Wainwright dropped their price target on Neurocrine Biosciences from $185.00 to $168.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $145.00 price target on shares of Neurocrine Biosciences in a research report on Monday, June 2nd. Three analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $162.00.

Insiders Place Their Bets

In other news, Director William H. Rastetter sold 30,000 shares of the firm's stock in a transaction dated 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 transaction, the director now directly owns 37,491 shares in the company, valued at $4,131,508.20. This trade represents a 44.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kevin Charles Gorman sold 9,613 shares of the firm's stock in a transaction dated 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 completion of the transaction, the director now owns 514,596 shares of the company's stock, valued at approximately $61,947,066.48. The trade was a 1.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 4.80% of the company's stock.

Neurocrine Biosciences 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.