Sherbrooke Park Advisers LLC Sells 2,389 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Sherbrooke Park Advisers LLC reduced its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 45.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,921 shares of the company's stock after selling 2,389 shares during the quarter. Sherbrooke Park Advisers LLC's holdings in Neurocrine Biosciences were worth $399,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Golden State Wealth Management LLC bought a new position in shares of Neurocrine Biosciences in the fourth quarter worth approximately $25,000. Huntington National Bank lifted its stake in shares of Neurocrine Biosciences by 73.5% during the 4th 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. Brooklyn Investment Group boosted its holdings in Neurocrine Biosciences by 99.1% in the 4th quarter. Brooklyn Investment Group now owns 231 shares of the company's stock worth $32,000 after buying an additional 115 shares during the period. GeoWealth Management LLC increased its stake in Neurocrine Biosciences by 65.4% in the 4th quarter. GeoWealth Management LLC now owns 258 shares of the company's stock worth $35,000 after buying an additional 102 shares in the last quarter. Finally, Lindbrook Capital LLC raised its holdings in Neurocrine Biosciences by 53.5% during the fourth quarter. Lindbrook Capital LLC now owns 373 shares of the company's stock valued at $51,000 after acquiring an additional 130 shares during the period. 92.59% of the stock is owned by institutional investors.

Analyst Ratings Changes

NBIX has been the subject of a number of recent analyst reports. Royal Bank of Canada increased their target price on Neurocrine Biosciences from $137.00 to $145.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 6th. William Blair restated an "outperform" rating on shares of Neurocrine Biosciences in a research note on Friday, February 7th. JPMorgan Chase & Co. increased their price objective on shares of Neurocrine Biosciences from $183.00 to $184.00 and gave the company an "overweight" rating in a report on Wednesday, March 26th. Morgan Stanley reissued an "overweight" rating and issued a $150.00 target price (down previously from $185.00) on shares of Neurocrine Biosciences in a report on Friday, March 7th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Neurocrine Biosciences in a research report on Tuesday, February 11th. They set a "hold" rating and a $138.00 target price for the company. Three investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $162.00.

Insider Buying and Selling

In other news, Director William H. Rastetter sold 30,000 shares of the stock in a transaction on Monday, May 5th. The shares were sold at an average price of $110.20, for a total value of $3,306,000.00. Following the sale, the director now owns 37,491 shares of the company's stock, valued at approximately $4,131,508.20. This represents a 44.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 4.30% of the stock is owned by corporate insiders.

Neurocrine Biosciences Stock Up 0.4%

NBIX traded up $0.47 on Friday, hitting $119.59. The company had a trading volume of 179,957 shares, compared to its average volume of 1,460,233. The business's fifty day simple moving average is $107.93 and its 200 day simple moving average is $121.92. Neurocrine Biosciences, Inc. has a 12-month low of $84.23 and a 12-month high of $157.98. The company has a market cap of $11.83 billion, a PE ratio of 36.35, a PEG ratio of 0.77 and a beta of 0.26.

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). The company had revenue of $572.60 million during the quarter, compared to analysts' expectations 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 for the quarter was up 11.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.20 EPS. On average, analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

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

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.