First Trust Advisors LP Sells 149,669 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

First Trust Advisors LP lessened its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 27.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 394,652 shares of the company's stock after selling 149,669 shares during the quarter. First Trust Advisors LP owned 0.39% of Neurocrine Biosciences worth $53,870,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Dodge & Cox lifted its stake in Neurocrine Biosciences by 134.2% in the 4th quarter. Dodge & Cox now owns 3,016,425 shares of the company's stock valued at $411,742,000 after purchasing an additional 1,728,605 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Neurocrine Biosciences in the fourth quarter valued at approximately $115,193,000. Wellington Management Group LLP increased its stake in shares of Neurocrine Biosciences by 102.9% in the fourth quarter. Wellington Management Group LLP now owns 1,457,425 shares of the company's stock valued at $198,939,000 after buying an additional 739,199 shares during the period. Thrivent Financial for Lutherans raised its holdings in Neurocrine Biosciences by 2,759.4% in the 4th quarter. Thrivent Financial for Lutherans now owns 737,772 shares of the company's stock valued at $100,705,000 after buying an additional 711,970 shares during the last quarter. Finally, Jennison Associates LLC boosted its position in Neurocrine Biosciences by 145.1% during the 4th quarter. Jennison Associates LLC now owns 820,694 shares of the company's stock worth $112,025,000 after buying an additional 485,894 shares during the period. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Neurocrine Biosciences Stock Performance

Shares of Neurocrine Biosciences stock traded down $0.39 during trading hours on Monday, reaching $106.34. The company's stock had a trading volume of 165,577 shares, compared to its average volume of 1,064,766. The stock's fifty day simple moving average is $107.16 and its two-hundred day simple moving average is $122.22. The company has a market capitalization of $10.52 billion, a P/E ratio of 32.30, a P/E/G ratio of 0.77 and a beta of 0.33. Neurocrine Biosciences, Inc. has a one year low of $84.23 and a one year high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The company reported $1.00 earnings per share for the quarter, missing the consensus estimate of $1.62 by ($0.62). Neurocrine Biosciences had a net margin of 14.49% and a return on equity of 13.38%. As a group, research analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.

Neurocrine Biosciences announced that its Board of Directors has initiated a stock buyback program on Friday, February 21st that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to buy up to 4.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

Insider Activity at Neurocrine Biosciences

In other Neurocrine Biosciences news, Director Kevin Charles Gorman sold 5,844 shares of the stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $116.69, for a total value of $681,936.36. Following the completion of the sale, the director now owns 521,618 shares in the company, valued at approximately $60,867,604.42. This trade represents a 1.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Ingrid Delaet sold 623 shares of the business's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $149.29, for a total value of $93,007.67. Following the completion of the transaction, the insider now directly owns 3,442 shares in the company, valued at approximately $513,856.18. This represents a 15.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 21,801 shares of company stock valued at $2,834,677 over the last 90 days. Insiders own 4.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on NBIX shares. StockNews.com downgraded shares of Neurocrine Biosciences from a "strong-buy" rating to a "buy" rating in a research note on Thursday, March 20th. Deutsche Bank Aktiengesellschaft started 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. William Blair restated an "outperform" rating on shares of Neurocrine Biosciences in a research report on Friday, February 7th. Evercore ISI decreased their price objective on shares of Neurocrine Biosciences from $190.00 to $185.00 and set an "outperform" rating for the company in a research report on Thursday. Finally, HC Wainwright dropped their target price on shares of Neurocrine Biosciences from $185.00 to $168.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Three investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat, Neurocrine Biosciences currently has an average rating of "Moderate Buy" and an average price target of $160.90.

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.