Lazard Asset Management LLC Sells 15,643 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Lazard Asset Management LLC reduced its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 20.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 59,279 shares of the company's stock after selling 15,643 shares during the quarter. Lazard Asset Management LLC owned 0.06% of Neurocrine Biosciences worth $8,090,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in NBIX. Caprock Group LLC bought a new stake in shares of Neurocrine Biosciences in the fourth quarter worth about $236,000. Charles Schwab Investment Management Inc. boosted its position in Neurocrine Biosciences by 2.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 762,557 shares of the company's stock valued at $104,089,000 after buying an additional 15,266 shares during the period. Oakworth Capital Inc. bought a new position in shares of Neurocrine Biosciences during the 4th quarter worth $379,000. Avantax Advisory Services Inc. increased its holdings in shares of Neurocrine Biosciences by 11.4% in the 4th quarter. Avantax Advisory Services Inc. now owns 2,895 shares of the company's stock valued at $395,000 after acquiring an additional 297 shares during the period. Finally, Synergy Asset Management LLC acquired a new position in Neurocrine Biosciences during the 4th quarter valued at about $996,000. 92.59% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on NBIX. Morgan Stanley reaffirmed an "overweight" rating and issued a $150.00 price target (down from $185.00) on shares of Neurocrine Biosciences in a report on Friday, March 7th. HC Wainwright reduced their target price on Neurocrine Biosciences from $185.00 to $168.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Bank of America lowered their price target on shares of Neurocrine Biosciences from $184.00 to $179.00 and set a "buy" rating on the stock in a research report on Friday, February 7th. StockNews.com lowered shares of Neurocrine Biosciences from a "strong-buy" rating to a "buy" rating in a report on Thursday, March 20th. Finally, JPMorgan Chase & Co. lifted their price objective on Neurocrine Biosciences from $183.00 to $184.00 and gave the company an "overweight" rating in a research note on Wednesday, March 26th. Three 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 has an average rating of "Moderate Buy" and an average target price of $162.00.

Insider Buying and Selling

In other news, Director William H. Rastetter sold 30,000 shares of the company's 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 completion of 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 4.80% of the stock is owned by insiders.

Neurocrine Biosciences Price Performance

Shares of NBIX stock traded up $1.59 on Monday, hitting $122.61. 681,195 shares of the company's stock were exchanged, compared to its average volume of 1,128,137. The stock has a market cap of $12.13 billion, a P/E ratio of 37.27, a price-to-earnings-growth ratio of 0.77 and a beta of 0.26. Neurocrine Biosciences, Inc. has a 12 month low of $84.23 and a 12 month high of $157.98. The company has a 50 day moving average of $107.02 and a 200 day moving average of $121.92.

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 the consensus estimate of $0.70 by ($0.62). The business had revenue of $572.60 million for the quarter, compared to the consensus estimate of $587.06 million. Neurocrine Biosciences had a net margin of 14.49% and a return on equity of 13.38%. The firm's revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.20 EPS. Sell-side analysts predict that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

Neurocrine Biosciences announced that its board has approved a share repurchase program on Friday, February 21st that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 4.2% of its shares through open market purchases. Shares repurchase programs are usually an indication 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.