Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Shares Sold by Rock Springs Capital Management LP

Rock Springs Capital Management LP trimmed its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 23.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 720,500 shares of the company's stock after selling 218,500 shares during the quarter. Neurocrine Biosciences accounts for about 3.7% of Rock Springs Capital Management LP's portfolio, making the stock its 4th largest position. Rock Springs Capital Management LP owned approximately 0.71% of Neurocrine Biosciences worth $98,348,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Golden State Wealth Management LLC purchased a new stake in Neurocrine Biosciences in the fourth quarter valued at approximately $25,000. Huntington National Bank grew its position in 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 purchasing an additional 97 shares during the period. Brooklyn Investment Group raised its stake in shares of Neurocrine Biosciences by 99.1% during the 4th quarter. Brooklyn Investment Group now owns 231 shares of the company's stock valued at $32,000 after buying an additional 115 shares during the last quarter. GeoWealth Management LLC lifted its holdings in Neurocrine Biosciences by 65.4% in the fourth quarter. GeoWealth Management LLC now owns 258 shares of the company's stock valued at $35,000 after acquiring an additional 102 shares during the period. Finally, Lindbrook Capital LLC grew its stake in shares of Neurocrine Biosciences by 53.5% during the 4th quarter. Lindbrook Capital LLC now owns 373 shares of the company's stock worth $51,000 after purchasing an additional 130 shares during the period. Institutional investors and hedge funds own 92.59% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on NBIX shares. Guggenheim cut their price objective on shares of Neurocrine Biosciences from $165.00 to $163.00 and set a "buy" rating for the company in a report on Monday, February 10th. Royal Bank of Canada raised shares of Neurocrine Biosciences from a "sector perform" rating to an "outperform" rating and cut their price target for the stock from $138.00 to $137.00 in a report on Monday, April 14th. Bank of America reduced their target price on Neurocrine Biosciences from $184.00 to $179.00 and set a "buy" rating for the company in a report on Friday, February 7th. Morgan Stanley restated an "overweight" rating and set a $150.00 price target (down from $185.00) on shares of Neurocrine Biosciences in a research report on Friday, March 7th. Finally, Canaccord Genuity Group dropped their target price on Neurocrine Biosciences from $172.00 to $163.00 and set a "buy" rating for the company in a report on Friday, February 7th. 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 an average target price of $161.14.

Neurocrine Biosciences Stock Up 0.9 %

NASDAQ NBIX traded up $0.97 on Friday, hitting $106.73. 1,328,294 shares of the stock were exchanged, compared to its average volume of 1,066,883. Neurocrine Biosciences, Inc. has a fifty-two week low of $84.23 and a fifty-two week high of $157.98. The company has a 50-day moving average price of $107.16 and a 200-day moving average price of $122.08. The company has a market cap of $10.56 billion, a PE ratio of 32.44, a PEG ratio of 0.77 and a beta of 0.33.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The company reported $1.00 earnings per share for the quarter, missing analysts' consensus estimates 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, equities research 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 approved a share buyback program on Friday, February 21st that permits the company to buyback $500.00 million in shares. This buyback authorization permits 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 board believes its shares are undervalued.

Insider Activity at Neurocrine Biosciences

In related news, insider Julie Cooke sold 1,551 shares of the firm's stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $116.78, for a total transaction of $181,125.78. Following the transaction, the insider now owns 19,544 shares of the company's stock, valued at $2,282,348.32. This trade represents a 7.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Kevin Charles Gorman sold 146,105 shares of the company's stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $149.46, for a total value of $21,836,853.30. Following the sale, the director now owns 514,596 shares of the company's stock, valued at $76,911,518.16. This trade represents a 22.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 167,906 shares of company stock valued at $24,671,530 over the last three months. 4.30% of the stock is owned by corporate insiders.

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.