Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Shares Sold by Ameriprise Financial Inc.

Ameriprise Financial Inc. trimmed its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 16.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 413,479 shares of the company's stock after selling 82,615 shares during the period. Ameriprise Financial Inc. owned approximately 0.41% of Neurocrine Biosciences worth $56,441,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Golden State Wealth Management LLC purchased a new position in Neurocrine Biosciences during the fourth quarter valued at approximately $25,000. Huntington National Bank raised its holdings in Neurocrine Biosciences by 73.5% in 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 boosted its position in Neurocrine Biosciences by 99.1% during the fourth quarter. Brooklyn Investment Group now owns 231 shares of the company's stock worth $32,000 after purchasing an additional 115 shares in the last quarter. GeoWealth Management LLC grew 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 purchasing an additional 102 shares during the period. Finally, Lindbrook Capital LLC increased its position in shares of Neurocrine Biosciences by 53.5% in the fourth quarter. Lindbrook Capital LLC now owns 373 shares of the company's stock valued at $51,000 after buying an additional 130 shares in the last quarter. 92.59% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Needham & Company LLC lifted their price target on shares of Neurocrine Biosciences from $138.00 to $139.00 and gave the company a "buy" rating in a research note on Tuesday, May 6th. UBS Group boosted their target price on shares of Neurocrine Biosciences from $137.00 to $152.00 and gave the stock a "buy" rating in a research note on Tuesday, May 6th. Bank of America decreased 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 note on Friday, February 7th. Morgan Stanley reiterated an "overweight" rating and set a $150.00 price objective (down from $185.00) on shares of Neurocrine Biosciences in a research note on Friday, March 7th. Finally, Canaccord Genuity Group lifted their price target on Neurocrine Biosciences from $158.00 to $160.00 and gave the stock a "buy" rating in a research note on Tuesday, May 6th. Three investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $162.00.

Neurocrine Biosciences Trading Down 1.5 %

Shares of NASDAQ:NBIX opened at $115.71 on Friday. The company has a market capitalization of $11.45 billion, a price-to-earnings ratio of 35.17, a PEG 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 business has a 50-day moving average price of $106.23 and a 200 day moving average price of $121.85.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The company reported $0.08 earnings per share (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 net margin of 14.49% and a return on equity of 13.38%. Neurocrine Biosciences's revenue was up 11.1% on a year-over-year basis. During the same period last year, the firm posted $1.20 earnings per share. As a group, equities research analysts predict that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

Neurocrine Biosciences announced that its board has authorized a share repurchase program on Friday, February 21st that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 4.2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's management believes its shares are undervalued.

Insider Buying and Selling at Neurocrine Biosciences

In other news, Director William H. Rastetter sold 30,000 shares of the firm's stock in a transaction that occurred 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 transaction, the director now owns 37,491 shares of the company's stock, valued at approximately $4,131,508.20. This trade represents a 44.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Julie Cooke sold 700 shares of the company's stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $118.28, for a total transaction of $82,796.00. Following the sale, the insider now directly owns 18,831 shares in the company, valued at approximately $2,227,330.68. The trade was a 3.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 43,907 shares of company stock valued at $4,935,982 over the last quarter. 4.30% of the stock is owned by company insiders.

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.

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