Parkman Healthcare Partners LLC Sells 14,113 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Parkman Healthcare Partners LLC lowered its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 10.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 115,727 shares of the company's stock after selling 14,113 shares during the period. Neurocrine Biosciences accounts for approximately 2.1% of Parkman Healthcare Partners LLC's portfolio, making the stock its 15th largest holding. Parkman Healthcare Partners LLC owned 0.11% of Neurocrine Biosciences worth $15,797,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Golden State Wealth Management LLC purchased a new stake in shares of Neurocrine Biosciences in the fourth quarter worth $25,000. Huntington National Bank raised its position in shares of Neurocrine Biosciences by 73.5% in the fourth quarter. Huntington National Bank now owns 229 shares of the company's stock worth $31,000 after buying an additional 97 shares in the last quarter. Brooklyn Investment Group raised its position in shares of Neurocrine Biosciences by 99.1% in the fourth quarter. Brooklyn Investment Group now owns 231 shares of the company's stock worth $32,000 after buying an additional 115 shares in the last quarter. GeoWealth Management LLC raised its position in shares of Neurocrine Biosciences by 65.4% in the fourth 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 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 worth $51,000 after buying an additional 130 shares in the last quarter. Hedge funds and other institutional investors own 92.59% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on NBIX. Deutsche Bank Aktiengesellschaft began coverage on Neurocrine Biosciences in a research report on Tuesday, February 11th. They issued a "hold" rating and a $138.00 price objective on the stock. Needham & Company LLC increased their target price on Neurocrine Biosciences from $138.00 to $139.00 and gave the company a "buy" rating in a research note on Tuesday, May 6th. 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 research note on Friday, March 7th. Bank of America reduced their target price on Neurocrine Biosciences from $184.00 to $179.00 and set a "buy" rating on the stock in a research note on Friday, February 7th. Finally, Canaccord Genuity Group increased their target price on Neurocrine Biosciences from $158.00 to $160.00 and gave the company a "buy" rating in a research note on Tuesday, May 6th. Three research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $162.00.

Neurocrine Biosciences Stock Performance

Shares of NASDAQ NBIX traded up $1.20 during trading hours on Monday, hitting $122.22. The company's stock had a trading volume of 324,777 shares, compared to its average volume of 1,480,153. The stock has a market cap of $12.10 billion, a price-to-earnings ratio of 37.15, a P/E/G 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 simple moving average of $107.02 and a 200-day simple moving average of $121.92.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.62). Neurocrine Biosciences had a return on equity of 13.38% and a net margin of 14.49%. The company had revenue of $572.60 million during the quarter, compared to analysts' expectations of $587.06 million. During the same quarter last year, the business earned $1.20 earnings per share. The business's quarterly revenue was up 11.1% on a year-over-year basis. On average, equities research analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

Neurocrine Biosciences announced that its Board of Directors has authorized a share repurchase plan on Friday, February 21st that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to purchase up to 4.2% of its stock through open market purchases. Stock buyback plans are often an indication that the company's management believes its shares are undervalued.

Insiders Place Their Bets

In other news, Director William H. Rastetter sold 30,000 shares of Neurocrine Biosciences stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $110.20, for a total transaction of $3,306,000.00. Following the completion of the transaction, the director now directly owns 37,491 shares in the company, 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 Securities & Exchange Commission, which is accessible through the SEC website. 4.80% of the stock is currently owned by company insiders.

Neurocrine Biosciences Company 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.