Price T Rowe Associates Inc. MD Has $203.46 Million Stock Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Price T Rowe Associates Inc. MD cut its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 11.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,490,513 shares of the company's stock after selling 184,663 shares during the quarter. Price T Rowe Associates Inc. MD owned 1.47% of Neurocrine Biosciences worth $203,456,000 as of its most recent SEC filing.

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

Insiders Place Their Bets

In related news, Director Kevin Charles Gorman sold 2,707 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $152.92, for a total value of $413,954.44. Following the transaction, the director now owns 517,030 shares in the company, valued at approximately $79,064,227.60. This represents a 0.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Ingrid Delaet sold 623 shares of Neurocrine Biosciences stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $149.29, for a total transaction of $93,007.67. Following the completion of the sale, the insider now owns 3,442 shares of the company's stock, valued at $513,856.18. This trade represents a 15.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,801 shares of company stock worth $2,834,677. 4.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

NBIX has been the topic of a number of analyst reports. William Blair reaffirmed an "outperform" rating on shares of Neurocrine Biosciences in a research report on Friday, February 7th. HC Wainwright cut their target price on Neurocrine Biosciences from $185.00 to $168.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. StockNews.com cut Neurocrine Biosciences from a "strong-buy" rating to a "buy" rating in a research note on Thursday, March 20th. Morgan Stanley reiterated an "overweight" rating and issued a $150.00 target price (down from $185.00) on shares of Neurocrine Biosciences in a research note on Friday, March 7th. Finally, UBS Group lowered their price target on Neurocrine Biosciences from $154.00 to $137.00 and set a "buy" rating on the stock in a report on Friday, April 4th. Three equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $160.90.

Neurocrine Biosciences Stock Performance

NBIX traded down $1.10 during trading on Thursday, reaching $106.59. The company had a trading volume of 1,004,910 shares, compared to its average volume of 1,070,015. The firm's 50-day simple moving average is $106.56 and its 200 day simple moving average is $121.96. The company has a market cap of $10.55 billion, a price-to-earnings ratio of 32.40, a PEG ratio of 0.77 and a beta of 0.33. Neurocrine Biosciences, Inc. has a 12-month low of $84.23 and a 12-month high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last issued 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 return on equity of 13.38% and a net margin of 14.49%. On average, sell-side analysts expect that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

Neurocrine Biosciences declared that its Board of Directors has approved a stock buyback program on Friday, February 21st that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to reacquire 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.

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.