Great Lakes Advisors LLC Sells 5,832 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Great Lakes Advisors LLC trimmed its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 56.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,575 shares of the company’s stock after selling 5,832 shares during the quarter. Great Lakes Advisors LLC’s holdings in Neurocrine Biosciences were worth $624,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the business. Golden State Wealth Management LLC purchased a new position in Neurocrine Biosciences during the fourth quarter valued at $25,000. Brooklyn Investment Group increased its holdings in shares of Neurocrine Biosciences by 99.1% during the fourth quarter. Brooklyn Investment Group now owns 231 shares of the company’s stock valued at $32,000 after acquiring an additional 115 shares in the last quarter. Lindbrook Capital LLC raised its position in shares of Neurocrine Biosciences by 53.5% in 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 last quarter. R Squared Ltd bought a new position in Neurocrine Biosciences in the 4th quarter worth about $61,000. Finally, UMB Bank n.a. grew its position in Neurocrine Biosciences by 211.6% during the 4th quarter. UMB Bank n.a. now owns 455 shares of the company’s stock valued at $62,000 after purchasing an additional 309 shares during the last quarter. 92.59% of the stock is owned by hedge funds and other institutional investors.

Neurocrine Biosciences Price Performance

NBIX stock opened at $110.75 on Monday. Neurocrine Biosciences, Inc. has a 1 year low of $105.18 and a 1 year high of $157.98. The firm has a market capitalization of $11.04 billion, a PE ratio of 33.66, a price-to-earnings-growth ratio of 0.77 and a beta of 0.35. The business has a 50 day simple moving average of $129.69 and a 200-day simple moving average of $125.71.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings results on Thursday, February 6th. The company reported $1.00 EPS for the quarter, missing the consensus estimate 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, equities research analysts expect that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

Neurocrine Biosciences announced that its board has initiated a share repurchase plan 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 plans are generally a sign that the company’s board believes its shares are undervalued.

Insider Activity

In related news, CFO Matt Abernethy sold 1,283 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $152.87, for a total value of $196,132.21. Following the completion of the transaction, the chief financial officer now directly owns 32,681 shares in the company, valued at approximately $4,995,944.47. This represents a 3.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Ingrid Delaet sold 272 shares of Neurocrine Biosciences stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $138.10, for a total value of $37,563.20. Following the completion of the sale, the insider now owns 2,507 shares in the company, valued at $346,216.70. This represents a 9.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 234,269 shares of company stock valued at $34,053,879 in the last 90 days. Company insiders own 4.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on NBIX shares. Needham & Company LLC restated a “hold” rating on shares of Neurocrine Biosciences in a research note on Friday, February 7th. Canaccord Genuity Group decreased their target price on Neurocrine Biosciences from $172.00 to $163.00 and set a “buy” rating for the company in a research report on Friday, February 7th. UBS Group raised their price target on shares of Neurocrine Biosciences from $162.00 to $176.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Royal Bank of Canada lowered their price objective on shares of Neurocrine Biosciences from $154.00 to $148.00 and set a “sector perform” rating on the stock in a research report on Friday, February 7th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $150.00 target price (down previously from $185.00) on shares of Neurocrine Biosciences in a research report on Friday, March 7th. Five equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Neurocrine Biosciences presently has an average rating of “Moderate Buy” and an average target price of $165.24.

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.