Alliancebernstein L.P. Sells 59,298 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Alliancebernstein L.P. lowered its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 9.3% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 577,616 shares of the company's stock after selling 59,298 shares during the period. Alliancebernstein L.P. owned approximately 0.57% of Neurocrine Biosciences worth $78,845,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NBIX. Golden State Wealth Management LLC purchased a new stake in Neurocrine Biosciences during the 4th quarter valued at approximately $25,000. Brooklyn Investment Group raised its holdings in 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 period. Lindbrook Capital LLC lifted its holdings 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 acquiring an additional 130 shares during the last quarter. R Squared Ltd purchased a new position in shares of Neurocrine Biosciences during the fourth quarter valued at approximately $61,000. Finally, UMB Bank n.a. grew its position in Neurocrine Biosciences by 211.6% in the 4th quarter. UMB Bank n.a. now owns 455 shares of the company's stock valued at $62,000 after acquiring an additional 309 shares during the last quarter. Hedge funds and other institutional investors own 92.59% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on NBIX shares. HC Wainwright reissued a "buy" rating and set a $185.00 price objective on shares of Neurocrine Biosciences in a report on Friday, February 21st. Guggenheim dropped their price target on Neurocrine Biosciences from $165.00 to $163.00 and set a "buy" rating on the stock in a research note on Monday, February 10th. StockNews.com downgraded Neurocrine Biosciences from a "strong-buy" rating to a "buy" rating in a research report on Thursday, March 20th. 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 research report on Friday. Finally, Royal Bank of Canada dropped their target price 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. Five investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $163.52.

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Insider Buying and Selling

In other news, 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 transaction of $21,836,853.30. Following the completion of the transaction, the director now directly owns 514,596 shares in the company, valued at $76,911,518.16. The trade was a 22.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ingrid Delaet sold 623 shares of the company's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $149.29, for a total transaction of $93,007.67. Following the transaction, the insider now directly owns 3,442 shares of the company's stock, valued at $513,856.18. This represents a 15.33 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 232,906 shares of company stock valued at $33,869,030. Company insiders own 4.30% of the company's stock.

Neurocrine Biosciences Trading Down 1.9 %

NASDAQ NBIX traded down $1.78 during trading on Tuesday, reaching $91.47. The company's stock had a trading volume of 347,997 shares, compared to its average volume of 1,004,610. The stock has a market capitalization of $9.12 billion, a PE ratio of 27.85, a PEG ratio of 0.77 and a beta of 0.33. Neurocrine Biosciences, Inc. has a 1-year low of $90.33 and a 1-year high of $157.98. The business has a 50-day moving average price of $118.91 and a 200-day moving average price of $124.18.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last posted its earnings results on Thursday, February 6th. The company reported $1.00 earnings per share for the quarter, missing the consensus estimate 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, analysts expect that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.

Neurocrine Biosciences declared that its board has initiated a stock repurchase program on Friday, February 21st that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to repurchase up to 4.2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board of directors believes its stock is undervalued.

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.