Allstate Corp Buys Shares of 2,909 Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Allstate Corp purchased a new position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 2,909 shares of the company's stock, valued at approximately $397,000.

Other institutional investors have also added to or reduced their stakes in the company. Quantbot Technologies LP bought a new position in shares of Neurocrine Biosciences in the third quarter worth about $89,000. Verition Fund Management LLC purchased a new stake in Neurocrine Biosciences in the 3rd quarter worth approximately $959,000. Investment Management Corp of Ontario raised its stake in Neurocrine Biosciences by 33.5% during the 3rd quarter. Investment Management Corp of Ontario now owns 4,778 shares of the company's stock worth $551,000 after acquiring an additional 1,200 shares during the period. Parkman Healthcare Partners LLC lifted its holdings in Neurocrine Biosciences by 12.7% during the third quarter. Parkman Healthcare Partners LLC now owns 129,840 shares of the company's stock valued at $14,960,000 after purchasing an additional 14,670 shares in the last quarter. Finally, Royal London Asset Management Ltd. boosted its position in shares of Neurocrine Biosciences by 13.3% in the third quarter. Royal London Asset Management Ltd. now owns 51,533 shares of the company's stock worth $5,938,000 after purchasing an additional 6,060 shares during the period. 92.59% of the stock is currently owned by institutional investors.

Neurocrine Biosciences Price Performance

Shares of Neurocrine Biosciences stock traded down $2.40 on Monday, reaching $93.25. The company had a trading volume of 2,468,500 shares, compared to its average volume of 1,007,072. The firm has a market cap of $9.30 billion, a price-to-earnings ratio of 28.34, a P/E/G ratio of 0.77 and a beta of 0.33. The firm's 50-day moving average price is $118.91 and its two-hundred day moving average price is $124.18. Neurocrine Biosciences, Inc. has a 1 year low of $90.33 and a 1 year high of $157.98.

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Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last posted its quarterly earnings data 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%. As a group, analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

Neurocrine Biosciences announced that its board has initiated a stock repurchase plan on Friday, February 21st that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 4.2% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on NBIX. Bank of America lowered their target price 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. StockNews.com downgraded Neurocrine Biosciences from a "strong-buy" rating to a "buy" rating in a research report on Thursday, March 20th. Needham & Company LLC reiterated a "hold" rating on shares of Neurocrine Biosciences in a research report on Friday, February 7th. Wedbush decreased their target price on Neurocrine Biosciences from $157.00 to $147.00 and set an "outperform" rating on the stock in a research note on Friday, February 7th. Finally, HC Wainwright restated a "buy" rating and issued a $185.00 price target on shares of Neurocrine Biosciences in a research note on Friday, February 21st. Five 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. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $163.52.

Insider Buying and Selling

In other Neurocrine Biosciences news, Director Kevin Charles Gorman sold 5,844 shares of the stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $116.69, for a total value of $681,936.36. Following the sale, the director now owns 521,618 shares in the company, valued at $60,867,604.42. This trade represents a 1.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Matt Abernethy sold 2,558 shares of the business's stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $116.86, for a total transaction of $298,927.88. Following the sale, the chief financial officer now directly owns 34,775 shares of the company's stock, valued at $4,063,806.50. This represents a 6.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, 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 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.