BI Asset Management Fondsmaeglerselskab A S Sells 4,923 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

BI Asset Management Fondsmaeglerselskab A S cut its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 28.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,322 shares of the company's stock after selling 4,923 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Neurocrine Biosciences were worth $1,682,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Golden State Wealth Management LLC bought a new stake in Neurocrine Biosciences in the 4th quarter worth about $25,000. Huntington National Bank lifted its holdings in Neurocrine Biosciences by 73.5% during the fourth quarter. Huntington National Bank now owns 229 shares of the company's stock worth $31,000 after acquiring an additional 97 shares during the period. Brooklyn Investment Group grew its stake in Neurocrine Biosciences by 99.1% in the 4th quarter. Brooklyn Investment Group now owns 231 shares of the company's stock valued at $32,000 after purchasing an additional 115 shares during the period. GeoWealth Management LLC raised its stake in shares of Neurocrine Biosciences by 65.4% during the 4th quarter. GeoWealth Management LLC now owns 258 shares of the company's stock worth $35,000 after purchasing an additional 102 shares during the period. Finally, Lindbrook Capital LLC boosted 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 buying an additional 130 shares during the last quarter. 92.59% of the stock is owned by hedge funds and other institutional investors.

Neurocrine Biosciences Price Performance

NBIX traded up $0.97 on Friday, hitting $106.73. The company had a trading volume of 1,328,294 shares, compared to its average volume of 1,065,564. The stock has a fifty day simple moving average of $107.30 and a 200-day simple moving average of $122.12. The firm has a market capitalization of $10.56 billion, a P/E ratio of 32.44, a P/E/G ratio of 0.77 and a beta of 0.33. Neurocrine Biosciences, Inc. has a 52-week low of $84.23 and a 52-week high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last released its earnings results on Thursday, February 6th. The company reported $1.00 EPS for the quarter, missing analysts' consensus estimates of $1.62 by ($0.62). Neurocrine Biosciences had a net margin of 14.49% and a return on equity of 13.38%. Equities research analysts expect that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

Neurocrine Biosciences declared that its Board of Directors has authorized a share buyback program on Friday, February 21st that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to reacquire up to 4.2% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's board believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. StockNews.com downgraded shares of Neurocrine Biosciences from a "strong-buy" rating to a "buy" rating in a research report on Thursday, March 20th. Deutsche Bank Aktiengesellschaft initiated coverage on Neurocrine Biosciences in a research report on Tuesday, February 11th. They issued a "hold" rating and a $138.00 target price for the company. William Blair reaffirmed an "outperform" rating on shares of Neurocrine Biosciences in a research report on Friday, February 7th. JPMorgan Chase & Co. boosted their price objective on Neurocrine Biosciences from $183.00 to $184.00 and gave the company an "overweight" rating in a research note on Wednesday, March 26th. Finally, Bank of America reduced their price objective on shares of Neurocrine Biosciences from $184.00 to $179.00 and set a "buy" rating for the company in a research note on Friday, February 7th. Three investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $161.14.

Insider Buying and Selling at Neurocrine Biosciences

In related news, Director Kevin Charles Gorman sold 5,844 shares of the firm's stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $116.69, for a total transaction of $681,936.36. Following the completion of the transaction, the director now owns 521,618 shares of the company's stock, valued at $60,867,604.42. This trade represents a 1.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Kyle Gano sold 1,541 shares of the company's stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $152.87, for a total transaction of $235,572.67. Following the completion of the transaction, the chief executive officer now owns 136,778 shares in the company, valued at approximately $20,909,252.86. The trade was a 1.11 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 167,906 shares of company stock valued at $24,671,530. 4.30% of the stock is currently owned by company insiders.

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.