Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Stock Holdings Decreased by CANADA LIFE ASSURANCE Co

CANADA LIFE ASSURANCE Co lessened its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 6.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 93,782 shares of the company's stock after selling 6,991 shares during the period. CANADA LIFE ASSURANCE Co owned approximately 0.09% of Neurocrine Biosciences worth $12,800,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Virtu Financial LLC purchased a new stake in Neurocrine Biosciences in the third quarter valued at $1,985,000. Sanctuary Advisors LLC boosted its stake in shares of Neurocrine Biosciences by 103.9% in the third quarter. Sanctuary Advisors LLC now owns 7,649 shares of the company's stock worth $961,000 after buying an additional 3,898 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Neurocrine Biosciences during the third quarter valued at approximately $384,000. Tidal Investments LLC lifted its holdings in Neurocrine Biosciences by 52.8% in the third quarter. Tidal Investments LLC now owns 15,043 shares of the company's stock valued at $1,733,000 after acquiring an additional 5,197 shares during the period. Finally, Tri Ri Asset Management Corp purchased a new stake in Neurocrine Biosciences in the 3rd quarter worth approximately $3,236,000. Institutional investors and hedge funds own 92.59% of the company's stock.

Neurocrine Biosciences Trading Up 0.9 %

Shares of NASDAQ:NBIX traded up $0.97 on Friday, hitting $106.73. The company had a trading volume of 1,328,288 shares, compared to its average volume of 1,065,562. The company has a market cap of $10.56 billion, a PE ratio of 32.44, a PEG ratio of 0.77 and a beta of 0.33. The business has a 50 day moving average of $107.30 and a 200 day moving average of $122.12. 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 announced its quarterly earnings data 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%. As a group, equities analysts predict that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

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

Wall Street Analysts Forecast Growth

NBIX has been the subject of a number of recent analyst reports. UBS Group cut their price objective on shares of Neurocrine Biosciences from $154.00 to $137.00 and set a "buy" rating for the company in a report on Friday, April 4th. Deutsche Bank Aktiengesellschaft initiated coverage on Neurocrine Biosciences in a report on Tuesday, February 11th. They issued a "hold" rating and a $138.00 price target for the company. Canaccord Genuity Group dropped their price objective on Neurocrine Biosciences from $172.00 to $163.00 and set a "buy" rating on the stock in a report on Friday, February 7th. 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 report on Friday, February 7th. Finally, HC Wainwright reduced their target price on Neurocrine Biosciences from $185.00 to $168.00 and set a "buy" rating for the company in a report on Tuesday. Three research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat, Neurocrine Biosciences presently has a consensus rating of "Moderate Buy" and an average target price of $161.14.

Insider Activity

In related news, insider Ingrid Delaet sold 623 shares of the 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 approximately $513,856.18. This represents a 15.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Julie Cooke sold 1,740 shares of Neurocrine Biosciences stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $152.89, for a total transaction of $266,028.60. Following the transaction, the insider now directly owns 18,202 shares in the company, valued at approximately $2,782,903.78. This trade represents a 8.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 167,906 shares of company stock valued at $24,671,530 in the last ninety days. Company insiders own 4.30% of the company's stock.

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.