Canada Pension Plan Investment Board Sells 16,700 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Canada Pension Plan Investment Board lowered its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 32.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 34,100 shares of the company's stock after selling 16,700 shares during the quarter. Canada Pension Plan Investment Board's holdings in Neurocrine Biosciences were worth $4,655,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of NBIX. Golden State Wealth Management LLC acquired a new position in shares of Neurocrine Biosciences in the 4th quarter valued at about $25,000. Huntington National Bank increased its holdings in Neurocrine Biosciences by 73.5% in the fourth quarter. Huntington National Bank now owns 229 shares of the company's stock worth $31,000 after purchasing an additional 97 shares in the last quarter. Brooklyn Investment Group lifted its stake in Neurocrine Biosciences by 99.1% in the fourth 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 boosted its holdings in shares of Neurocrine Biosciences by 53.5% during the 4th quarter. Lindbrook Capital LLC now owns 373 shares of the company's stock worth $51,000 after buying an additional 130 shares in the last quarter. Finally, R Squared Ltd acquired a new stake in shares of Neurocrine Biosciences during the 4th quarter worth approximately $61,000. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on NBIX. Needham & Company LLC upgraded shares of Neurocrine Biosciences from a "hold" rating to a "buy" rating and set a $138.00 target price on the stock in a research report on Tuesday, April 15th. Bank of America dropped their price objective on shares of Neurocrine Biosciences from $184.00 to $179.00 and set a "buy" rating on the stock in a report on Friday, February 7th. 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 research note on Tuesday. 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. Finally, Royal Bank of Canada raised Neurocrine Biosciences from a "sector perform" rating to an "outperform" rating and reduced their price objective for the company from $138.00 to $137.00 in a research note on Monday, April 14th. Three analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $161.09.

Insider Buying and Selling

In other Neurocrine Biosciences news, CFO Matt Abernethy sold 1,283 shares of the business's stock in a transaction 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 sale, the chief financial officer now directly owns 32,681 shares in the company, valued at $4,995,944.47. The trade was a 3.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 transaction, the director now owns 521,618 shares of the company's stock, valued at $60,867,604.42. The trade was a 1.11 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 167,906 shares of company stock valued at $24,671,530. 4.30% of the stock is owned by company insiders.

Neurocrine Biosciences Price Performance

Shares of Neurocrine Biosciences stock opened at $101.74 on Wednesday. The firm has a market cap of $10.07 billion, a PE ratio of 30.92, a P/E/G ratio of 0.77 and a beta of 0.33. Neurocrine Biosciences, Inc. has a 1 year low of $84.23 and a 1 year high of $157.98. The stock has a fifty day moving average price of $107.72 and a 200-day moving average price of $122.29.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The company reported $1.00 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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, equities analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

Neurocrine Biosciences announced that its Board of Directors has approved a share buyback plan on Friday, February 21st that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 4.2% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's management believes its stock is undervalued.

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.

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