CreativeOne Wealth LLC Lowers Stock Holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

CreativeOne Wealth LLC cut its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 37.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,224 shares of the company's stock after selling 3,184 shares during the quarter. CreativeOne Wealth LLC's holdings in Neurocrine Biosciences were worth $713,000 as of its most recent SEC filing.

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

Insider Buying and Selling at Neurocrine Biosciences

In other news, CFO Matt Abernethy sold 1,283 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 value of $196,132.21. Following the sale, the chief financial officer now owns 32,681 shares in the company, valued at $4,995,944.47. This represents a 3.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kevin Charles Gorman sold 5,844 shares of the firm's stock in a transaction dated 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 directly owns 521,618 shares in the company, valued at approximately $60,867,604.42. This trade represents a 1.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 167,906 shares of company stock valued at $24,671,530. 4.30% of the stock is owned by insiders.

Neurocrine Biosciences Stock Performance

NBIX stock traded up $1.47 during midday trading on Wednesday, reaching $103.21. The stock had a trading volume of 1,448,093 shares, compared to its average volume of 1,439,327. Neurocrine Biosciences, Inc. has a 52-week low of $84.23 and a 52-week high of $157.98. The firm has a fifty day simple moving average of $107.72 and a two-hundred day simple moving average of $122.29. The stock has a market cap of $10.21 billion, a PE ratio of 31.32, a P/E/G ratio of 0.77 and a beta of 0.33.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last released 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 net margin of 14.49% and a return on equity of 13.38%. On average, sell-side analysts predict that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

Neurocrine Biosciences announced that its board has approved a stock buyback plan 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 stock through open market purchases. Stock buyback plans are typically an indication that the company's board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on NBIX. Morgan Stanley restated an "overweight" rating and set a $150.00 price objective (down previously from $185.00) on shares of Neurocrine Biosciences in a report on Friday, March 7th. Wedbush dropped their target price on shares of Neurocrine Biosciences from $157.00 to $147.00 and set an "outperform" rating on the stock in a research note on Friday, February 7th. 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. 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 report on Monday, February 10th. Finally, Royal Bank of Canada upgraded Neurocrine Biosciences from a "sector perform" rating to an "outperform" rating and decreased their price objective for the company from $138.00 to $137.00 in a report on Monday, April 14th. Three analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $161.09.

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.