First Trust Advisors LP Sells 149,669 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

First Trust Advisors LP trimmed its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 27.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 394,652 shares of the company's stock after selling 149,669 shares during the period. First Trust Advisors LP owned about 0.39% of Neurocrine Biosciences worth $53,870,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Dodge & Cox raised its position in Neurocrine Biosciences by 134.2% in the fourth quarter. Dodge & Cox now owns 3,016,425 shares of the company's stock worth $411,742,000 after acquiring an additional 1,728,605 shares during the period. Raymond James Financial Inc. purchased a new position in Neurocrine Biosciences in the fourth quarter valued at approximately $115,193,000. Wellington Management Group LLP lifted its stake in Neurocrine Biosciences by 102.9% in the fourth quarter. Wellington Management Group LLP now owns 1,457,425 shares of the company's stock valued at $198,939,000 after purchasing an additional 739,199 shares during the last quarter. Thrivent Financial for Lutherans grew its holdings in Neurocrine Biosciences by 2,759.4% during the fourth quarter. Thrivent Financial for Lutherans now owns 737,772 shares of the company's stock valued at $100,705,000 after purchasing an additional 711,970 shares during the period. Finally, Jennison Associates LLC increased its position in Neurocrine Biosciences by 145.1% in the fourth quarter. Jennison Associates LLC now owns 820,694 shares of the company's stock worth $112,025,000 after buying an additional 485,894 shares during the last quarter. 92.59% of the stock is owned by hedge funds and other institutional investors.

Neurocrine Biosciences Price Performance

Shares of NBIX opened at $101.74 on Wednesday. Neurocrine Biosciences, Inc. has a 1 year low of $84.23 and a 1 year high of $157.98. The stock has a 50 day simple moving average of $107.72 and a two-hundred day simple moving average of $122.29. The firm has a market cap of $10.07 billion, a P/E ratio of 30.92, a P/E/G ratio of 0.77 and a beta of 0.33.

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 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, equities analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.

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

Wall Street Analyst Weigh In

Several research firms have recently weighed in on NBIX. Wedbush cut their price target on Neurocrine Biosciences from $157.00 to $147.00 and set an "outperform" rating for the company in a research note on Friday, February 7th. StockNews.com downgraded shares of Neurocrine Biosciences from a "strong-buy" rating to a "buy" rating in a research note on Thursday, March 20th. Deutsche Bank Aktiengesellschaft started coverage on shares of Neurocrine Biosciences in a research note on Tuesday, February 11th. They set a "hold" rating and a $138.00 price target on the stock. Guggenheim reduced their price objective on shares of Neurocrine Biosciences from $165.00 to $163.00 and set a "buy" rating for the company in a research note on Monday, February 10th. Finally, Morgan Stanley restated an "overweight" rating and set a $150.00 target price (down previously from $185.00) on shares of Neurocrine Biosciences in a research report on Friday, March 7th. Three equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $161.09.

Insider Transactions at Neurocrine Biosciences

In other Neurocrine Biosciences news, insider Julie Cooke sold 1,740 shares of the business's stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $152.89, for a total value of $266,028.60. Following the completion of the sale, the insider now owns 18,202 shares in the company, valued at approximately $2,782,903.78. The trade was a 8.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kevin Charles Gorman sold 146,105 shares of the firm's stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $149.46, for a total transaction of $21,836,853.30. Following the completion of the transaction, the director now owns 514,596 shares in the company, valued at $76,911,518.16. This represents a 22.11 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 167,906 shares of company stock worth $24,671,530. 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.

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