Great Lakes Advisors LLC Sells 5,832 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Great Lakes Advisors LLC cut its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 56.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,575 shares of the company's stock after selling 5,832 shares during the quarter. Great Lakes Advisors LLC's holdings in Neurocrine Biosciences were worth $624,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of NBIX. Sigma Planning Corp bought a new stake in Neurocrine Biosciences during the 3rd quarter worth approximately $230,000. Victory Capital Management Inc. boosted its holdings in shares of Neurocrine Biosciences by 48.5% in the 3rd quarter. Victory Capital Management Inc. now owns 204,205 shares of the company's stock valued at $23,529,000 after buying an additional 66,662 shares during the last quarter. Oppenheimer & Co. Inc. boosted its holdings in shares of Neurocrine Biosciences by 11.9% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 19,289 shares of the company's stock valued at $2,222,000 after buying an additional 2,051 shares during the last quarter. KBC Group NV lifted its holdings in Neurocrine Biosciences by 78.3% during the 3rd quarter. KBC Group NV now owns 18,972 shares of the company's stock valued at $2,186,000 after purchasing an additional 8,332 shares during the last quarter. Finally, Metis Global Partners LLC increased its position in Neurocrine Biosciences by 9.1% during the 3rd quarter. Metis Global Partners LLC now owns 2,444 shares of the company's stock worth $282,000 after buying an additional 203 shares during the period. 92.59% of the stock is owned by institutional investors.

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Insider Activity at Neurocrine Biosciences

In other Neurocrine Biosciences news, insider Julie Cooke sold 1,740 shares of the business's stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $152.89, for a total transaction of $266,028.60. Following the completion of the sale, the insider now owns 18,202 shares of the company's stock, valued at approximately $2,782,903.78. The trade was a 8.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Ingrid Delaet sold 272 shares of the business's stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $138.10, for a total value of $37,563.20. Following the sale, the insider now directly owns 2,507 shares of the company's stock, valued at $346,216.70. This represents a 9.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 233,178 shares of company stock valued at $33,906,594 in the last 90 days. Corporate insiders own 4.30% of the company's stock.

Neurocrine Biosciences Stock Performance

Shares of NBIX traded down $0.24 on Thursday, reaching $110.07. The stock had a trading volume of 870,132 shares, compared to its average volume of 1,311,961. The firm has a market capitalization of $10.97 billion, a price-to-earnings ratio of 33.46, a price-to-earnings-growth ratio of 0.77 and a beta of 0.35. The company has a 50-day simple moving average of $128.06 and a 200-day simple moving average of $125.36. Neurocrine Biosciences, Inc. has a 12-month low of $105.18 and a 12-month high of $157.98.

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 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%. On average, analysts expect that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

Neurocrine Biosciences announced that its Board of Directors has initiated a share repurchase plan on Friday, February 21st that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 4.2% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

NBIX has been the topic of several research analyst reports. Royal Bank of Canada reduced their price objective on Neurocrine Biosciences from $154.00 to $148.00 and set a "sector perform" rating on the stock in a research note on Friday, February 7th. Morgan Stanley reaffirmed an "overweight" rating and issued a $150.00 price objective (down from $185.00) on shares of Neurocrine Biosciences in a research note on Friday, March 7th. Wedbush cut their price objective on Neurocrine Biosciences from $157.00 to $147.00 and set an "outperform" rating on the stock in a research note on Friday, February 7th. Bank of America cut their price objective on Neurocrine Biosciences from $184.00 to $179.00 and set a "buy" rating on the stock in a research note on Friday, February 7th. Finally, UBS Group lifted their target price on Neurocrine Biosciences from $162.00 to $176.00 and gave the stock a "buy" rating in a report on Thursday, January 30th. Five equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $165.24.

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.