Guggenheim Capital LLC Has $3.13 Million Stock Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Guggenheim Capital LLC lessened its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 28.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 22,898 shares of the company's stock after selling 9,134 shares during the quarter. Guggenheim Capital LLC's holdings in Neurocrine Biosciences were worth $3,126,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Golden State Wealth Management LLC bought a new stake in shares of Neurocrine Biosciences in the fourth quarter worth about $25,000. Huntington National Bank grew its position in shares of Neurocrine Biosciences by 73.5% in the 4th quarter. Huntington National Bank now owns 229 shares of the company's stock valued at $31,000 after purchasing an additional 97 shares during the period. Brooklyn Investment Group increased its stake in Neurocrine Biosciences by 99.1% during the 4th quarter. Brooklyn Investment Group now owns 231 shares of the company's stock worth $32,000 after purchasing an additional 115 shares in the last quarter. Lindbrook Capital LLC raised its holdings in 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 during the period. Finally, R Squared Ltd acquired a new stake in Neurocrine Biosciences during the 4th quarter worth approximately $61,000. Institutional investors and hedge funds own 92.59% of the company's stock.

Neurocrine Biosciences Stock Performance

NBIX traded up $1.54 during trading hours on Wednesday, reaching $103.28. The company's stock had a trading volume of 1,935,265 shares, compared to its average volume of 1,065,184. The company's 50-day moving average is $107.72 and its 200-day moving average is $122.29. Neurocrine Biosciences, Inc. has a 52 week low of $84.23 and a 52 week high of $157.98. The firm has a market cap of $10.22 billion, a PE ratio of 31.39, a price-to-earnings-growth ratio of 0.77 and a beta of 0.33.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last announced 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 return on equity of 13.38% and a net margin of 14.49%. Equities analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

Neurocrine Biosciences declared that its Board of Directors has approved a stock buyback program 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 shares through open market purchases. Shares buyback programs are typically a sign that the company's management believes its shares are undervalued.

Analysts Set New Price Targets

Several research firms have recently weighed in on NBIX. Bank of America reduced their price target on shares of Neurocrine Biosciences from $184.00 to $179.00 and set a "buy" rating for the company in a report on Friday, February 7th. Guggenheim lowered their target price on Neurocrine Biosciences from $165.00 to $163.00 and set a "buy" rating for the company in a report on Monday, February 10th. HC Wainwright cut their price target on Neurocrine Biosciences from $185.00 to $168.00 and set a "buy" rating on the stock in a report on Tuesday. Morgan Stanley reiterated an "overweight" rating and set a $150.00 price objective (down from $185.00) on shares of Neurocrine Biosciences in a report on Friday, March 7th. Finally, JPMorgan Chase & Co. lifted their target price on Neurocrine Biosciences from $183.00 to $184.00 and gave the company an "overweight" rating in a research report on Wednesday, March 26th. Three investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Neurocrine Biosciences currently has an average rating of "Moderate Buy" and a consensus price target of $161.09.

Insider Transactions at Neurocrine Biosciences

In other news, CFO Matt Abernethy sold 1,283 shares of the business's stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $152.87, for a total value of $196,132.21. Following the completion of the sale, the chief financial officer now owns 32,681 shares of the company's stock, valued at approximately $4,995,944.47. The trade was a 3.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Ingrid Delaet sold 623 shares of the company's stock in a transaction dated 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 transaction, the insider now owns 3,442 shares in the company, valued at $513,856.18. This trade represents a 15.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 167,906 shares of company stock worth $24,671,530 over the last quarter. Company insiders own 4.30% of the company's stock.

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.