Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Shares Sold by Legal & General Group Plc

Legal & General Group Plc lessened its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 34.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 345,690 shares of the company's stock after selling 183,570 shares during the period. Legal & General Group Plc owned 0.34% of Neurocrine Biosciences worth $47,187,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. HighPoint Advisor Group LLC raised its stake in Neurocrine Biosciences by 4.1% during the fourth quarter. HighPoint Advisor Group LLC now owns 2,446 shares of the company's stock worth $334,000 after purchasing an additional 96 shares during the period. Huntington National Bank lifted its holdings in Neurocrine Biosciences by 73.5% in the fourth quarter. Huntington National Bank now owns 229 shares of the company's stock valued at $31,000 after acquiring an additional 97 shares during the last quarter. Louisiana State Employees Retirement System grew its position in Neurocrine Biosciences by 0.4% in the fourth quarter. Louisiana State Employees Retirement System now owns 28,100 shares of the company's stock worth $3,836,000 after acquiring an additional 100 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in Neurocrine Biosciences by 0.5% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 22,361 shares of the company's stock worth $3,052,000 after acquiring an additional 103 shares during the period. Finally, Metis Global Partners LLC increased its stake in Neurocrine Biosciences by 4.3% during the fourth quarter. Metis Global Partners LLC now owns 2,548 shares of the company's stock worth $348,000 after acquiring an additional 104 shares during the last quarter. Institutional investors and hedge funds own 92.59% of the company's stock.

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Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. StockNews.com lowered shares of Neurocrine Biosciences from a "strong-buy" rating to a "buy" rating in a report on Thursday, March 20th. Bank of America reduced their price target on shares of Neurocrine Biosciences from $184.00 to $179.00 and set a "buy" rating on the stock in a research note on Friday, February 7th. Morgan Stanley reaffirmed an "overweight" rating and set a $150.00 price objective (down previously from $185.00) on shares of Neurocrine Biosciences in a research report on Friday, March 7th. Royal Bank of Canada upgraded shares of Neurocrine Biosciences from a "sector perform" rating to an "outperform" rating and dropped their target price for the company from $138.00 to $137.00 in a report on Monday. Finally, Barclays upped their price target on Neurocrine Biosciences from $160.00 to $165.00 and gave the stock an "overweight" rating in a research note on Monday, December 23rd. 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, the stock has an average rating of "Moderate Buy" and an average target price of $161.86.

Insider Activity

In related news, Director Kevin Charles Gorman sold 5,844 shares of the business's stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $116.69, for a total value of $681,936.36. Following the completion of the sale, the director now directly owns 521,618 shares of the company's stock, valued at $60,867,604.42. The trade was a 1.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Julie Cooke sold 1,740 shares of the company's stock in a transaction on Friday, January 31st. The shares were sold at an average price of $152.89, for a total transaction of $266,028.60. Following the completion of the transaction, the insider now owns 18,202 shares of the company's stock, valued at $2,782,903.78. This represents a 8.73 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 232,906 shares of company stock worth $33,869,030. 4.30% of the stock is currently owned by insiders.

Neurocrine Biosciences Stock Up 1.3 %

NASDAQ NBIX traded up $1.27 on Tuesday, hitting $96.16. 1,767,586 shares of the stock were exchanged, compared to its average volume of 1,037,383. Neurocrine Biosciences, Inc. has a fifty-two week low of $84.23 and a fifty-two week high of $157.98. The company has a 50-day moving average price of $109.46 and a 200-day moving average price of $122.74. The company has a market cap of $9.59 billion, a PE ratio of 29.23, a PEG ratio of 0.77 and a beta of 0.33.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last posted 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%. As a group, equities research analysts predict that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

Neurocrine Biosciences declared that its board has initiated a share repurchase program 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 programs are often a sign that the company's leadership 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.