Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA lessened its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 7.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 150,331 shares of the company's stock after selling 12,723 shares during the period. Massachusetts Financial Services Co. MA owned 0.15% of Neurocrine Biosciences worth $20,520,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in NBIX. Raymond James Financial Inc. purchased a new position in shares of Neurocrine Biosciences in the 4th quarter worth approximately $115,193,000. Wellington Management Group LLP grew its holdings 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 worth $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% in the fourth quarter. Thrivent Financial for Lutherans now owns 737,772 shares of the company's stock worth $100,705,000 after purchasing an additional 711,970 shares during the last quarter. State Street Corp increased its position in shares of Neurocrine Biosciences by 11.7% during the third quarter. State Street Corp now owns 5,148,293 shares of the company's stock worth $593,186,000 after purchasing an additional 539,936 shares in the last quarter. Finally, Jennison Associates LLC lifted its holdings in shares of Neurocrine Biosciences by 145.1% during the 4th quarter. Jennison Associates LLC now owns 820,694 shares of the company's stock valued at $112,025,000 after purchasing an additional 485,894 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors.

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Neurocrine Biosciences Price Performance

NASDAQ:NBIX traded up $0.15 during trading hours on Friday, reaching $90.87. The company had a trading volume of 1,620,786 shares, compared to its average volume of 1,029,057. Neurocrine Biosciences, Inc. has a 1-year low of $84.23 and a 1-year high of $157.98. The business's 50 day moving average price is $111.68 and its 200-day moving average price is $123.01. The firm has a market cap of $9.06 billion, a PE ratio of 27.62, a price-to-earnings-growth 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 earnings per share (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, analysts expect that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

Neurocrine Biosciences announced that its board has initiated a stock buyback program on Friday, February 21st that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 4.2% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's management believes its stock is undervalued.

Insider Buying and Selling at Neurocrine Biosciences

In other news, insider Julie Cooke sold 1,740 shares of the company'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 transaction of $266,028.60. Following the completion of the transaction, the insider now directly 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 sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Ingrid Delaet sold 623 shares of Neurocrine Biosciences stock in a transaction on 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 sale, the insider now directly owns 3,442 shares in the company, valued at $513,856.18. This represents a 15.33 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 232,906 shares of company stock valued at $33,869,030. Corporate insiders own 4.30% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on NBIX. Morgan Stanley restated an "overweight" rating and set a $150.00 target price (down from $185.00) on shares of Neurocrine Biosciences in a research note on Friday, March 7th. HC Wainwright restated a "buy" rating and set a $185.00 price objective on shares of Neurocrine Biosciences in a report on Friday, February 21st. William Blair reaffirmed an "outperform" rating on shares of Neurocrine Biosciences in a research report on Friday, February 7th. Guggenheim dropped their target price on shares of 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, Needham & Company LLC restated a "hold" rating on shares of Neurocrine Biosciences in a research note on Friday, February 7th. Five analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Neurocrine Biosciences has a consensus rating of "Moderate Buy" and an average price target of $163.52.

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.