Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Shares Sold by Primecap Management Co. CA

Primecap Management Co. CA lowered its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 2.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 393,710 shares of the company's stock after selling 10,290 shares during the quarter. Primecap Management Co. CA owned about 0.39% of Neurocrine Biosciences worth $53,741,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of NBIX. Victory Capital Management Inc. grew its holdings in shares of Neurocrine Biosciences by 48.5% in the third quarter. Victory Capital Management Inc. now owns 204,205 shares of the company's stock valued at $23,529,000 after purchasing an additional 66,662 shares during the period. KBC Group NV increased its position in shares of Neurocrine Biosciences by 78.3% during the third quarter. KBC Group NV now owns 18,972 shares of the company's stock valued at $2,186,000 after acquiring an additional 8,332 shares during the last quarter. Metis Global Partners LLC increased its position in shares of Neurocrine Biosciences by 9.1% during the third quarter. Metis Global Partners LLC now owns 2,444 shares of the company's stock valued at $282,000 after acquiring an additional 203 shares during the last quarter. CIBC Asset Management Inc increased its position in shares of Neurocrine Biosciences by 5.6% during the third quarter. CIBC Asset Management Inc now owns 3,591 shares of the company's stock valued at $414,000 after acquiring an additional 191 shares during the last quarter. Finally, Swiss National Bank increased its position in shares of Neurocrine Biosciences by 1.4% during the third quarter. Swiss National Bank now owns 298,700 shares of the company's stock valued at $34,416,000 after acquiring an additional 4,100 shares during the last quarter. Hedge funds and other institutional investors own 92.59% of the company's stock.

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Neurocrine Biosciences Price Performance

Shares of NASDAQ:NBIX traded up $1.85 during trading on Friday, hitting $111.92. 2,315,014 shares of the company were exchanged, compared to its average volume of 957,904. The stock has a market capitalization of $11.16 billion, a P/E ratio of 34.02, a PEG ratio of 0.77 and a beta of 0.35. Neurocrine Biosciences, Inc. has a 12-month low of $105.18 and a 12-month high of $157.98. The firm's 50 day moving average price is $126.90 and its 200-day moving average price is $125.15.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The company reported $1.00 earnings per share 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%. As a group, equities research analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

Neurocrine Biosciences declared that its Board of Directors has initiated a stock repurchase plan 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 shares through open market purchases. Shares repurchase plans are often a sign that the company's board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on NBIX shares. Bank of America dropped their price target on shares of Neurocrine Biosciences from $184.00 to $179.00 and set a "buy" rating for the company in a research report on Friday, February 7th. Royal Bank of Canada dropped their price target on shares of Neurocrine Biosciences from $154.00 to $148.00 and set a "sector perform" rating for the company in a research report on Friday, February 7th. William Blair reiterated an "outperform" rating on shares of Neurocrine Biosciences in a research report on Friday, February 7th. Canaccord Genuity Group dropped their price target on shares of Neurocrine Biosciences from $172.00 to $163.00 and set a "buy" rating for the company in a research report on Friday, February 7th. Finally, StockNews.com cut shares of Neurocrine Biosciences from a "strong-buy" rating to a "buy" rating in a report on Thursday. Five equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Neurocrine Biosciences presently has an average rating of "Moderate Buy" and an average price target of $165.24.

Insider Activity at Neurocrine Biosciences

In other Neurocrine Biosciences news, CFO Matt Abernethy sold 1,283 shares of the business's stock in a transaction on Friday, January 31st. The shares were sold at an average price of $152.87, for a total value of $196,132.21. Following the transaction, the chief financial officer now directly 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 transaction of $681,936.36. Following the completion of the transaction, the director now directly owns 521,618 shares in the company, valued at $60,867,604.42. This represents a 1.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 233,178 shares of company stock worth $33,906,594 in the last 90 days. 4.30% of the stock is owned by insiders.

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.