Victory Capital Management Inc. Decreases Stock Holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Victory Capital Management Inc. reduced its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 7.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 189,896 shares of the company's stock after selling 14,309 shares during the period. Victory Capital Management Inc. owned approximately 0.19% of Neurocrine Biosciences worth $25,921,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Golden State Wealth Management LLC bought a new position in shares of Neurocrine Biosciences in the fourth quarter valued at $25,000. Brooklyn Investment Group lifted its position in Neurocrine Biosciences by 99.1% in the 4th quarter. Brooklyn Investment Group now owns 231 shares of the company's stock valued at $32,000 after acquiring an additional 115 shares in the last quarter. R Squared Ltd acquired a new position in Neurocrine Biosciences during the 4th quarter valued at about $61,000. UMB Bank n.a. increased its holdings in Neurocrine Biosciences by 211.6% during the 4th quarter. UMB Bank n.a. now owns 455 shares of the company's stock worth $62,000 after purchasing an additional 309 shares in the last quarter. Finally, Truvestments Capital LLC purchased a new stake in shares of Neurocrine Biosciences in the third quarter worth approximately $63,000. Institutional investors and hedge funds own 92.59% of the company's stock.

Insider Transactions at Neurocrine Biosciences

In other news, CEO Kyle Gano sold 65,000 shares of the stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $141.50, for a total value of $9,197,500.00. Following the transaction, the chief executive officer now owns 135,392 shares of the company's stock, valued at $19,157,968. This represents a 32.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Ingrid Delaet sold 1,091 shares of the stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $135.00, for a total value of $147,285.00. Following the completion of the transaction, the insider now directly owns 2,507 shares in the company, valued at approximately $338,445. This represents a 30.32 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 234,269 shares of company stock valued at $34,053,879. 4.30% of the stock is owned by corporate insiders.

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Analyst Ratings Changes

NBIX has been the topic of several analyst reports. William Blair reaffirmed an "outperform" rating on shares of Neurocrine Biosciences in a research report on Friday, February 7th. StockNews.com raised shares of Neurocrine Biosciences from a "buy" rating to a "strong-buy" rating in a report on Wednesday. Barclays increased their target price on shares of Neurocrine Biosciences from $160.00 to $165.00 and gave the company an "overweight" rating in a report on Monday, December 23rd. Canaccord Genuity Group cut their price target on shares of Neurocrine Biosciences from $172.00 to $163.00 and set a "buy" rating on the stock in a report on Friday, February 7th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Neurocrine Biosciences in a research note on Tuesday, February 11th. They issued a "hold" rating and a $138.00 price objective for the company. Five research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Neurocrine Biosciences has a consensus rating of "Moderate Buy" and a consensus price target of $165.24.

Neurocrine Biosciences Trading Up 1.6 %

Shares of NBIX stock traded up $1.76 during trading hours on Friday, reaching $110.75. The stock had a trading volume of 1,070,142 shares, compared to its average volume of 1,343,585. The stock's fifty day simple moving average is $130.23 and its 200 day simple moving average is $126.17. The firm has a market capitalization of $11.04 billion, a PE ratio of 33.66, 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.

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

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

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.