Parkman Healthcare Partners LLC Sells 14,113 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Parkman Healthcare Partners LLC lowered its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 10.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 115,727 shares of the company’s stock after selling 14,113 shares during the period. Neurocrine Biosciences makes up 2.1% of Parkman Healthcare Partners LLC’s investment portfolio, making the stock its 15th biggest holding. Parkman Healthcare Partners LLC owned about 0.11% of Neurocrine Biosciences worth $15,797,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Dodge & Cox raised its stake in Neurocrine Biosciences by 134.2% during the 4th quarter. Dodge & Cox now owns 3,016,425 shares of the company’s stock worth $411,742,000 after buying an additional 1,728,605 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Neurocrine Biosciences during the fourth quarter valued at approximately $115,193,000. Wellington Management Group LLP increased its holdings in shares of Neurocrine Biosciences by 102.9% during the fourth quarter. Wellington Management Group LLP now owns 1,457,425 shares of the company’s stock valued at $198,939,000 after acquiring an additional 739,199 shares in the last quarter. Thrivent Financial for Lutherans raised its position in shares of Neurocrine Biosciences by 2,759.4% during 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 period. Finally, Orbimed Advisors LLC lifted its holdings in shares of Neurocrine Biosciences by 210.4% in the 4th quarter. Orbimed Advisors LLC now owns 938,120 shares of the company’s stock worth $128,053,000 after purchasing an additional 635,900 shares in the last quarter. Institutional investors own 92.59% of the company’s stock.

Analysts Set New Price Targets

NBIX has been the subject of several research reports. Morgan Stanley reissued an “overweight” rating and issued a $150.00 price target (down previously from $185.00) on shares of Neurocrine Biosciences in a research report on Friday, March 7th. Wedbush reissued an “outperform” rating on shares of Neurocrine Biosciences in a research report on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft started coverage on shares of Neurocrine Biosciences in a research report on Tuesday, February 11th. They issued a “hold” rating and a $138.00 price target on the stock. Canaccord Genuity Group raised their target price on Neurocrine Biosciences from $158.00 to $160.00 and gave the company a “buy” rating in a report on Tuesday, May 6th. Finally, Guggenheim lifted their target price on Neurocrine Biosciences from $155.00 to $165.00 and gave the company a “buy” rating in a research report on Tuesday, May 6th. Three investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $162.00.

Insider Buying and Selling

In other Neurocrine Biosciences news, insider Julie Cooke sold 1,551 shares of the company’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $116.78, for a total transaction of $181,125.78. Following the sale, the insider now directly owns 19,544 shares of the company’s stock, valued at $2,282,348.32. This represents a 7.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Matt Abernethy sold 2,558 shares of Neurocrine Biosciences stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $116.86, for a total transaction of $298,927.88. Following the completion of the transaction, the chief financial officer now owns 34,775 shares of the company’s stock, valued at $4,063,806.50. The trade was a 6.85% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 39,953 shares of company stock valued at $4,467,990. 4.80% of the stock is owned by insiders.

Neurocrine Biosciences Stock Down 3.0%

Shares of NBIX stock opened at $116.87 on Wednesday. The firm has a market cap of $11.57 billion, a P/E ratio of 35.52, a PEG ratio of 0.77 and a beta of 0.26. The company has a 50 day moving average of $106.44 and a 200-day moving average of $121.89. Neurocrine Biosciences, Inc. has a 12-month low of $84.23 and a 12-month high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX) last released its earnings results on Monday, May 5th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.62). Neurocrine Biosciences had a return on equity of 13.38% and a net margin of 14.49%. The firm had revenue of $572.60 million during the quarter, compared to analysts’ expectations of $587.06 million. During the same period in the prior year, the business earned $1.20 earnings per share. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. As a group, equities analysts expect that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

Neurocrine Biosciences announced that its Board of Directors has initiated a share repurchase plan on Friday, February 21st that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 4.2% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Neurocrine Biosciences Company 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.