Washington Capital Management Inc. Has $487,000 Stock Holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Washington Capital Management Inc. cut its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 13.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,400 shares of the company’s stock after selling 700 shares during the quarter. Washington Capital Management Inc.’s holdings in Neurocrine Biosciences were worth $487,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in NBIX. Dodge & Cox grew its position in Neurocrine Biosciences by 134.2% during the fourth 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 in the last quarter. Raymond James Financial Inc. bought a new position in Neurocrine Biosciences during the fourth quarter worth about $115,193,000. Wellington Management Group LLP lifted its stake in Neurocrine Biosciences by 102.9% during 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 period. Thrivent Financial for Lutherans lifted its stake in 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 stake in Neurocrine Biosciences by 210.4% during the fourth 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 during the period. 92.59% of the stock is owned by institutional investors and hedge funds.

Neurocrine Biosciences Price Performance

NBIX stock opened at $125.39 on Friday. The company has a 50 day moving average price of $110.40 and a 200 day moving average price of $121.94. Neurocrine Biosciences, Inc. has a fifty-two week low of $84.23 and a fifty-two week high of $157.98. The stock has a market capitalization of $12.41 billion, a PE ratio of 38.11, a price-to-earnings-growth ratio of 0.77 and a beta of 0.24.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings data on Monday, May 5th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.62). Neurocrine Biosciences had a return on equity of 13.38% and a net margin of 14.49%. The company had revenue of $572.60 million during the quarter, compared to the consensus estimate of $587.06 million. During the same quarter last year, the firm earned $1.20 EPS. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. As a group, equities 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 approved a share repurchase program on Friday, February 21st that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to reacquire up to 4.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other Neurocrine Biosciences news, Director William H. Rastetter sold 30,000 shares of Neurocrine Biosciences stock in a transaction on Monday, May 5th. The shares were sold at an average price of $110.20, for a total transaction of $3,306,000.00. Following the completion of the sale, the director now owns 37,491 shares of the company’s stock, valued at approximately $4,131,508.20. The trade was a 44.45% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kevin Charles Gorman sold 9,613 shares of Neurocrine Biosciences stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $120.38, for a total transaction of $1,157,212.94. Following the sale, the director now directly owns 514,596 shares of the company’s stock, valued at $61,947,066.48. This represents a 1.83% decrease in their position. The disclosure for this sale can be found here. 4.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Needham & Company LLC raised their price target on shares of Neurocrine Biosciences from $138.00 to $139.00 and gave the stock a “buy” rating in a research note on Tuesday, May 6th. Evercore ISI cut their price target on shares of Neurocrine Biosciences from $190.00 to $185.00 and set an “outperform” rating for the company in a research note on Thursday, April 24th. JPMorgan Chase & Co. raised their price target on shares of Neurocrine Biosciences from $183.00 to $184.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 26th. Guggenheim raised their price target on shares of Neurocrine Biosciences from $155.00 to $165.00 and gave the stock a “buy” rating in a research note on Tuesday, May 6th. Finally, Wedbush restated an “outperform” rating on shares of Neurocrine Biosciences in a research note on Tuesday, May 6th. Three equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat.com, Neurocrine Biosciences currently has a consensus rating of “Moderate Buy” and a consensus target price of $162.00.

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.