Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Shares Sold by New York Life Investment Management LLC

New York Life Investment Management LLC decreased its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 13.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,994 shares of the company’s stock after selling 1,688 shares during the period. New York Life Investment Management LLC’s holdings in Neurocrine Biosciences were worth $1,501,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. State of Alaska Department of Revenue raised its position in Neurocrine Biosciences by 7.3% in the 3rd quarter. State of Alaska Department of Revenue now owns 11,735 shares of the company’s stock valued at $1,352,000 after purchasing an additional 795 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its position in Neurocrine Biosciences by 16.0% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 387,282 shares of the company’s stock valued at $44,623,000 after purchasing an additional 53,301 shares during the last quarter. Asset Management One Co. Ltd. raised its position in Neurocrine Biosciences by 2.5% in the 3rd quarter. Asset Management One Co. Ltd. now owns 69,230 shares of the company’s stock valued at $7,977,000 after purchasing an additional 1,705 shares during the last quarter. QRG Capital Management Inc. raised its position in Neurocrine Biosciences by 3.2% in the 3rd quarter. QRG Capital Management Inc. now owns 18,279 shares of the company’s stock valued at $2,106,000 after purchasing an additional 569 shares during the last quarter. Finally, Impax Asset Management Group plc raised its position in Neurocrine Biosciences by 70.0% in the 3rd quarter. Impax Asset Management Group plc now owns 85,000 shares of the company’s stock valued at $9,794,000 after purchasing an additional 35,000 shares during the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

Insider Activity at Neurocrine Biosciences

In other Neurocrine Biosciences news, Director Kevin Charles Gorman sold 2,707 shares of the firm’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $152.92, for a total transaction of $413,954.44. Following the sale, the director now directly owns 517,030 shares of the company’s stock, valued at $79,064,227.60. This trade represents a 0.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ingrid Delaet sold 272 shares of the firm’s stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $138.10, for a total transaction of $37,563.20. Following the sale, the insider now directly owns 2,507 shares in the company, valued at $346,216.70. This represents a 9.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 234,269 shares of company stock valued at $34,053,879. Insiders own 4.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on NBIX. Bank of America reduced 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. Needham & Company LLC restated a “hold” rating on shares of Neurocrine Biosciences in a research report on Friday, February 7th. Royal Bank of Canada cut their price objective 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. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Neurocrine Biosciences in a research report on Tuesday, February 11th. They set a “hold” rating and a $138.00 price objective for the company. Finally, Morgan Stanley upped their price objective on shares of Neurocrine Biosciences from $170.00 to $185.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. Five research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $166.90.

Neurocrine Biosciences Trading Down 3.6 %

Shares of NASDAQ NBIX opened at $114.48 on Tuesday. The stock has a market cap of $11.41 billion, a price-to-earnings ratio of 34.80, a PEG ratio of 0.77 and a beta of 0.33. Neurocrine Biosciences, Inc. has a 52 week low of $110.95 and a 52 week high of $157.98. The company’s 50-day moving average price is $134.45 and its 200 day moving average price is $128.02.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings data 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, research analysts expect that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.

Neurocrine Biosciences announced that its board has initiated a stock buyback program on Friday, February 21st that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 4.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are 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.