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

New York Life Investment Management LLC lessened its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 13.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,994 shares of the company’s stock after selling 1,688 shares during the quarter. 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 hedge funds and other institutional investors also recently added to or reduced their stakes in NBIX. Caprock Group LLC acquired a new stake in shares of Neurocrine Biosciences in the fourth quarter valued at about $236,000. Plato Investment Management Ltd grew its position in shares of Neurocrine Biosciences by 2,481.9% in the third quarter. Plato Investment Management Ltd now owns 10,973 shares of the company’s stock valued at $1,263,000 after purchasing an additional 10,548 shares during the period. Swiss National Bank grew its position in shares of Neurocrine Biosciences by 1.4% in the third quarter. Swiss National Bank now owns 298,700 shares of the company’s stock valued at $34,416,000 after purchasing an additional 4,100 shares during the period. Tri Ri Asset Management Corp acquired a new stake in shares of Neurocrine Biosciences in the third quarter valued at about $3,236,000. Finally, KBC Group NV grew its position in shares of Neurocrine Biosciences by 78.3% in the third quarter. KBC Group NV now owns 18,972 shares of the company’s stock valued at $2,186,000 after purchasing an additional 8,332 shares during the period. Institutional investors and hedge funds own 92.59% of the company’s stock.

Insiders Place Their Bets

In other Neurocrine Biosciences news, Director Kevin Charles Gorman sold 5,844 shares of the business’s stock in a transaction that occurred 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 owns 521,618 shares in the company, valued at $60,867,604.42. The trade was a 1.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Matt Abernethy sold 2,558 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $116.86, for a total transaction of $298,927.88. Following the transaction, the chief financial officer now owns 34,775 shares of the company’s stock, valued at $4,063,806.50. This trade represents a 6.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 234,269 shares of company stock worth $34,053,879 in the last 90 days. Corporate insiders own 4.30% of the company’s stock.

Neurocrine Biosciences Stock Down 3.6 %

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

Neurocrine Biosciences (NASDAQ:NBIX) last announced its earnings results 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%. Research analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.

Neurocrine Biosciences declared that its Board of Directors has initiated a stock repurchase plan on Friday, February 21st that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to buy up to 4.2% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

NBIX has been the topic of a number of recent research reports. StockNews.com lowered shares of Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 18th. HC Wainwright restated a “buy” rating and set a $185.00 price target on shares of Neurocrine Biosciences in a research report on Friday, February 21st. William Blair restated an “outperform” rating on shares of Neurocrine Biosciences in a research report on Friday, February 7th. Morgan Stanley boosted their price target 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. Finally, Barclays boosted their price target on shares of Neurocrine Biosciences from $160.00 to $165.00 and gave the stock an “overweight” rating in a research report on Monday, December 23rd. Five equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $166.90.

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.