Commonwealth Equity Services LLC Cuts Holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Commonwealth Equity Services LLC reduced its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 8.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,956 shares of the company’s stock after selling 1,320 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Neurocrine Biosciences were worth $1,905,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC acquired a new position in shares of Neurocrine Biosciences during the fourth quarter worth $25,000. Brooklyn Investment Group increased its position in Neurocrine Biosciences by 99.1% during the 4th quarter. Brooklyn Investment Group now owns 231 shares of the company’s stock valued at $32,000 after buying an additional 115 shares in the last quarter. Lindbrook Capital LLC raised its stake in Neurocrine Biosciences by 53.5% in the fourth quarter. Lindbrook Capital LLC now owns 373 shares of the company’s stock valued at $51,000 after buying an additional 130 shares during the last quarter. R Squared Ltd acquired a new stake in Neurocrine Biosciences in the fourth quarter worth about $61,000. Finally, UMB Bank n.a. boosted its stake in Neurocrine Biosciences by 211.6% in 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. Institutional investors own 92.59% of the company’s stock.

Insider Buying and Selling

In other news, CEO Kyle Gano sold 65,000 shares of the stock in a transaction that occurred 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 completion of the sale, 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 transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Kevin Charles Gorman sold 2,707 shares of Neurocrine Biosciences stock in a transaction that occurred on 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 in the company, valued at approximately $79,064,227.60. The trade was a 0.52 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 233,178 shares of company stock worth $33,906,594. 4.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Royal Bank of Canada decreased their price target on shares of Neurocrine Biosciences from $154.00 to $148.00 and set a “sector perform” rating for the company in a report on Friday, February 7th. Barclays raised their target price on Neurocrine Biosciences from $160.00 to $165.00 and gave the stock an “overweight” rating in a research note on Monday, December 23rd. Deutsche Bank Aktiengesellschaft initiated coverage on Neurocrine Biosciences in a research report on Tuesday, February 11th. They issued a “hold” rating and a $138.00 target price on the stock. HC Wainwright reiterated a “buy” rating and issued a $185.00 price objective on shares of Neurocrine Biosciences in a research note on Friday, February 21st. Finally, Canaccord Genuity Group decreased their target price on shares of Neurocrine Biosciences from $172.00 to $163.00 and set a “buy” rating for the company in a research report on Friday, February 7th. Five investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $165.38.

Neurocrine Biosciences Price Performance

NASDAQ NBIX opened at $113.16 on Friday. Neurocrine Biosciences, Inc. has a 1-year low of $105.18 and a 1-year high of $157.98. The company has a market cap of $11.28 billion, a PE ratio of 34.40, a price-to-earnings-growth ratio of 0.77 and a beta of 0.35. The stock’s 50 day simple moving average is $124.17 and its 200-day simple moving average is $124.90.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings results on Thursday, February 6th. The company reported $1.00 earnings per share for the quarter, missing analysts’ consensus estimates of $1.62 by ($0.62). Neurocrine Biosciences had a return on equity of 13.38% and a net margin of 14.49%. On average, equities research analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

Neurocrine Biosciences declared that its Board of Directors has authorized a stock buyback program on Friday, February 21st that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to reacquire up to 4.2% of its shares through open market purchases. Shares buyback programs are usually an indication 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.