Primecap Management Co. CA Sells 10,290 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Primecap Management Co. CA lessened its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 2.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 393,710 shares of the company’s stock after selling 10,290 shares during the quarter. Primecap Management Co. CA owned approximately 0.39% of Neurocrine Biosciences worth $53,741,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in NBIX. Golden State Wealth Management LLC purchased a new position in Neurocrine Biosciences during the fourth quarter valued at $25,000. Brooklyn Investment Group grew its holdings in shares of Neurocrine Biosciences by 99.1% in the fourth quarter. Brooklyn Investment Group now owns 231 shares of the company’s stock worth $32,000 after acquiring an additional 115 shares during the period. Lindbrook Capital LLC grew its holdings in Neurocrine Biosciences by 53.5% during the fourth quarter. Lindbrook Capital LLC now owns 373 shares of the company’s stock valued at $51,000 after purchasing an additional 130 shares during the period. R Squared Ltd bought a new stake in Neurocrine Biosciences during the fourth quarter valued at about $61,000. Finally, UMB Bank n.a. grew its holdings in Neurocrine Biosciences by 211.6% during the fourth quarter. UMB Bank n.a. now owns 455 shares of the company’s stock valued at $62,000 after purchasing an additional 309 shares during the period. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Neurocrine Biosciences Trading Down 1.6 %

Shares of NBIX stock opened at $109.70 on Wednesday. The business’s fifty day simple moving average is $128.62 and its 200-day simple moving average is $125.47. Neurocrine Biosciences, Inc. has a 12-month low of $105.18 and a 12-month high of $157.98. The company has a market cap of $10.94 billion, a PE ratio of 33.34, a PEG ratio of 0.77 and a beta of 0.35.

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

Neurocrine Biosciences declared that its board has initiated 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 purchase up to 4.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Neurocrine Biosciences

In related news, insider Ingrid Delaet sold 272 shares of the company’s stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $138.10, for a total value of $37,563.20. Following the transaction, the insider now directly owns 2,507 shares of the company’s stock, valued at $346,216.70. This represents a 9.79 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kevin Charles Gorman sold 5,844 shares of Neurocrine Biosciences stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $116.69, for a total value of $681,936.36. Following the sale, the director now directly owns 521,618 shares of the company’s stock, valued at approximately $60,867,604.42. This represents a 1.11 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, 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 Analyst Weigh In

Several analysts have issued reports on NBIX shares. Canaccord Genuity Group cut their price target on Neurocrine Biosciences from $172.00 to $163.00 and set a “buy” rating for the company in a report on Friday, February 7th. Wedbush cut their price target on Neurocrine Biosciences from $157.00 to $147.00 and set an “outperform” rating for the company in a report on Friday, February 7th. Barclays boosted their price target on Neurocrine Biosciences from $160.00 to $165.00 and gave the company an “overweight” rating in a report on Monday, December 23rd. UBS Group boosted their price objective on Neurocrine Biosciences from $162.00 to $176.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Finally, Bank of America lowered their price objective on Neurocrine Biosciences from $184.00 to $179.00 and set a “buy” rating on the stock in a research report on Friday, February 7th. Five investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $165.24.

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.