Summit Investment Advisors Inc. Sells 437 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Summit Investment Advisors Inc. reduced its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 2.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 20,279 shares of the company’s stock after selling 437 shares during the period. Summit Investment Advisors Inc.’s holdings in Neurocrine Biosciences were worth $2,768,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in NBIX. Quantinno Capital Management LP grew its stake in shares of Neurocrine Biosciences by 25.0% in the 3rd quarter. Quantinno Capital Management LP now owns 2,239 shares of the company’s stock valued at $258,000 after purchasing an additional 448 shares during the period. National Bank of Canada FI grew its position in Neurocrine Biosciences by 83.3% in the third quarter. National Bank of Canada FI now owns 1,351 shares of the company’s stock valued at $156,000 after acquiring an additional 614 shares during the period. Geode Capital Management LLC raised its stake in Neurocrine Biosciences by 2.2% during the third quarter. Geode Capital Management LLC now owns 1,859,232 shares of the company’s stock worth $213,773,000 after acquiring an additional 39,610 shares in the last quarter. Coldstream Capital Management Inc. lifted its holdings in shares of Neurocrine Biosciences by 15.2% during the third quarter. Coldstream Capital Management Inc. now owns 3,917 shares of the company’s stock valued at $452,000 after acquiring an additional 516 shares during the period. Finally, Toronto Dominion Bank boosted its stake in shares of Neurocrine Biosciences by 32.8% in the 3rd quarter. Toronto Dominion Bank now owns 12,684 shares of the company’s stock valued at $1,461,000 after purchasing an additional 3,131 shares in the last quarter. Institutional investors own 92.59% of the company’s stock.

Neurocrine Biosciences Stock Up 0.2 %

NASDAQ NBIX opened at $90.87 on Monday. Neurocrine Biosciences, Inc. has a 12-month low of $84.23 and a 12-month high of $157.98. The firm’s 50 day moving average is $111.68 and its 200-day moving average is $123.06. The company has a market capitalization of $9.06 billion, a PE ratio of 27.62, a price-to-earnings-growth ratio of 0.77 and a beta of 0.33.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings results 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%. As a group, sell-side analysts expect that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

Neurocrine Biosciences announced that its board has initiated a share buyback plan on Friday, February 21st that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to repurchase up to 4.2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other news, CEO Kyle Gano sold 65,000 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 135,392 shares of the company’s stock, valued at approximately $19,157,968. This represents a 32.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kevin Charles Gorman sold 5,844 shares of the firm’s stock in a transaction dated 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 sale, the director now owns 521,618 shares of the company’s stock, valued at $60,867,604.42. This trade represents a 1.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 232,906 shares of company stock worth $33,869,030. Corporate insiders own 4.30% of the company’s stock.

Analyst Upgrades and Downgrades

NBIX has been the subject of a number of recent analyst reports. StockNews.com cut shares of Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 20th. Needham & Company LLC reiterated a “hold” rating on shares of Neurocrine Biosciences in a research note on Friday, February 7th. Royal Bank of Canada decreased their price target on Neurocrine Biosciences from $154.00 to $148.00 and set a “sector perform” rating on the stock in a research report on Friday, February 7th. William Blair reiterated an “outperform” rating on shares of Neurocrine Biosciences in a research report on Friday, February 7th. Finally, Wedbush decreased their target price on Neurocrine Biosciences from $157.00 to $147.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. Five investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Neurocrine Biosciences has a consensus rating of “Moderate Buy” and a consensus target price of $163.52.

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.