Massachusetts Financial Services Co. MA Sells 12,723 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Massachusetts Financial Services Co. MA lowered its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 7.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 150,331 shares of the company’s stock after selling 12,723 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.15% of Neurocrine Biosciences worth $20,520,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Golden State Wealth Management LLC bought a new stake in shares of Neurocrine Biosciences during the fourth quarter valued at approximately $25,000. Brooklyn Investment Group lifted its holdings in Neurocrine Biosciences by 99.1% during the 4th quarter. Brooklyn Investment Group now owns 231 shares of the company’s stock worth $32,000 after buying an additional 115 shares in the last quarter. Lindbrook Capital LLC boosted its position in Neurocrine Biosciences by 53.5% in the 4th 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 shares of Neurocrine Biosciences in the 4th quarter valued at $61,000. Finally, UMB Bank n.a. raised its position in shares of Neurocrine Biosciences by 211.6% during the fourth quarter. UMB Bank n.a. now owns 455 shares of the company’s stock worth $62,000 after acquiring an additional 309 shares during the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. HC Wainwright reiterated a “buy” rating and issued a $185.00 price objective on shares of Neurocrine Biosciences in a research report on Friday, February 21st. 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 note on Monday, December 23rd. StockNews.com lowered shares of Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 20th. Deutsche Bank Aktiengesellschaft began coverage on shares of Neurocrine Biosciences in a report on Tuesday, February 11th. They set a “hold” rating and a $138.00 target price for the company. Finally, Needham & Company LLC reissued a “hold” rating on shares of Neurocrine Biosciences in a research note on Friday, February 7th. Five investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Neurocrine Biosciences presently has a consensus rating of “Moderate Buy” and an average price target of $163.52.

Neurocrine Biosciences Trading Down 7.0 %

Shares of NASDAQ NBIX opened at $95.65 on Monday. The company has a fifty day moving average price of $120.01 and a 200 day moving average price of $124.37. The firm has a market cap of $9.54 billion, a PE ratio of 29.07, a PEG ratio of 0.77 and a beta of 0.33. Neurocrine Biosciences, Inc. has a 1-year low of $93.40 and a 1-year high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings data 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%. Equities research analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

Neurocrine Biosciences declared that its board has approved 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 reacquire up to 4.2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

Insider Transactions at Neurocrine Biosciences

In related news, CEO Kyle Gano sold 65,000 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $141.50, for a total transaction of $9,197,500.00. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Ingrid Delaet sold 623 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $149.29, for a total value of $93,007.67. Following the transaction, the insider now directly owns 3,442 shares in the company, valued at $513,856.18. This trade represents a 15.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 232,906 shares of company stock valued at $33,869,030 in the last ninety days. 4.30% of the stock is currently owned by corporate insiders.

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.