Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Stake Decreased by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. trimmed its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 4.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,057 shares of the company’s stock after selling 243 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Neurocrine Biosciences were worth $690,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Allstate Corp bought a new position in shares of Neurocrine Biosciences in the fourth quarter worth $397,000. DnB Asset Management AS increased its stake in Neurocrine Biosciences by 3.1% during the 4th quarter. DnB Asset Management AS now owns 118,227 shares of the company’s stock valued at $16,138,000 after buying an additional 3,500 shares during the period. denkapparat Operations GmbH bought a new stake in shares of Neurocrine Biosciences during the 4th quarter worth about $285,000. New Age Alpha Advisors LLC acquired a new stake in shares of Neurocrine Biosciences in the 4th quarter worth approximately $3,053,000. Finally, Norges Bank acquired a new stake in shares of Neurocrine Biosciences in the 4th quarter worth approximately $44,403,000. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Neurocrine Biosciences news, Director Kevin Charles Gorman sold 2,707 shares of the stock in a transaction 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 transaction, the director now directly owns 517,030 shares of the company’s stock, valued at $79,064,227.60. This represents a 0.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Ingrid Delaet sold 272 shares of the firm’s stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $138.10, for a total value of $37,563.20. Following the transaction, the insider now owns 2,507 shares in the company, valued at approximately $346,216.70. This trade represents a 9.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 233,178 shares of company stock worth $33,906,594. Insiders own 4.30% of the company’s stock.

Neurocrine Biosciences Trading Down 0.7 %

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 firm’s fifty day simple moving average is $124.17 and its 200-day simple moving average is $124.94. The company has a market capitalization 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.

Neurocrine Biosciences (NASDAQ:NBIX) last issued 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%. As a group, analysts predict that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

Neurocrine Biosciences declared that its Board of Directors has authorized a share buyback plan on Friday, February 21st that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 4.2% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Morgan Stanley reissued an “overweight” rating and set a $150.00 target price (down previously from $185.00) on shares of Neurocrine Biosciences in a report on Friday, March 7th. Bank of America dropped their price objective on Neurocrine Biosciences from $184.00 to $179.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. UBS Group raised their target price on Neurocrine Biosciences from $162.00 to $176.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Royal Bank of Canada dropped their price target on shares of 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. Finally, Needham & Company LLC restated a “hold” rating on shares of Neurocrine Biosciences in a research report on Friday, February 7th. Five equities research 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.com, Neurocrine Biosciences has an average rating of “Moderate Buy” and a consensus price target of $165.38.

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.