Principal Financial Group Inc. Trims Stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Principal Financial Group Inc. decreased its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 0.3% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 252,469 shares of the company’s stock after selling 717 shares during the period. Principal Financial Group Inc. owned about 0.25% of Neurocrine Biosciences worth $34,462,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Golden State Wealth Management LLC purchased a new stake in shares of Neurocrine Biosciences in the 4th quarter worth approximately $25,000. Brooklyn Investment Group grew its stake in shares of Neurocrine Biosciences by 99.1% in the 4th quarter. Brooklyn Investment Group now owns 231 shares of the company’s stock worth $32,000 after buying an additional 115 shares during the last quarter. Blue Trust Inc. grew its stake in shares of Neurocrine Biosciences by 171.9% in the 3rd quarter. Blue Trust Inc. now owns 348 shares of the company’s stock worth $40,000 after buying an additional 220 shares during the last quarter. R Squared Ltd purchased a new stake in shares of Neurocrine Biosciences in the 4th quarter worth approximately $61,000. Finally, UMB Bank n.a. grew its stake in shares of 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 buying an additional 309 shares during the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Neurocrine Biosciences Stock Performance

Shares of Neurocrine Biosciences stock opened at $120.69 on Friday. Neurocrine Biosciences, Inc. has a one year low of $110.95 and a one year high of $157.98. The stock’s fifty day moving average is $136.75 and its 200 day moving average is $129.71. The stock has a market cap of $12.03 billion, a P/E ratio of 36.68, a P/E/G ratio of 0.76 and a beta of 0.33.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its earnings results on Thursday, February 6th. The company reported $1.00 EPS 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%. Analysts predict that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

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

Analyst Ratings Changes

Several analysts recently weighed in on the company. William Blair restated an “outperform” rating on shares of Neurocrine Biosciences in a research note on Friday, February 7th. HC Wainwright restated a “buy” rating and issued a $185.00 price target on shares of Neurocrine Biosciences in a research note on Friday. Wedbush cut their price target on Neurocrine Biosciences from $157.00 to $147.00 and set an “outperform” rating on the stock in a research note on Friday, February 7th. Canaccord Genuity Group cut their target price on Neurocrine Biosciences from $172.00 to $163.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. Finally, Morgan Stanley increased their target price on Neurocrine Biosciences from $170.00 to $185.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. Five research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Neurocrine Biosciences presently has a consensus rating of “Moderate Buy” and an average target price of $166.90.

Insider Buying and Selling

In other Neurocrine Biosciences news, Director Kevin Charles Gorman sold 5,844 shares of the firm’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $116.69, for a total transaction of $681,936.36. Following the sale, the director now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Julie Cooke sold 1,740 shares of the firm’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $152.89, for a total value of $266,028.60. Following the sale, the insider now directly owns 18,202 shares in the company, valued at approximately $2,782,903.78. This represents a 8.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 236,600 shares of company stock valued at $34,348,261. 4.30% of the stock is owned by company 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.