Parkman Healthcare Partners LLC Sells 14,113 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Parkman Healthcare Partners LLC decreased its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 10.9% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 115,727 shares of the company’s stock after selling 14,113 shares during the period. Neurocrine Biosciences accounts for 2.1% of Parkman Healthcare Partners LLC’s investment portfolio, making the stock its 15th largest position. Parkman Healthcare Partners LLC’s holdings in Neurocrine Biosciences were worth $15,797,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Caprock Group LLC purchased a new stake in shares of Neurocrine Biosciences in the fourth quarter worth about $236,000. Charles Schwab Investment Management Inc. increased its holdings in Neurocrine Biosciences by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 762,557 shares of the company’s stock worth $104,089,000 after acquiring an additional 15,266 shares during the period. Oakworth Capital Inc. purchased a new stake in Neurocrine Biosciences in the 4th quarter worth approximately $379,000. Avantax Advisory Services Inc. lifted its stake in Neurocrine Biosciences by 11.4% in the 4th quarter. Avantax Advisory Services Inc. now owns 2,895 shares of the company’s stock worth $395,000 after purchasing an additional 297 shares in the last quarter. Finally, Synergy Asset Management LLC bought a new position in Neurocrine Biosciences in the 4th quarter valued at $996,000. Institutional investors own 92.59% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. StockNews.com cut shares of Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 20th. William Blair restated an “outperform” rating on shares of Neurocrine Biosciences in a research report on Friday, February 7th. BMO Capital Markets upped their target price on Neurocrine Biosciences from $96.00 to $115.00 and gave the stock a “market perform” rating in a research note on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft began coverage on Neurocrine Biosciences in a research report on Tuesday, February 11th. They set a “hold” rating and a $138.00 price target for the company. Finally, UBS Group boosted their price objective on Neurocrine Biosciences from $137.00 to $152.00 and gave the stock a “buy” rating in a report on Tuesday, May 6th. Three research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $162.00.

Neurocrine Biosciences Stock Performance

Shares of NBIX opened at $116.87 on Wednesday. Neurocrine Biosciences, Inc. has a fifty-two week low of $84.23 and a fifty-two week high of $157.98. The firm has a market cap of $11.57 billion, a price-to-earnings ratio of 35.52, a PEG ratio of 0.77 and a beta of 0.26. The firm has a 50 day moving average price of $106.44 and a 200-day moving average price of $121.89.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its earnings results on Monday, May 5th. The company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.62). Neurocrine Biosciences had a return on equity of 13.38% and a net margin of 14.49%. The business had revenue of $572.60 million during the quarter, compared to analysts’ expectations of $587.06 million. During the same quarter in the previous year, the business earned $1.20 EPS. Neurocrine Biosciences’s revenue for the quarter was up 11.1% compared to the same quarter last year. As a group, equities research analysts predict that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.

Neurocrine Biosciences declared that its board has approved a share repurchase plan 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 shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Neurocrine Biosciences

In other Neurocrine Biosciences news, CFO Matt Abernethy sold 2,558 shares of Neurocrine Biosciences stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $116.86, for a total value of $298,927.88. Following the transaction, the chief financial officer now directly owns 34,775 shares of the company’s stock, valued at $4,063,806.50. The trade was a 6.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Julie Cooke sold 1,551 shares of the stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $116.78, for a total transaction of $181,125.78. Following the sale, the insider now owns 19,544 shares of the company’s stock, valued at approximately $2,282,348.32. This represents a 7.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 39,953 shares of company stock worth $4,467,990. Company insiders own 4.80% of the company’s stock.

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.