First Horizon Advisors Inc. Has $118,000 Stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

First Horizon Advisors Inc. cut its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 14.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 865 shares of the company’s stock after selling 142 shares during the period. First Horizon Advisors Inc.’s holdings in Neurocrine Biosciences were worth $118,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC acquired a new position in shares of Neurocrine Biosciences during the fourth quarter worth about $25,000. Brooklyn Investment Group lifted its stake in Neurocrine Biosciences by 99.1% in the 4th quarter. Brooklyn Investment Group now owns 231 shares of the company’s stock valued at $32,000 after acquiring an additional 115 shares in the last quarter. Blue Trust Inc. boosted its position in Neurocrine Biosciences by 171.9% during the 3rd quarter. Blue Trust Inc. now owns 348 shares of the company’s stock worth $40,000 after acquiring an additional 220 shares during the last quarter. R Squared Ltd acquired a new position in Neurocrine Biosciences during the 4th quarter worth approximately $61,000. Finally, UMB Bank n.a. grew its stake in shares of Neurocrine Biosciences by 211.6% during the 4th quarter. UMB Bank n.a. now owns 455 shares of the company’s stock worth $62,000 after acquiring an additional 309 shares in the last quarter. Institutional investors own 92.59% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Wedbush reduced their target price on shares of Neurocrine Biosciences from $157.00 to $147.00 and set an “outperform” rating for the company in a report on Friday, February 7th. Morgan Stanley increased their price objective on shares of Neurocrine Biosciences from $170.00 to $185.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. Royal Bank of Canada decreased their price objective on Neurocrine Biosciences from $154.00 to $148.00 and set a “sector perform” rating for the company in a report on Friday, February 7th. Deutsche Bank Aktiengesellschaft initiated coverage on Neurocrine Biosciences in a report on Tuesday, February 11th. They set a “hold” rating and a $138.00 target price on the stock. Finally, William Blair reissued an “outperform” 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 issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $166.90.

Insider Activity at Neurocrine Biosciences

In other Neurocrine Biosciences news, CFO Matt Abernethy sold 2,558 shares of the stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $116.86, for a total transaction of $298,927.88. Following the transaction, the chief financial officer now owns 34,775 shares in the company, valued at $4,063,806.50. This represents a 6.85 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jude Onyia sold 2,331 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $126.29, for a total transaction of $294,381.99. Following the transaction, the insider now directly owns 15,449 shares in the company, valued at $1,951,054.21. This represents a 13.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 236,600 shares of company stock worth $34,348,261. Corporate insiders own 4.30% of the company’s stock.

Neurocrine Biosciences Trading Up 1.5 %

Neurocrine Biosciences stock opened at $117.59 on Thursday. The company has a market capitalization of $11.72 billion, a price-to-earnings ratio of 35.74, a PEG ratio of 0.77 and a beta of 0.33. Neurocrine Biosciences, Inc. has a 12 month low of $110.95 and a 12 month high of $157.98. The stock’s 50 day moving average is $135.94 and its 200-day moving average is $128.89.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings data 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 net margin of 14.49% and a return on equity of 13.38%. As a group, equities research analysts predict that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

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

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.