Cercano Management LLC Acquires Shares of 24,000 Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Cercano Management LLC bought a new stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 24,000 shares of the company's stock, valued at approximately $3,276,000.

A number of other hedge funds have also recently bought and sold shares of the company. Golden State Wealth Management LLC acquired a new stake in shares of Neurocrine Biosciences during the fourth quarter worth $25,000. Huntington National Bank increased its stake in shares of Neurocrine Biosciences by 73.5% during the 4th quarter. Huntington National Bank now owns 229 shares of the company's stock valued at $31,000 after acquiring an additional 97 shares during the last quarter. Brooklyn Investment Group lifted its holdings in shares of 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 acquiring an additional 115 shares during the period. GeoWealth Management LLC grew its stake in shares of Neurocrine Biosciences by 65.4% during the 4th quarter. GeoWealth Management LLC now owns 258 shares of the company's stock valued at $35,000 after buying an additional 102 shares during the period. Finally, Lindbrook Capital LLC raised its holdings in shares of Neurocrine Biosciences by 53.5% in the 4th quarter. Lindbrook Capital LLC now owns 373 shares of the company's stock worth $51,000 after purchasing an additional 130 shares during the period. Institutional investors and hedge funds own 92.59% of the company's stock.

Neurocrine Biosciences Price Performance

Shares of NBIX stock traded down $1.81 during trading hours on Friday, reaching $115.71. 1,319,681 shares of the company were exchanged, compared to its average volume of 1,115,471. The company has a market cap of $11.45 billion, a price-to-earnings ratio of 35.17, a P/E/G ratio of 0.77 and a beta of 0.26. The stock's fifty day moving average is $106.23 and its two-hundred day moving average is $121.85. Neurocrine Biosciences, Inc. has a fifty-two week low of $84.23 and a fifty-two week high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The company reported $0.08 earnings per share for the quarter, missing analysts' consensus estimates of $0.70 by ($0.62). The company had revenue of $572.60 million during the quarter, compared to analyst estimates of $587.06 million. Neurocrine Biosciences had a net margin of 14.49% and a return on equity of 13.38%. The business's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period last year, the company earned $1.20 EPS. On average, research analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.

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

Insider Transactions at Neurocrine Biosciences

In related news, Director Kevin Charles Gorman sold 5,844 shares of the firm's stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $116.69, for a total value of $681,936.36. Following the completion of the transaction, the director now owns 521,618 shares of the company's stock, valued at approximately $60,867,604.42. This trade represents a 1.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William H. Rastetter sold 30,000 shares of the firm's stock in a transaction on Monday, May 5th. The shares were sold at an average price of $110.20, for a total transaction of $3,306,000.00. Following the completion of the transaction, the director now directly owns 37,491 shares of the company's stock, valued at $4,131,508.20. This represents a 44.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 43,907 shares of company stock valued at $4,935,982 over the last 90 days. 4.80% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Piper Sandler restated an "overweight" rating and set a $154.00 target price (down previously from $160.00) on shares of Neurocrine Biosciences in a report on Tuesday, May 6th. Canaccord Genuity Group raised their price objective on shares of Neurocrine Biosciences from $158.00 to $160.00 and gave the stock a "buy" rating in a report on Tuesday, May 6th. BMO Capital Markets raised their price objective 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. Needham & Company LLC increased their price target on Neurocrine Biosciences from $138.00 to $139.00 and gave the stock a "buy" rating in a research report on Tuesday, May 6th. Finally, Morgan Stanley reaffirmed an "overweight" rating and set a $150.00 price target (down previously from $185.00) on shares of Neurocrine Biosciences in a report on Friday, March 7th. Three investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to MarketBeat, Neurocrine Biosciences currently has an average rating of "Moderate Buy" and an average target price of $162.00.

Neurocrine Biosciences 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.