Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Position Lifted by Baird Financial Group Inc.

Baird Financial Group Inc. lifted its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 82.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 54,717 shares of the company's stock after purchasing an additional 24,657 shares during the quarter. Baird Financial Group Inc. owned about 0.05% of Neurocrine Biosciences worth $7,469,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Golden State Wealth Management LLC purchased a new position in Neurocrine Biosciences during the fourth quarter valued at $25,000. Huntington National Bank raised its stake in shares of Neurocrine Biosciences by 73.5% during the fourth quarter. Huntington National Bank now owns 229 shares of the company's stock valued at $31,000 after acquiring an additional 97 shares in the last quarter. Brooklyn Investment Group raised its stake in shares of Neurocrine Biosciences by 99.1% during the fourth 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. GeoWealth Management LLC raised its stake in Neurocrine Biosciences by 65.4% in the fourth quarter. GeoWealth Management LLC now owns 258 shares of the company's stock worth $35,000 after buying an additional 102 shares in the last quarter. Finally, Lindbrook Capital LLC raised its stake in Neurocrine Biosciences by 53.5% in the fourth quarter. Lindbrook Capital LLC now owns 373 shares of the company's stock worth $51,000 after buying an additional 130 shares in the last quarter. 92.59% of the stock is owned by institutional investors.

Neurocrine Biosciences Price Performance

Shares of Neurocrine Biosciences stock traded up $4.72 during trading on Monday, hitting $120.43. 1,699,327 shares of the stock were exchanged, compared to its average volume of 1,117,807. The stock has a market cap of $11.92 billion, a price-to-earnings ratio of 36.60, a price-to-earnings-growth ratio of 0.77 and a beta of 0.26. The firm's 50-day moving average price is $106.23 and its 200 day moving average price is $121.89. Neurocrine Biosciences, Inc. has a 12-month low of $84.23 and a 12-month high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last posted its quarterly earnings data 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 net margin of 14.49% and a return on equity of 13.38%. The business had revenue of $572.60 million during the quarter, compared to analyst estimates of $587.06 million. During the same quarter in the prior year, the firm posted $1.20 earnings per share. The company's revenue for the quarter was up 11.1% compared to the same quarter last year. As a group, research analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.

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

Wall Street Analyst Weigh In

Several equities research analysts have commented on NBIX shares. HC Wainwright lowered their price target on shares of Neurocrine Biosciences from $185.00 to $168.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. StockNews.com downgraded shares of Neurocrine Biosciences from a "strong-buy" rating to a "buy" rating in a report on Thursday, March 20th. William Blair reiterated an "outperform" rating on shares of Neurocrine Biosciences in a report on Friday, February 7th. BMO Capital Markets increased their price target on shares of Neurocrine Biosciences from $96.00 to $115.00 and gave the company a "market perform" rating in a research note on Tuesday, May 6th. Finally, Royal Bank of Canada increased their price target on shares of Neurocrine Biosciences from $137.00 to $145.00 and gave the company an "outperform" rating in a research note 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 data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $162.00.

Insider Buying and Selling at Neurocrine Biosciences

In related news, insider Julie Cooke sold 1,551 shares of the company's stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $116.78, for a total transaction of $181,125.78. Following the completion of the transaction, 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kevin Charles Gorman sold 5,844 shares of the company's stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $116.69, for a total transaction of $681,936.36. Following the transaction, 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 position. The disclosure for this sale can be found here. Insiders have sold 39,953 shares of company stock valued at $4,467,990 over the last quarter. Corporate 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.