194,728 Shares in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Bought by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. purchased a new position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 194,728 shares of the company's stock, valued at approximately $26,580,000. Balyasny Asset Management L.P. owned approximately 0.19% of Neurocrine Biosciences at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Algert Global LLC boosted its holdings in Neurocrine Biosciences by 86.0% in the 4th quarter. Algert Global LLC now owns 34,166 shares of the company's stock valued at $4,664,000 after purchasing an additional 15,800 shares during the last quarter. Alyeska Investment Group L.P. acquired a new position in Neurocrine Biosciences in the fourth quarter valued at approximately $33,979,000. AXA S.A. lifted its holdings in Neurocrine Biosciences by 10.6% in the fourth quarter. AXA S.A. now owns 297,704 shares of the company's stock valued at $40,637,000 after acquiring an additional 28,532 shares during the last quarter. AlTi Global Inc. acquired a new stake in Neurocrine Biosciences during the fourth quarter worth $729,000. Finally, Mercer Global Advisors Inc. ADV increased its stake in Neurocrine Biosciences by 52.0% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 12,112 shares of the company's stock worth $1,653,000 after acquiring an additional 4,143 shares during the last quarter. 92.59% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Kevin Charles Gorman sold 5,844 shares of the business's stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $116.69, for a total value of $681,936.36. Following the completion of the sale, the director now directly owns 521,618 shares of the company's stock, valued at approximately $60,867,604.42. The trade was a 1.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director William H. Rastetter sold 30,000 shares of the business's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $110.20, for a total value of $3,306,000.00. Following the completion of the sale, the director now directly owns 37,491 shares of the company's stock, valued at $4,131,508.20. The trade was a 44.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 39,953 shares of company stock worth $4,467,990 in the last 90 days. Corporate insiders own 4.80% of the company's stock.

Neurocrine Biosciences Stock Up 3.4%

NASDAQ NBIX traded up $3.92 on Monday, hitting $119.63. 436,495 shares of the stock were exchanged, compared to its average volume of 1,112,897. Neurocrine Biosciences, Inc. has a fifty-two week low of $84.23 and a fifty-two week high of $157.98. The company has a market cap of $11.84 billion, a PE ratio of 36.40, a PEG ratio of 0.77 and a beta of 0.26. The company has a 50-day moving average price of $106.23 and a 200-day moving average price of $121.89.

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

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

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. UBS Group raised their target price on Neurocrine Biosciences from $137.00 to $152.00 and gave the stock a "buy" rating in a research note on Tuesday, May 6th. Bank of America reduced their price target on shares of Neurocrine Biosciences from $184.00 to $179.00 and set a "buy" rating on the stock in a research note on Friday, February 7th. Guggenheim boosted their price target on shares of Neurocrine Biosciences from $155.00 to $165.00 and gave the company a "buy" rating in a research note on Tuesday, May 6th. Royal Bank of Canada boosted 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. Finally, JPMorgan Chase & Co. boosted their price target on shares of Neurocrine Biosciences from $183.00 to $184.00 and gave the company an "overweight" rating in a research note on Wednesday, March 26th. Three equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat, Neurocrine Biosciences has an average rating of "Moderate Buy" and an average price target of $162.00.

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.