Triglav Skladi D.O.O. Acquires Shares of 11,000 Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Triglav Skladi D.O.O. acquired a new position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 11,000 shares of the company's stock, valued at approximately $1,502,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. OneDigital Investment Advisors LLC lifted its stake in Neurocrine Biosciences by 2.1% in the fourth quarter. OneDigital Investment Advisors LLC now owns 4,215 shares of the company's stock valued at $575,000 after buying an additional 87 shares during the last quarter. HighPoint Advisor Group LLC raised its stake in shares of Neurocrine Biosciences by 4.1% during the fourth quarter. HighPoint Advisor Group LLC now owns 2,446 shares of the company's stock valued at $334,000 after purchasing an additional 96 shares in the last quarter. 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 purchasing an additional 97 shares in the last quarter. Louisiana State Employees Retirement System raised its stake in shares of Neurocrine Biosciences by 0.4% during the fourth quarter. Louisiana State Employees Retirement System now owns 28,100 shares of the company's stock valued at $3,836,000 after purchasing an additional 100 shares in the last quarter. Finally, Utah Retirement Systems raised its stake in shares of Neurocrine Biosciences by 0.6% during the fourth quarter. Utah Retirement Systems now owns 16,583 shares of the company's stock valued at $2,264,000 after purchasing an additional 100 shares in the last quarter. 92.59% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

NBIX has been the topic of a number of recent analyst reports. Morgan Stanley restated an "overweight" rating and set a $150.00 price objective (down from $185.00) on shares of Neurocrine Biosciences in a research note on Friday, March 7th. JPMorgan Chase & Co. boosted their price target on shares of Neurocrine Biosciences from $183.00 to $184.00 and gave the stock an "overweight" rating in a research report on Wednesday, March 26th. Wedbush reiterated an "outperform" rating on shares of Neurocrine Biosciences in a research report on Tuesday, May 6th. BMO Capital Markets boosted their price target on shares of Neurocrine Biosciences from $96.00 to $115.00 and gave the stock a "market perform" rating in a research report on Tuesday, May 6th. Finally, UBS Group boosted their price target on shares of Neurocrine Biosciences from $137.00 to $152.00 and gave the stock a "buy" rating in a research report on Tuesday, May 6th. Three analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat, Neurocrine Biosciences presently has a consensus rating of "Moderate Buy" and an average target price of $162.00.

Neurocrine Biosciences Trading Down 1.2%

NASDAQ:NBIX traded down $1.44 on Thursday, hitting $119.12. 875,941 shares of the company's stock traded hands, compared to its average volume of 1,132,341. Neurocrine Biosciences, Inc. has a 1 year low of $84.23 and a 1 year high of $157.98. The firm has a 50-day moving average price of $107.77 and a 200-day moving average price of $121.93. The company has a market cap of $11.79 billion, a PE ratio of 36.21, a price-to-earnings-growth ratio of 0.77 and a beta of 0.26.

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

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

Insider Buying and Selling

In other news, Director William H. Rastetter sold 30,000 shares of the company's stock in a transaction that occurred on Monday, May 5th. The stock was 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 in the company, valued at $4,131,508.20. The trade was a 44.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 4.30% of the company's stock.

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.