Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Shares Acquired by Cetera Investment Advisers

Cetera Investment Advisers raised its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 46.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 8,169 shares of the company's stock after buying an additional 2,593 shares during the quarter. Cetera Investment Advisers' holdings in Neurocrine Biosciences were worth $1,115,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Caprock Group LLC acquired a new position in Neurocrine Biosciences during the 4th quarter valued at about $236,000. Charles Schwab Investment Management Inc. grew its stake in shares of Neurocrine Biosciences by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 762,557 shares of the company's stock worth $104,089,000 after acquiring an additional 15,266 shares during the last quarter. Oakworth Capital Inc. acquired a new position in shares of Neurocrine Biosciences during the fourth quarter valued at about $379,000. Avantax Advisory Services Inc. increased its holdings in shares of Neurocrine Biosciences by 11.4% during the fourth quarter. Avantax Advisory Services Inc. now owns 2,895 shares of the company's stock valued at $395,000 after acquiring an additional 297 shares in the last quarter. Finally, Synergy Asset Management LLC purchased a new position in shares of Neurocrine Biosciences in the 4th quarter valued at approximately $996,000. 92.59% of the stock is currently owned by institutional investors.

Insider Transactions at Neurocrine Biosciences

In related news, Director William H. Rastetter sold 30,000 shares of Neurocrine Biosciences 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 transaction, the director now owns 37,491 shares in the company, valued at approximately $4,131,508.20. This trade represents a 44.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 4.80% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on NBIX. Wedbush restated an "outperform" rating on shares of Neurocrine Biosciences in a research note on Tuesday, May 6th. Wall Street Zen lowered Neurocrine Biosciences from a "strong-buy" rating to a "buy" rating in a research note on Thursday, March 20th. JPMorgan Chase & Co. boosted their price target on Neurocrine Biosciences from $183.00 to $184.00 and gave the company an "overweight" rating in a research note on Wednesday, March 26th. Royal Bank of Canada raised their price objective on Neurocrine Biosciences from $137.00 to $145.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 6th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Neurocrine Biosciences in a research note on Tuesday, February 11th. They issued a "hold" rating and a $138.00 price objective on the stock. 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 presently has a consensus rating of "Moderate Buy" and a consensus price target of $162.00.

Neurocrine Biosciences Stock Performance

Shares of NBIX traded up $0.79 during mid-day trading on Wednesday, hitting $123.43. 93,327 shares of the company were exchanged, compared to its average volume of 1,451,718. The stock has a market cap of $12.22 billion, a price-to-earnings ratio of 37.54, a price-to-earnings-growth ratio of 0.77 and a beta of 0.26. Neurocrine Biosciences, Inc. has a 1-year low of $84.23 and a 1-year high of $157.98. The company has a 50 day moving average of $108.59 and a 200-day moving average of $121.84.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $587.06 million. During the same period in the prior year, the firm earned $1.20 earnings per share. The business's revenue was up 11.1% on a year-over-year basis. Research analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

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

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.