Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Shares Acquired by GAMMA Investing LLC

GAMMA Investing LLC lifted its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 9,446.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 219,099 shares of the company's stock after purchasing an additional 216,804 shares during the period. GAMMA Investing LLC owned approximately 0.22% of Neurocrine Biosciences worth $24,232,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in NBIX. Dodge & Cox increased its holdings in Neurocrine Biosciences by 134.2% in the fourth quarter. Dodge & Cox now owns 3,016,425 shares of the company's stock valued at $411,742,000 after buying an additional 1,728,605 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Neurocrine Biosciences in the 4th quarter valued at approximately $115,193,000. Wellington Management Group LLP increased its stake in Neurocrine Biosciences by 102.9% in the 4th quarter. Wellington Management Group LLP now owns 1,457,425 shares of the company's stock valued at $198,939,000 after purchasing an additional 739,199 shares in the last quarter. Thrivent Financial for Lutherans raised its holdings in Neurocrine Biosciences by 2,759.4% during the fourth quarter. Thrivent Financial for Lutherans now owns 737,772 shares of the company's stock worth $100,705,000 after purchasing an additional 711,970 shares during the last quarter. Finally, Orbimed Advisors LLC boosted its position in Neurocrine Biosciences by 210.4% during the fourth quarter. Orbimed Advisors LLC now owns 938,120 shares of the company's stock worth $128,053,000 after purchasing an additional 635,900 shares in the last quarter. Hedge funds and other institutional investors own 92.59% of the company's stock.

Insider Activity

In related news, Director Kevin Charles Gorman sold 9,613 shares of Neurocrine Biosciences stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $120.38, for a total value of $1,157,212.94. Following the transaction, the director now owns 514,596 shares in the company, valued at approximately $61,947,066.48. This trade represents a 1.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William H. Rastetter sold 30,000 shares of the company's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $110.20, for a total value of $3,306,000.00. Following the sale, the director now 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. Corporate insiders own 4.80% of the company's stock.

Neurocrine Biosciences Trading Up 0.6%

Shares of NASDAQ NBIX traded up $0.78 on Friday, reaching $125.39. 860,428 shares of the company traded hands, compared to its average volume of 1,138,206. The stock has a market capitalization of $12.41 billion, a PE ratio of 38.11, a P/E/G ratio of 0.77 and a beta of 0.24. 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 50 day moving average of $110.03 and a 200 day moving average of $121.90.

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

Neurocrine Biosciences declared that its board has approved a stock buyback plan on Friday, February 21st that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 4.2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board believes its stock is undervalued.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on NBIX shares. HC Wainwright dropped their price target on Neurocrine Biosciences from $185.00 to $168.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Needham & Company LLC lifted their target price on shares of Neurocrine Biosciences from $138.00 to $139.00 and gave the stock a "buy" rating in a research report on Tuesday, May 6th. Wedbush reaffirmed an "outperform" rating on shares of Neurocrine Biosciences in a report on Tuesday, May 6th. JPMorgan Chase & Co. raised their price objective on shares of Neurocrine Biosciences from $183.00 to $184.00 and gave the stock an "overweight" rating in a research note on Wednesday, March 26th. Finally, 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 report on Friday, March 7th. Three investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat, Neurocrine Biosciences has an average rating of "Moderate Buy" and a consensus 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.