Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Stock Holdings Boosted by GAMMA Investing LLC

GAMMA Investing LLC raised its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 9,446.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 219,099 shares of the company's stock after buying an additional 216,804 shares during the period. GAMMA Investing LLC owned approximately 0.22% of Neurocrine Biosciences worth $24,232,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Versant Capital Management Inc boosted its holdings in Neurocrine Biosciences by 404.9% in the first quarter. Versant Capital Management Inc now owns 409 shares of the company's stock valued at $45,000 after purchasing an additional 328 shares during the last quarter. California State Teachers Retirement System raised its position in shares of Neurocrine Biosciences by 1.8% in the 4th quarter. California State Teachers Retirement System now owns 136,549 shares of the company's stock valued at $18,639,000 after purchasing an additional 2,389 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Neurocrine Biosciences by 199.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 16,886 shares of the company's stock valued at $2,305,000 after purchasing an additional 11,240 shares in the last quarter. NorthCrest Asset Manangement LLC boosted its stake in shares of Neurocrine Biosciences by 29.0% during the 4th quarter. NorthCrest Asset Manangement LLC now owns 6,643 shares of the company's stock valued at $907,000 after buying an additional 1,493 shares during the last quarter. Finally, Lansforsakringar Fondforvaltning AB publ acquired a new stake in shares of Neurocrine Biosciences during the fourth quarter worth approximately $4,429,000. 92.59% of the stock is owned by hedge funds and other institutional investors.

Neurocrine Biosciences Stock Up 0.6%

NASDAQ NBIX traded up $0.78 during trading hours on Friday, hitting $125.39. The company had a trading volume of 860,428 shares, compared to its average volume of 1,141,772. The firm has a market cap of $12.41 billion, a P/E ratio of 38.11, a price-to-earnings-growth 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 business has a fifty day simple moving average of $110.40 and a 200-day simple moving average of $121.93.

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

Neurocrine Biosciences announced that its Board of Directors has authorized a share repurchase program on Friday, February 21st that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 4.2% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's management believes its stock is undervalued.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. BMO Capital Markets upped their price target on shares of Neurocrine Biosciences from $96.00 to $115.00 and gave the company a "market perform" rating in a report on Tuesday, May 6th. Morgan Stanley reissued an "overweight" rating and issued a $150.00 target price (down previously from $185.00) on shares of Neurocrine Biosciences in a research report on Friday, March 7th. JPMorgan Chase & Co. increased 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. HC Wainwright decreased their price target on Neurocrine Biosciences from $185.00 to $168.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Finally, Wall Street Zen cut Neurocrine Biosciences from a "strong-buy" rating to a "buy" rating in a research note on Thursday, March 20th. Three research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $162.00.

Insiders Place Their Bets

In related news, Director William H. Rastetter sold 30,000 shares of Neurocrine Biosciences stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $110.20, for a total transaction of $3,306,000.00. Following the sale, 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kevin Charles Gorman sold 9,613 shares of the company's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $120.38, for a total transaction of $1,157,212.94. Following the completion of the sale, the director now directly owns 514,596 shares of the company's stock, valued at $61,947,066.48. The trade was a 1.83% decrease in their position. The disclosure for this sale can be found here. 4.80% of the stock is owned by insiders.

Neurocrine Biosciences 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.