GF Fund Management CO. LTD. Invests $290,000 in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

GF Fund Management CO. LTD. purchased a new position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 2,126 shares of the company's stock, valued at approximately $290,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC acquired a new position in Neurocrine Biosciences during the fourth quarter worth $25,000. Huntington National Bank increased its stake in Neurocrine Biosciences by 73.5% in 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 during the last quarter. GeoWealth Management LLC increased its stake in Neurocrine Biosciences by 65.4% in the fourth quarter. GeoWealth Management LLC now owns 258 shares of the company's stock valued at $35,000 after purchasing an additional 102 shares during the last quarter. Lindbrook Capital LLC grew its position in Neurocrine Biosciences by 53.5% during the fourth quarter. Lindbrook Capital LLC now owns 373 shares of the company's stock valued at $51,000 after acquiring an additional 130 shares during the period. Finally, R Squared Ltd purchased a new stake in Neurocrine Biosciences during the fourth quarter valued at about $61,000. Hedge funds and other institutional investors own 92.59% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on NBIX. HC Wainwright decreased their target price 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. BMO Capital Markets increased their price target on Neurocrine Biosciences from $96.00 to $115.00 and gave the stock a "market perform" rating in a research report on Tuesday, May 6th. UBS Group increased their price target on Neurocrine Biosciences from $137.00 to $152.00 and gave the stock a "buy" rating in a research report on Tuesday, May 6th. Wall Street Zen cut Neurocrine Biosciences from a "strong-buy" rating to a "buy" rating in a research report on Thursday, March 20th. Finally, William Blair restated an "outperform" rating on shares of Neurocrine Biosciences in a research report on Friday, February 7th. Three analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat.com, Neurocrine Biosciences has a consensus rating of "Moderate Buy" and an average price target of $162.00.

Neurocrine Biosciences Stock Down 1.7%

Shares of NASDAQ NBIX traded down $2.07 during trading on Friday, reaching $121.60. The company had a trading volume of 355,758 shares, compared to its average volume of 1,133,082. The company's fifty day moving average price is $108.97 and its 200-day moving average price is $121.82. Neurocrine Biosciences, Inc. has a 12 month low of $84.23 and a 12 month high of $157.98. The stock has a market cap of $12.03 billion, a P/E ratio of 37.02, a PEG ratio of 0.77 and a beta of 0.26.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last posted its quarterly earnings results 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 for 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 quarterly revenue was up 11.1% compared to the same quarter last year. During the same period last year, the company posted $1.20 earnings per share. As a group, equities analysts predict 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 program on Friday, February 21st that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 4.2% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's management believes its shares are undervalued.

Insider Activity at Neurocrine Biosciences

In related news, Director William H. Rastetter sold 30,000 shares of Neurocrine Biosciences stock in a transaction 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 sale, the director now owns 37,491 shares of the company's stock, valued at approximately $4,131,508.20. This trade represents a 44.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kevin Charles Gorman sold 9,613 shares of Neurocrine Biosciences stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $120.38, for a total value of $1,157,212.94. Following the sale, the director now directly owns 514,596 shares of the company's stock, valued at $61,947,066.48. This represents a 1.83% decrease in their position. The disclosure for this sale can be found here. 4.80% of the stock is currently owned by company 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.