UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Boosts Stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 19.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,070,096 shares of the company's stock after purchasing an additional 175,879 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 1.06% of Neurocrine Biosciences worth $146,068,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Golden State Wealth Management LLC bought a new position in shares of Neurocrine Biosciences during the 4th quarter worth approximately $25,000. Huntington National Bank boosted its stake in Neurocrine Biosciences by 73.5% in the 4th quarter. Huntington National Bank now owns 229 shares of the company's stock worth $31,000 after purchasing an additional 97 shares during the period. GeoWealth Management LLC raised its holdings in shares of Neurocrine Biosciences by 65.4% in the 4th quarter. GeoWealth Management LLC now owns 258 shares of the company's stock valued at $35,000 after acquiring an additional 102 shares in 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 last quarter. Finally, R Squared Ltd bought a new position in shares of Neurocrine Biosciences in the fourth quarter worth approximately $61,000. 92.59% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

NBIX has been the subject of several recent analyst reports. UBS Group lifted 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. Piper Sandler restated an "overweight" rating and issued a $154.00 price target (down from $160.00) on shares of Neurocrine Biosciences in a research note on Tuesday, May 6th. Needham & Company LLC upped their price objective on Neurocrine Biosciences from $138.00 to $139.00 and gave the stock a "buy" rating in a report on Tuesday, May 6th. Royal Bank of Canada increased their price target on Neurocrine Biosciences from $137.00 to $145.00 and gave the company an "outperform" rating in a report on Tuesday, May 6th. Finally, Wedbush reiterated an "outperform" rating on shares of Neurocrine Biosciences in a research note on Tuesday, May 6th. Three equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $162.00.

Neurocrine Biosciences Trading Up 1.0%

NBIX traded up $1.25 during trading on Thursday, hitting $124.28. The company's stock had a trading volume of 361,698 shares, compared to its average volume of 1,135,673. The business's fifty day simple moving average is $108.81 and its 200 day simple moving average is $121.84. The firm has a market capitalization of $12.30 billion, a price-to-earnings ratio of 37.73, a P/E/G ratio of 0.77 and a beta of 0.26. Neurocrine Biosciences, Inc. has a twelve month low of $84.23 and a twelve month high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last posted its earnings results on Monday, May 5th. The company reported $0.08 EPS for the quarter, missing analysts' consensus estimates of $0.70 by ($0.62). The business 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 prior year, the firm earned $1.20 EPS. As a group, equities research analysts forecast 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 approved a share buyback plan on Friday, February 21st that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to buy up to 4.2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's leadership believes its shares are undervalued.

Insider Activity

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 transaction, the director now directly owns 37,491 shares of the company's stock, valued at approximately $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 SEC, which can be accessed through this link. Company insiders own 4.80% of the company's stock.

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.