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

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 19.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,070,096 shares of the company's stock after buying an additional 175,879 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 1.06% of Neurocrine Biosciences worth $146,068,000 at the end of the most recent reporting period.

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

Insider Activity

In other news, Director William H. Rastetter sold 30,000 shares of the company's 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 approximately $4,131,508.20. This represents a 44.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 4.80% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Royal Bank of Canada raised 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. Bank of America lowered their price target on Neurocrine Biosciences from $184.00 to $179.00 and set a "buy" rating on the stock in a report on Friday, February 7th. UBS Group lifted their price objective on Neurocrine Biosciences from $137.00 to $152.00 and gave the stock a "buy" rating in a report on Tuesday, May 6th. Evercore ISI lowered their target price on shares of Neurocrine Biosciences from $190.00 to $185.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. Finally, BMO Capital Markets lifted their price target on shares of Neurocrine Biosciences from $96.00 to $115.00 and gave the stock a "market perform" rating in a research note on Tuesday, May 6th. Three research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $162.00.

Neurocrine Biosciences Trading Up 0.3%

Shares of NBIX traded up $0.39 during trading hours on Wednesday, reaching $123.03. 1,024,139 shares of the stock traded hands, compared to its average volume of 1,136,409. The company has a market cap of $12.18 billion, a P/E ratio of 37.40, a price-to-earnings-growth ratio of 0.77 and a beta of 0.26. The company's 50-day moving average price is $108.59 and its two-hundred day moving average price is $121.84. Neurocrine Biosciences, Inc. has a 52-week low of $84.23 and a 52-week high of $157.98.

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

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

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.