Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Shares Purchased by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised 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 filing with the Securities and Exchange Commission. The fund owned 1,070,096 shares of the company's stock after acquiring an additional 175,879 shares during the period. 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 quarter.

A number of other hedge funds also recently bought and sold shares of the business. Worldquant Millennium Advisors LLC raised its holdings in Neurocrine Biosciences by 44.1% in the 4th quarter. Worldquant Millennium Advisors LLC now owns 154,852 shares of the company's stock valued at $21,137,000 after acquiring an additional 47,370 shares during the last quarter. Triglav Skladi D.O.O. acquired a new stake in Neurocrine Biosciences in the 4th quarter valued at about $1,502,000. Teza Capital Management LLC raised its holdings in Neurocrine Biosciences by 4.5% in the 4th quarter. Teza Capital Management LLC now owns 17,864 shares of the company's stock valued at $2,438,000 after acquiring an additional 765 shares during the last quarter. Strategic Global Advisors LLC raised its holdings in Neurocrine Biosciences by 4.2% in the 4th quarter. Strategic Global Advisors LLC now owns 20,521 shares of the company's stock valued at $2,801,000 after acquiring an additional 827 shares during the last quarter. Finally, Tema Etfs LLC acquired a new stake in Neurocrine Biosciences in the 4th quarter valued at about $525,000. Institutional investors and hedge funds own 92.59% of the company's stock.

Insider Buying and Selling

In other Neurocrine Biosciences news, Director William H. Rastetter sold 30,000 shares of Neurocrine Biosciences stock in a transaction on Monday, May 5th. The shares were sold at an average price of $110.20, for a total value of $3,306,000.00. Following the transaction, the director now directly owns 37,491 shares in the company, valued at approximately $4,131,508.20. The trade was a 44.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 4.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

NBIX has been the subject of a number of recent research reports. Guggenheim increased their price objective on shares of Neurocrine Biosciences from $155.00 to $165.00 and gave the company a "buy" rating in a report on Tuesday, May 6th. Canaccord Genuity Group increased their price objective on shares of Neurocrine Biosciences from $158.00 to $160.00 and gave the company a "buy" rating in a report on Tuesday, May 6th. HC Wainwright cut their price target on shares of Neurocrine Biosciences from $185.00 to $168.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Wall Street Zen downgraded shares of Neurocrine Biosciences from a "strong-buy" rating to a "buy" rating in a report on Thursday, March 20th. Finally, Wedbush restated an "outperform" rating on shares of Neurocrine Biosciences in a report on Tuesday, May 6th. Three equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $162.00.

Neurocrine Biosciences Stock Up 2.0%

NBIX stock traded up $2.46 during midday trading on Tuesday, hitting $122.64. The company's stock had a trading volume of 1,283,685 shares, compared to its average volume of 1,136,858. Neurocrine Biosciences, Inc. has a 52-week low of $84.23 and a 52-week high of $157.98. The firm has a market capitalization of $12.14 billion, a P/E ratio of 37.28, a PEG ratio of 0.77 and a beta of 0.26. The firm has a 50-day simple moving average of $108.33 and a 200-day simple moving average of $121.83.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last issued its quarterly earnings results 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 period in the prior year, the business earned $1.20 EPS. The business's quarterly revenue was up 11.1% on a year-over-year basis. On average, sell-side analysts expect that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

Neurocrine Biosciences announced that its board has authorized a share repurchase program on Friday, February 21st that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 4.2% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's board of directors 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.