Peak Retirement Planning Inc. Makes New Investment in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Peak Retirement Planning Inc. purchased a new stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 7,630 shares of the company's stock, valued at approximately $1,029,000.

Other large investors have also recently made changes to their positions in the company. Golden State Wealth Management LLC purchased a new stake in Neurocrine Biosciences during the 4th quarter worth about $25,000. Huntington National Bank grew its holdings in Neurocrine Biosciences by 73.5% during the 4th quarter. Huntington National Bank now owns 229 shares of the company's stock worth $31,000 after acquiring an additional 97 shares in the last quarter. GeoWealth Management LLC increased 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 during the last quarter. Lindbrook Capital LLC grew its position in shares of Neurocrine Biosciences by 53.5% in the 4th quarter. Lindbrook Capital LLC now owns 373 shares of the company's stock valued at $51,000 after buying an additional 130 shares during the last quarter. Finally, R Squared Ltd purchased a new stake in Neurocrine Biosciences in the fourth quarter valued at approximately $61,000. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Neurocrine Biosciences

In other news, Director William H. Rastetter sold 30,000 shares of the stock in a transaction that occurred 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 in the company, valued at approximately $4,131,508.20. This represents a 44.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 4.80% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Morgan Stanley reaffirmed an "overweight" rating and set a $150.00 price objective (down from $185.00) on shares of Neurocrine Biosciences in a research note on Friday, March 7th. Deutsche Bank Aktiengesellschaft began coverage on shares of Neurocrine Biosciences in a research note on Tuesday, February 11th. They issued a "hold" rating and a $138.00 price objective on the stock. Guggenheim lifted their target price 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 raised their price objective on shares of Neurocrine Biosciences from $158.00 to $160.00 and gave the company a "buy" rating in a research report on Tuesday, May 6th. Finally, Royal Bank of Canada lifted their price target on Neurocrine Biosciences from $137.00 to $145.00 and gave the company an "outperform" rating in a research note on Tuesday, May 6th. Three analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $162.00.

Neurocrine Biosciences Trading Up 2.0%

Shares of Neurocrine Biosciences stock traded up $2.46 during trading hours on Tuesday, reaching $122.64. The stock had a trading volume of 1,283,685 shares, compared to its average volume of 1,136,858. The firm has a market capitalization of $12.14 billion, a price-to-earnings ratio of 37.28, a P/E/G ratio of 0.77 and a beta of 0.26. Neurocrine Biosciences, Inc. has a 1 year low of $84.23 and a 1 year high of $157.98. The firm has a 50 day simple moving average of $108.33 and a two-hundred day simple moving average of $121.83.

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 (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.62). Neurocrine Biosciences had a return on equity of 13.38% and a net margin of 14.49%. The business had revenue of $572.60 million during the quarter, compared to analyst estimates of $587.06 million. During the same period in the previous year, the company earned $1.20 EPS. Neurocrine Biosciences's revenue was up 11.1% on a year-over-year basis. Sell-side analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

Neurocrine Biosciences announced that its board has authorized a share buyback plan on Friday, February 21st that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 4.2% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's management 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.