Peak Retirement Planning Inc. Takes Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Peak Retirement Planning Inc. acquired a new position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 7,630 shares of the company's stock, valued at approximately $1,029,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Golden State Wealth Management LLC purchased a new stake in Neurocrine Biosciences in the 4th quarter valued at 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 buying an additional 97 shares during the last quarter. GeoWealth Management LLC grew its holdings 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 period. Lindbrook Capital LLC boosted its holdings 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 purchasing an additional 130 shares during the last quarter. Finally, R Squared Ltd purchased a new position in shares of Neurocrine Biosciences in the 4th quarter worth about $61,000. 92.59% of the stock is owned by hedge funds and other institutional investors.

Neurocrine Biosciences Stock Performance

Shares of NASDAQ NBIX traded up $1.18 during midday trading on Thursday, reaching $124.21. 423,111 shares of the company traded hands, compared to its average volume of 1,450,861. The firm has a market cap of $12.29 billion, a PE ratio of 37.75, a PEG ratio of 0.77 and a beta of 0.26. Neurocrine Biosciences, Inc. has a 12 month low of $84.23 and a 12 month high of $157.98. The stock's 50-day simple moving average is $108.81 and its 200-day simple moving average is $121.84.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last announced its 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). Neurocrine Biosciences had a return on equity of 13.38% and a net margin of 14.49%. The company had revenue of $572.60 million during the quarter, compared to the consensus estimate of $587.06 million. During the same period in the prior year, the firm posted $1.20 earnings per share. The company's revenue was up 11.1% on a year-over-year basis. On average, equities research analysts expect that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

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

Insider Buying and Selling

In related news, Director William H. Rastetter sold 30,000 shares of the firm's stock in a transaction on 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 $4,131,508.20. This trade represents a 44.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 4.80% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on NBIX. Needham & Company LLC increased their price target on Neurocrine Biosciences from $138.00 to $139.00 and gave the company a "buy" rating in a report on Tuesday, May 6th. 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. JPMorgan Chase & Co. raised their target price on Neurocrine Biosciences from $183.00 to $184.00 and gave the company an "overweight" rating in a research note on Wednesday, March 26th. Piper Sandler reiterated an "overweight" rating and issued a $154.00 price target (down previously from $160.00) on shares of Neurocrine Biosciences in a research note on Tuesday, May 6th. Finally, HC Wainwright lowered their price objective on Neurocrine Biosciences from $185.00 to $168.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Three analysts have rated the stock with a hold rating and twenty have given a buy rating to the company's stock. According to data from MarketBeat, Neurocrine Biosciences presently has an average rating of "Moderate Buy" and a consensus price target of $162.00.

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.