Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Shares Bought by Peregrine Capital Management LLC

Peregrine Capital Management LLC grew its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 12.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 72,972 shares of the company's stock after buying an additional 8,132 shares during the quarter. Peregrine Capital Management LLC owned 0.07% of Neurocrine Biosciences worth $8,071,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in NBIX. Huntington National Bank grew its holdings in shares of Neurocrine Biosciences by 73.5% in the fourth quarter. Huntington National Bank now owns 229 shares of the company's stock worth $31,000 after purchasing an additional 97 shares during the last quarter. GeoWealth Management LLC increased its position 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 period. Lindbrook Capital LLC raised its stake in shares of Neurocrine Biosciences by 53.5% in the fourth quarter. Lindbrook Capital LLC now owns 373 shares of the company's stock worth $51,000 after purchasing an additional 130 shares during the last quarter. Golden State Wealth Management LLC increased its stake in shares of Neurocrine Biosciences by 116.9% in the first quarter. Golden State Wealth Management LLC now owns 397 shares of the company's stock worth $44,000 after acquiring an additional 214 shares during the period. Finally, Versant Capital Management Inc boosted its holdings in Neurocrine Biosciences by 404.9% in the first quarter. Versant Capital Management Inc now owns 409 shares of the company's stock valued at $45,000 after purchasing an additional 328 shares during the last quarter. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on NBIX shares. Evercore ISI dropped their target price on Neurocrine Biosciences from $190.00 to $185.00 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. Wall Street Zen lowered Neurocrine Biosciences from a "strong-buy" rating to a "buy" rating in a research note on Thursday, March 20th. UBS Group raised their price objective on shares of Neurocrine Biosciences from $137.00 to $152.00 and gave the company a "buy" rating in a research note on Tuesday, May 6th. Needham & Company LLC raised their price objective on shares of Neurocrine Biosciences from $138.00 to $139.00 and gave the company a "buy" rating in a report on Tuesday, May 6th. Finally, BMO Capital Markets boosted their price target on shares of Neurocrine Biosciences from $96.00 to $115.00 and gave the company a "market perform" rating in a research report on Tuesday, May 6th. Three research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $162.00.

Neurocrine Biosciences Stock Performance

NASDAQ:NBIX traded down $1.37 during trading hours on Thursday, hitting $128.04. The company's stock had a trading volume of 387,387 shares, compared to its average volume of 1,137,943. The company has a market capitalization of $12.67 billion, a PE ratio of 43.40, a PEG ratio of 1.31 and a beta of 0.24. Neurocrine Biosciences, Inc. has a 52-week low of $84.23 and a 52-week high of $157.98. The business's 50-day moving average is $120.90 and its two-hundred day moving average is $121.87.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.62). Neurocrine Biosciences had a net margin of 12.68% and a return on equity of 11.81%. The business had revenue of $572.60 million during the quarter, compared to analyst estimates of $587.06 million. During the same quarter last year, the firm posted $1.20 earnings per share. The company's revenue was up 11.1% on a year-over-year basis. As a group, analysts predict that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

Insider Activity

In other Neurocrine Biosciences news, Director William H. Rastetter sold 30,000 shares of the stock in a transaction that occurred 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 transaction, the director owned 37,491 shares of the company's stock, valued at $4,131,508.20. This trade represents a 44.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kevin Charles Gorman sold 9,613 shares of the company's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $120.38, for a total value of $1,157,212.94. Following the sale, the director owned 514,596 shares of the company's stock, valued at $61,947,066.48. This represents a 1.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate 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.