Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Shares Acquired by SG Americas Securities LLC

SG Americas Securities LLC grew its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 16,436.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 175,613 shares of the company's stock after buying an additional 174,551 shares during the quarter. SG Americas Securities LLC owned 0.18% of Neurocrine Biosciences worth $19,423,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in NBIX. Dodge & Cox boosted its holdings in Neurocrine Biosciences by 134.2% during the fourth quarter. Dodge & Cox now owns 3,016,425 shares of the company's stock worth $411,742,000 after purchasing an additional 1,728,605 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Neurocrine Biosciences in the fourth quarter valued at about $115,193,000. Wellington Management Group LLP boosted its stake in Neurocrine Biosciences by 102.9% in the fourth quarter. Wellington Management Group LLP now owns 1,457,425 shares of the company's stock valued at $198,939,000 after acquiring an additional 739,199 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in Neurocrine Biosciences by 2,759.4% in the fourth quarter. Thrivent Financial for Lutherans now owns 737,772 shares of the company's stock valued at $100,705,000 after acquiring an additional 711,970 shares during the last quarter. Finally, Orbimed Advisors LLC boosted its stake in Neurocrine Biosciences by 210.4% in the fourth quarter. Orbimed Advisors LLC now owns 938,120 shares of the company's stock valued at $128,053,000 after acquiring an additional 635,900 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on NBIX shares. Needham & Company LLC upped their target price on shares of Neurocrine Biosciences from $138.00 to $139.00 and gave the stock a "buy" rating in a report on Tuesday, May 6th. Wedbush reaffirmed an "outperform" rating on shares of Neurocrine Biosciences in a report on Tuesday, May 6th. HC Wainwright decreased their target price on shares of Neurocrine Biosciences from $185.00 to $168.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. JPMorgan Chase & Co. upped their target price on shares of Neurocrine Biosciences from $183.00 to $184.00 and gave the stock an "overweight" rating in a report on Wednesday, March 26th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $145.00 target price on shares of Neurocrine Biosciences in a report on Monday, June 2nd. Three equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $162.00.

Insider Buying and Selling

In other Neurocrine Biosciences news, Director William H. Rastetter sold 30,000 shares of Neurocrine Biosciences 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 transaction, the director now owns 37,491 shares of the company's stock, valued at $4,131,508.20. The trade was a 44.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Kevin Charles Gorman sold 9,613 shares of Neurocrine Biosciences stock in a transaction that occurred on 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 transaction, the director now directly owns 514,596 shares in the company, valued at approximately $61,947,066.48. This trade represents a 1.83% decrease in their position. The disclosure for this sale can be found here. 4.80% of the stock is owned by company insiders.

Neurocrine Biosciences Stock Performance

Shares of NBIX traded down $0.62 during midday trading on Friday, hitting $124.39. The company had a trading volume of 775,176 shares, compared to its average volume of 1,145,538. The company's 50-day simple moving average is $113.13 and its 200-day simple moving average is $121.91. The firm has a market capitalization of $12.31 billion, a P/E ratio of 37.81, a P/E/G ratio of 0.77 and a beta of 0.24. Neurocrine Biosciences, Inc. has a 1 year low of $84.23 and a 1 year high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last posted its 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). The business had revenue of $572.60 million for the quarter, compared to analysts' expectations of $587.06 million. Neurocrine Biosciences had a return on equity of 13.38% and a net margin of 14.49%. Neurocrine Biosciences's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.20 EPS. Equities analysts predict that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

Neurocrine Biosciences declared that its board has approved a stock repurchase program 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 shares through open market purchases. Shares buyback programs are typically an indication 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.