Sowell Financial Services LLC Takes Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Sowell Financial Services LLC bought a new stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 4,786 shares of the company's stock, valued at approximately $529,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. OneDigital Investment Advisors LLC lifted its position in Neurocrine Biosciences by 2.1% during the 4th quarter. OneDigital Investment Advisors LLC now owns 4,215 shares of the company's stock valued at $575,000 after acquiring an additional 87 shares during the period. HighPoint Advisor Group LLC lifted its position in Neurocrine Biosciences by 4.1% during the 4th quarter. HighPoint Advisor Group LLC now owns 2,446 shares of the company's stock valued at $334,000 after acquiring an additional 96 shares during the period. Huntington National Bank lifted its position in Neurocrine Biosciences by 73.5% during the 4th quarter. Huntington National Bank now owns 229 shares of the company's stock valued at $31,000 after acquiring an additional 97 shares during the period. Utah Retirement Systems lifted its position in Neurocrine Biosciences by 0.6% during the 4th quarter. Utah Retirement Systems now owns 16,583 shares of the company's stock valued at $2,264,000 after acquiring an additional 100 shares during the period. Finally, GeoWealth Management LLC lifted its position in Neurocrine Biosciences by 65.4% during 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. Hedge funds and other institutional investors own 92.59% of the company's stock.

Analyst Upgrades and Downgrades

NBIX has been the subject of a number of recent research reports. Wedbush reissued an "outperform" rating on shares of Neurocrine Biosciences in a research report on Tuesday, May 6th. Needham & Company LLC lifted 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. BMO Capital Markets lifted their target price on shares of Neurocrine Biosciences from $96.00 to $115.00 and gave the stock a "market perform" rating in a report on Tuesday, May 6th. Wall Street Zen cut shares of Neurocrine Biosciences from a "strong-buy" rating to a "buy" rating in a report on Thursday, March 20th. Finally, HC Wainwright decreased their target price 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. 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 a consensus rating of "Moderate Buy" and a consensus price target of $162.00.

Insider Activity at Neurocrine Biosciences

In related news, Director William H. Rastetter sold 30,000 shares of the business's 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 completion of the sale, 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Kevin Charles Gorman sold 9,613 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $120.38, for a total transaction of $1,157,212.94. Following the sale, the director now owns 514,596 shares of the company's stock, valued at $61,947,066.48. This trade represents a 1.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.80% of the stock is currently owned by company insiders.

Neurocrine Biosciences Stock Up 1.9%

NBIX opened at $127.31 on Friday. The firm has a 50 day moving average price of $115.11 and a 200-day moving average price of $121.89. Neurocrine Biosciences, Inc. has a twelve month low of $84.23 and a twelve month high of $157.98. The stock has a market capitalization of $12.60 billion, a price-to-earnings ratio of 43.16, a PEG ratio of 1.31 and a beta of 0.24.

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 for the quarter, missing the consensus estimate of $0.70 by ($0.62). The company had revenue of $572.60 million for the quarter, compared to analysts' expectations of $587.06 million. Neurocrine Biosciences had a net margin of 12.68% and a return on equity of 11.81%. The firm's revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.20 earnings per share. As a group, analysts expect that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.

Neurocrine Biosciences declared that its board has authorized a share buyback program on Friday, February 21st that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to repurchase up to 4.2% of its stock through open market purchases. Stock repurchase programs are usually 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.

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