Wealth Enhancement Advisory Services LLC grew its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 199.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,886 shares of the company's stock after acquiring an additional 11,240 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Neurocrine Biosciences were worth $2,305,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently bought and sold shares of the company. OneDigital Investment Advisors LLC boosted its position in shares of Neurocrine Biosciences by 2.1% in the 4th quarter. OneDigital Investment Advisors LLC now owns 4,215 shares of the company's stock worth $575,000 after purchasing an additional 87 shares during the last quarter. HighPoint Advisor Group LLC raised its holdings in shares of Neurocrine Biosciences by 4.1% during the fourth quarter. HighPoint Advisor Group LLC now owns 2,446 shares of the company's stock worth $334,000 after acquiring an additional 96 shares during the period. Huntington National Bank raised its stake in shares of Neurocrine Biosciences by 73.5% in the 4th quarter. Huntington National Bank now owns 229 shares of the company's stock valued at $31,000 after purchasing an additional 97 shares during the period. Louisiana State Employees Retirement System lifted its stake in Neurocrine Biosciences by 0.4% in the 4th quarter. Louisiana State Employees Retirement System now owns 28,100 shares of the company's stock valued at $3,836,000 after acquiring an additional 100 shares in the last quarter. Finally, Utah Retirement Systems boosted its holdings in Neurocrine Biosciences by 0.6% during the fourth quarter. Utah Retirement Systems now owns 16,583 shares of the company's stock worth $2,264,000 after purchasing an additional 100 shares during the last quarter. Institutional investors and hedge funds own 92.59% of the company's stock.
Analysts Set New Price Targets
A number of research analysts have weighed in on NBIX shares. Morgan Stanley restated an "overweight" rating and issued a $150.00 price target (down from $185.00) on shares of Neurocrine Biosciences in a research note on Friday, March 7th. Evercore ISI dropped their price target on Neurocrine Biosciences from $190.00 to $185.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. Wall Street Zen downgraded shares of Neurocrine Biosciences from a "strong-buy" rating to a "buy" rating in a report on Thursday, March 20th. BMO Capital Markets increased their target price on Neurocrine Biosciences from $96.00 to $115.00 and gave the stock a "market perform" rating in a report on Tuesday, May 6th. Finally, HC Wainwright decreased their price objective on shares of Neurocrine Biosciences from $185.00 to $168.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Three research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $162.00.
Read Our Latest Report on Neurocrine Biosciences
Neurocrine Biosciences Trading Up 0.3%
NASDAQ:NBIX traded up $0.34 on Monday, reaching $125.73. 642,378 shares of the stock traded hands, compared to its average volume of 1,139,774. The firm has a market capitalization of $12.44 billion, a price-to-earnings ratio of 38.22, a price-to-earnings-growth 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. The company's 50 day moving average is $110.40 and its 200-day moving average is $121.91.
Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last released its earnings results on Monday, May 5th. The company reported $0.08 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 for the quarter, compared to analyst estimates of $587.06 million. During the same period in the prior year, the business earned $1.20 EPS. The company's revenue for the quarter was up 11.1% on a year-over-year basis. On average, equities research analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.
Neurocrine Biosciences declared that its board has authorized a share buyback plan on Friday, February 21st that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 4.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's leadership believes its shares are undervalued.
Insider Transactions at Neurocrine Biosciences
In other news, Director William H. Rastetter sold 30,000 shares of the business's stock in a transaction dated 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 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 legal filing with the SEC, which is available at this link. Also, Director Kevin Charles Gorman sold 9,613 shares of the firm's stock in a transaction dated 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 completion of the transaction, the director now directly owns 514,596 shares in the company, valued at approximately $61,947,066.48. The trade was a 1.83% decrease in their position. The disclosure for this sale can be found here. Insiders own 4.80% of the company's stock.
Neurocrine Biosciences Company Profile
(
Free Report)
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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