Wealth Enhancement Advisory Services LLC Increases Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Wealth Enhancement Advisory Services LLC raised its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 199.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 16,886 shares of the company's stock after purchasing an additional 11,240 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Neurocrine Biosciences were worth $2,305,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Golden State Wealth Management LLC acquired a new stake in Neurocrine Biosciences during the fourth quarter worth about $25,000. Huntington National Bank grew its stake in shares of Neurocrine Biosciences by 73.5% during the 4th quarter. Huntington National Bank now owns 229 shares of the company's stock worth $31,000 after purchasing an additional 97 shares during the period. GeoWealth Management LLC increased its holdings in shares of 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 purchasing an additional 102 shares in the last quarter. Lindbrook Capital LLC lifted its stake 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 period. Finally, EverSource Wealth Advisors LLC boosted its holdings in Neurocrine Biosciences by 107.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 466 shares of the company's stock worth $64,000 after buying an additional 241 shares in the last quarter. 92.59% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

NBIX has been the subject of a number of analyst reports. JPMorgan Chase & Co. upped their price objective on shares of Neurocrine Biosciences from $183.00 to $184.00 and gave the stock an "overweight" rating in a research report on Wednesday, March 26th. BMO Capital Markets increased their price target on Neurocrine Biosciences from $96.00 to $115.00 and gave the stock a "market perform" rating in a research report on Tuesday, May 6th. Evercore ISI cut their price objective on Neurocrine Biosciences from $190.00 to $185.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. Needham & Company LLC upped their target price on Neurocrine Biosciences from $138.00 to $139.00 and gave the stock a "buy" rating in a research note on Tuesday, May 6th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Neurocrine Biosciences in a research note on Tuesday, February 11th. They issued a "hold" rating and a $138.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $162.00.

Insider Buying and Selling at Neurocrine Biosciences

In other Neurocrine Biosciences news, 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 completion of the transaction, the director now owns 514,596 shares in the company, valued at $61,947,066.48. The trade was a 1.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 completion of the sale, the director now owns 37,491 shares in the company, valued at $4,131,508.20. The trade was a 44.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.80% of the stock is owned by corporate insiders.

Neurocrine Biosciences Price Performance

Shares of NBIX traded up $0.78 during mid-day trading on Friday, reaching $125.39. The stock had a trading volume of 860,428 shares, compared to its average volume of 1,139,189. The business's fifty day moving average is $110.03 and its 200 day moving average is $121.90. Neurocrine Biosciences, Inc. has a 52-week low of $84.23 and a 52-week high of $157.98. The firm has a market cap of $12.41 billion, a price-to-earnings ratio of 38.11, a P/E/G ratio of 0.77 and a beta of 0.24.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.62). The company had revenue of $572.60 million during the quarter, compared to analysts' expectations of $587.06 million. Neurocrine Biosciences had a net margin of 14.49% and a return on equity of 13.38%. The firm's quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.20 earnings per share. As a group, sell-side analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

Neurocrine Biosciences declared that its board has initiated a stock repurchase plan on Friday, February 21st that authorizes the company to repurchase $500.00 million in 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 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.