Worldquant Millennium Advisors LLC Boosts Stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Worldquant Millennium Advisors LLC grew its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 44.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 154,852 shares of the company's stock after purchasing an additional 47,370 shares during the period. Worldquant Millennium Advisors LLC owned approximately 0.15% of Neurocrine Biosciences worth $21,137,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Park Avenue Securities LLC grew its stake in shares of Neurocrine Biosciences by 23.3% in the 4th quarter. Park Avenue Securities LLC now owns 7,080 shares of the company's stock worth $966,000 after buying an additional 1,336 shares in the last quarter. Merit Financial Group LLC bought a new position in shares of Neurocrine Biosciences in the 4th quarter valued at about $520,000. Brooklyn Investment Group lifted its holdings in shares of Neurocrine Biosciences by 99.1% in the 4th quarter. Brooklyn Investment Group now owns 231 shares of the company's stock valued at $32,000 after acquiring an additional 115 shares during the last quarter. HB Wealth Management LLC purchased a new stake in Neurocrine Biosciences during the fourth quarter valued at approximately $373,000. Finally, UMB Bank n.a. raised its position in Neurocrine Biosciences by 211.6% during the fourth quarter. UMB Bank n.a. now owns 455 shares of the company's stock valued at $62,000 after purchasing an additional 309 shares during the period. 92.59% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Neurocrine Biosciences

In related news, Director William H. Rastetter sold 30,000 shares of the business's stock in a transaction on Monday, May 5th. The shares were sold at an average price of $110.20, for a total value of $3,306,000.00. Following the completion of the transaction, the director now directly owns 37,491 shares in the company, valued at $4,131,508.20. The trade was a 44.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 4.30% of the stock is currently owned by insiders.

Neurocrine Biosciences Stock Up 0.9%

Shares of NBIX traded up $1.06 during trading hours on Friday, reaching $120.18. 882,158 shares of the company traded hands, compared to its average volume of 1,133,419. The business has a fifty day moving average price of $108.14 and a 200-day moving average price of $121.91. Neurocrine Biosciences, Inc. has a 12-month low of $84.23 and a 12-month high of $157.98. The stock has a market capitalization of $11.89 billion, a P/E ratio of 36.53, a P/E/G ratio of 0.77 and a beta of 0.26.

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

Neurocrine Biosciences announced that its board has approved a share buyback plan on Friday, February 21st that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 4.2% of its stock through open market purchases. Stock buyback plans are often a sign that the company's leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

NBIX has been the subject of several recent analyst reports. Guggenheim lifted their price objective on shares of Neurocrine Biosciences from $155.00 to $165.00 and gave the stock a "buy" rating in a research note on Tuesday, May 6th. Evercore ISI cut their target price on Neurocrine Biosciences from $190.00 to $185.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. Piper Sandler reaffirmed an "overweight" rating and set a $154.00 target price (down previously from $160.00) on shares of Neurocrine Biosciences in a research note on Tuesday, May 6th. Wall Street Zen cut Neurocrine Biosciences from a "strong-buy" rating to a "buy" rating in a report on Thursday, March 20th. Finally, HC Wainwright dropped their price objective on Neurocrine Biosciences from $185.00 to $168.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Three investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $162.00.

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.