Focus Partners Wealth Acquires 4,420 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Focus Partners Wealth raised its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 9.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 51,078 shares of the company's stock after buying an additional 4,420 shares during the quarter. Focus Partners Wealth owned 0.05% of Neurocrine Biosciences worth $6,972,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Caprock Group LLC bought a new stake in Neurocrine Biosciences in the 4th quarter valued at $236,000. Charles Schwab Investment Management Inc. increased its holdings in Neurocrine Biosciences by 2.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 762,557 shares of the company's stock valued at $104,089,000 after buying an additional 15,266 shares during the period. Oakworth Capital Inc. bought a new stake in Neurocrine Biosciences in the 4th quarter valued at $379,000. Avantax Advisory Services Inc. increased its holdings in Neurocrine Biosciences by 11.4% in the 4th quarter. Avantax Advisory Services Inc. now owns 2,895 shares of the company's stock valued at $395,000 after buying an additional 297 shares during the period. Finally, Synergy Asset Management LLC bought a new stake in Neurocrine Biosciences in the 4th quarter valued at $996,000. Institutional investors own 92.59% of the company's stock.

Analysts Set New Price Targets

NBIX has been the topic of several analyst reports. JPMorgan Chase & Co. boosted their price target on shares of Neurocrine Biosciences from $183.00 to $184.00 and gave the company an "overweight" rating in a report on Wednesday, March 26th. Canaccord Genuity Group upped their target price on shares of Neurocrine Biosciences from $158.00 to $160.00 and gave the stock a "buy" rating in a report on Tuesday, May 6th. Evercore ISI lowered their target price on shares of Neurocrine Biosciences from $190.00 to $185.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th. UBS Group upped their target price on shares of Neurocrine Biosciences from $137.00 to $152.00 and gave the stock a "buy" rating in a report on Tuesday, May 6th. Finally, Morgan Stanley reaffirmed an "overweight" rating and issued a $150.00 target price (down previously from $185.00) on shares of Neurocrine Biosciences in a report on Friday, March 7th. Three research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $162.00.

Insiders Place Their Bets

In other Neurocrine Biosciences news, Director William H. Rastetter sold 30,000 shares of the firm'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 sale, the director now directly owns 37,491 shares in the company, valued at approximately $4,131,508.20. This trade represents a 44.45% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 4.80% of the company's stock.

Neurocrine Biosciences Stock Performance

NBIX stock traded up $0.75 during mid-day trading on Friday, hitting $121.02. 970,641 shares of the company were exchanged, compared to its average volume of 1,127,336. The firm has a market cap of $11.98 billion, a P/E ratio of 36.78, a P/E/G ratio of 0.77 and a beta of 0.26. The firm's 50 day simple moving average is $107.02 and its 200 day simple moving average is $121.93. 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 announced 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). The company had revenue of $572.60 million for the quarter, compared to analyst estimates of $587.06 million. Neurocrine Biosciences had a return on equity of 13.38% and a net margin of 14.49%. The business's quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the business posted $1.20 earnings per share. On average, equities research analysts predict that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

Neurocrine Biosciences declared that its Board of Directors has authorized a stock repurchase program on Friday, February 21st that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to purchase up to 4.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company's leadership believes its shares are undervalued.

About Neurocrine Biosciences

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.