Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Holdings Lifted by Hood River Capital Management LLC

Hood River Capital Management LLC lifted its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 34.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 355,058 shares of the company's stock after purchasing an additional 91,848 shares during the quarter. Hood River Capital Management LLC owned 0.35% of Neurocrine Biosciences worth $48,465,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. OneDigital Investment Advisors LLC lifted its position in shares of Neurocrine Biosciences by 2.1% during the fourth quarter. OneDigital Investment Advisors LLC now owns 4,215 shares of the company's stock worth $575,000 after purchasing an additional 87 shares in the last quarter. HighPoint Advisor Group LLC increased its position in shares of Neurocrine Biosciences by 4.1% in the 4th quarter. HighPoint Advisor Group LLC now owns 2,446 shares of the company's stock valued at $334,000 after purchasing an additional 96 shares during the last quarter. Huntington National Bank grew its stake in shares of Neurocrine Biosciences by 73.5% during the fourth quarter. Huntington National Bank now owns 229 shares of the company's stock worth $31,000 after purchasing an additional 97 shares in the last quarter. Louisiana State Employees Retirement System increased its holdings in Neurocrine Biosciences by 0.4% in the fourth quarter. Louisiana State Employees Retirement System now owns 28,100 shares of the company's stock valued at $3,836,000 after buying an additional 100 shares during the last quarter. Finally, GeoWealth Management LLC raised its stake in Neurocrine Biosciences by 65.4% in the fourth quarter. GeoWealth Management LLC now owns 258 shares of the company's stock valued at $35,000 after buying an additional 102 shares in the last quarter. 92.59% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NBIX has been the subject of a number of research analyst reports. William Blair reaffirmed an "outperform" rating on shares of Neurocrine Biosciences in a report on Friday, February 7th. Wedbush dropped their price target on Neurocrine Biosciences from $157.00 to $147.00 and set an "outperform" rating on the stock in a research note on Friday, February 7th. HC Wainwright reduced 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. Deutsche Bank Aktiengesellschaft began coverage on shares of Neurocrine Biosciences in a research note on Tuesday, February 11th. They issued a "hold" rating and a $138.00 target price for the company. Finally, JPMorgan Chase & Co. raised their target price on Neurocrine Biosciences from $183.00 to $184.00 and gave the company an "overweight" rating in a report on Wednesday, March 26th. Three equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $160.90.

Neurocrine Biosciences Price Performance

NASDAQ NBIX traded down $1.63 during mid-day trading on Monday, hitting $105.10. The company's stock had a trading volume of 320,290 shares, compared to its average volume of 1,065,455. Neurocrine Biosciences, Inc. has a 52-week low of $84.23 and a 52-week high of $157.98. The stock's fifty day simple moving average is $107.16 and its two-hundred day simple moving average is $122.22. The firm has a market capitalization of $10.40 billion, a P/E ratio of 32.00, a price-to-earnings-growth ratio of 0.77 and a beta of 0.33.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The company reported $1.00 EPS for the quarter, missing the consensus estimate of $1.62 by ($0.62). Neurocrine Biosciences had a net margin of 14.49% and a return on equity of 13.38%. On average, equities analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

Neurocrine Biosciences announced that its board has initiated a stock buyback plan on Friday, February 21st that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 4.2% of its shares through open market purchases. Shares buyback plans are often an indication that the company's management believes its stock is undervalued.

Insider Buying and Selling

In related news, CFO Matt Abernethy sold 1,283 shares of the stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $152.87, for a total value of $196,132.21. Following the completion of the transaction, the chief financial officer now owns 32,681 shares of the company's stock, valued at approximately $4,995,944.47. This represents a 3.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Kevin Charles Gorman sold 2,707 shares of the company's stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $152.92, for a total value of $413,954.44. Following the completion of the transaction, the director now directly owns 517,030 shares in the company, valued at approximately $79,064,227.60. The trade was a 0.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,801 shares of company stock valued at $2,834,677 in the last quarter. Company insiders own 4.30% of the company's stock.

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.