Mariner LLC Purchases 3,857 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Mariner LLC increased its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 23.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,639 shares of the company's stock after purchasing an additional 3,857 shares during the period. Mariner LLC's holdings in Neurocrine Biosciences were worth $2,817,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Golden State Wealth Management LLC bought a new position in shares of Neurocrine Biosciences in the fourth quarter valued at $25,000. Huntington National Bank lifted its stake in shares of Neurocrine Biosciences by 73.5% in the fourth quarter. Huntington National Bank now owns 229 shares of the company's stock valued at $31,000 after buying an additional 97 shares in the last quarter. Brooklyn Investment Group lifted its stake in shares of Neurocrine Biosciences by 99.1% in the fourth quarter. Brooklyn Investment Group now owns 231 shares of the company's stock valued at $32,000 after buying an additional 115 shares in the last quarter. Lindbrook Capital LLC lifted its stake in shares of Neurocrine Biosciences by 53.5% in the fourth quarter. Lindbrook Capital LLC now owns 373 shares of the company's stock valued at $51,000 after buying an additional 130 shares in the last quarter. Finally, R Squared Ltd bought a new position in shares of Neurocrine Biosciences in the fourth quarter valued at $61,000. Institutional investors and hedge funds own 92.59% of the company's stock.

Neurocrine Biosciences Price Performance

Shares of NBIX traded down $0.27 during trading hours on Monday, hitting $106.46. The company's stock had a trading volume of 1,031,828 shares, compared to its average volume of 1,068,141. The company has a market cap of $10.53 billion, a price-to-earnings ratio of 32.36, a PEG ratio of 0.77 and a beta of 0.33. The business has a 50 day simple moving average of $107.00 and a two-hundred day simple moving average of $122.16. Neurocrine Biosciences, Inc. has a 52-week low of $84.23 and a 52-week high of $157.98.

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

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

Insider Transactions at Neurocrine Biosciences

In other news, Director Kevin Charles Gorman sold 2,707 shares of Neurocrine Biosciences stock in a transaction dated 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 owns 517,030 shares in the company, valued at $79,064,227.60. This trade represents a 0.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ingrid Delaet sold 623 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $149.29, for a total transaction of $93,007.67. Following the completion of the transaction, the insider now owns 3,442 shares of the company's stock, valued at $513,856.18. This trade represents a 15.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,801 shares of company stock worth $2,834,677 over the last quarter. Corporate insiders own 4.30% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Guggenheim dropped their price objective on shares of Neurocrine Biosciences from $165.00 to $163.00 and set a "buy" rating on the stock in a research note on Monday, February 10th. StockNews.com downgraded shares of Neurocrine Biosciences from a "strong-buy" rating to a "buy" rating in a report on Thursday, March 20th. Wedbush lowered their target price on shares of Neurocrine Biosciences from $157.00 to $147.00 and set an "outperform" rating for the company in a report on Friday, February 7th. Morgan Stanley reiterated 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. Finally, Needham & Company LLC upgraded shares of Neurocrine Biosciences from a "hold" rating to a "buy" rating and set a $138.00 target price for the company in a report on Tuesday, April 15th. Three research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat.com, Neurocrine Biosciences has an average rating of "Moderate Buy" and an average price target of $160.90.

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.