Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Stock Position Boosted by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV raised its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 52.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,112 shares of the company's stock after buying an additional 4,143 shares during the quarter. Mercer Global Advisors Inc. ADV's holdings in Neurocrine Biosciences were worth $1,653,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Golden State Wealth Management LLC purchased a new position in shares of Neurocrine Biosciences during the fourth quarter valued at about $25,000. Huntington National Bank boosted its position in shares of Neurocrine Biosciences by 73.5% during the 4th quarter. Huntington National Bank now owns 229 shares of the company's stock valued at $31,000 after acquiring an additional 97 shares during the last quarter. Brooklyn Investment Group grew its holdings 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 purchasing an additional 115 shares in the last quarter. GeoWealth Management LLC lifted its position in Neurocrine Biosciences by 65.4% during the fourth quarter. GeoWealth Management LLC now owns 258 shares of the company's stock valued at $35,000 after purchasing an additional 102 shares during the last quarter. Finally, Lindbrook Capital LLC grew 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 worth $51,000 after buying an additional 130 shares in the last quarter. Institutional investors own 92.59% of the company's stock.

Neurocrine Biosciences Stock Performance

Shares of NASDAQ:NBIX traded up $4.72 on Monday, hitting $120.43. 1,699,327 shares of the company's stock were exchanged, compared to its average volume of 1,117,807. Neurocrine Biosciences, Inc. has a 1-year low of $84.23 and a 1-year high of $157.98. The company has a market capitalization of $11.92 billion, a PE ratio of 36.60, a P/E/G ratio of 0.77 and a beta of 0.26. The firm's 50-day moving average is $106.23 and its 200 day moving average is $121.89.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last posted its quarterly earnings results 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 for the quarter, compared to analysts' expectations of $587.06 million. During the same period in the prior year, the company earned $1.20 earnings per share. The company's revenue for the quarter was up 11.1% on a year-over-year basis. On average, analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

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

Insider Buying and Selling at Neurocrine Biosciences

In related news, Director Kevin Charles Gorman sold 5,844 shares of Neurocrine Biosciences stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $116.69, for a total transaction of $681,936.36. Following the sale, the director now owns 521,618 shares of the company's stock, valued at $60,867,604.42. The trade was a 1.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Matt Abernethy sold 2,558 shares of the firm's stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $116.86, for a total transaction of $298,927.88. Following the transaction, the chief financial officer now directly owns 34,775 shares of the company's stock, valued at approximately $4,063,806.50. This represents a 6.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 39,953 shares of company stock worth $4,467,990. 4.80% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on NBIX shares. William Blair reissued an "outperform" rating on shares of Neurocrine Biosciences in a research note on Friday, February 7th. StockNews.com lowered shares of Neurocrine Biosciences from a "strong-buy" rating to a "buy" rating in a research note on Thursday, March 20th. JPMorgan Chase & Co. increased their target price on shares of Neurocrine Biosciences from $183.00 to $184.00 and gave the company an "overweight" rating in a research note on Wednesday, March 26th. BMO Capital Markets boosted their price objective on shares of Neurocrine Biosciences from $96.00 to $115.00 and gave the company a "market perform" rating in a research report on Tuesday, May 6th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Neurocrine Biosciences in a research report on Tuesday, February 11th. They set a "hold" rating and a $138.00 target price on the stock. Three research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $162.00.

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.