MetLife Investment Management LLC Raises Stock Holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

MetLife Investment Management LLC boosted its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 8.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 61,442 shares of the company's stock after purchasing an additional 4,735 shares during the quarter. MetLife Investment Management LLC owned about 0.06% of Neurocrine Biosciences worth $8,387,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Virtu Financial LLC purchased a new position in shares of Neurocrine Biosciences in the 3rd quarter valued at $1,985,000. Sanctuary Advisors LLC increased its holdings in shares of Neurocrine Biosciences by 103.9% in the 3rd quarter. Sanctuary Advisors LLC now owns 7,649 shares of the company's stock valued at $961,000 after acquiring an additional 3,898 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in shares of Neurocrine Biosciences in the 3rd quarter valued at $384,000. Tidal Investments LLC increased its holdings in shares of Neurocrine Biosciences by 52.8% in the 3rd quarter. Tidal Investments LLC now owns 15,043 shares of the company's stock valued at $1,733,000 after acquiring an additional 5,197 shares during the period. Finally, Tri Ri Asset Management Corp purchased a new position in shares of Neurocrine Biosciences in the 3rd quarter valued at $3,236,000. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on NBIX shares. Wedbush cut their price target on Neurocrine Biosciences from $157.00 to $147.00 and set an "outperform" rating on the stock in a report on Friday, February 7th. Needham & Company LLC upgraded Neurocrine Biosciences from a "hold" rating to a "buy" rating and set a $138.00 target price on the stock in a research note on Tuesday, April 15th. William Blair restated an "outperform" rating on shares of Neurocrine Biosciences in a research note on Friday, February 7th. Bank of America dropped their target price on Neurocrine Biosciences from $184.00 to $179.00 and set a "buy" rating on the stock in a research note on Friday, February 7th. Finally, Royal Bank of Canada upgraded Neurocrine Biosciences from a "sector perform" rating to an "outperform" rating and dropped their target price for the stock from $138.00 to $137.00 in a research note on Monday, April 14th. Three equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $161.14.

Insider Activity at Neurocrine Biosciences

In other Neurocrine Biosciences news, CFO Matt Abernethy sold 1,283 shares of Neurocrine Biosciences stock in a transaction on Friday, January 31st. The shares were sold at an average price of $152.87, for a total transaction of $196,132.21. Following the sale, the chief financial officer now owns 32,681 shares of the company's stock, valued at $4,995,944.47. The trade was a 3.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Julie Cooke sold 1,551 shares of Neurocrine Biosciences stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $116.78, for a total transaction of $181,125.78. Following the sale, the insider now directly owns 19,544 shares in the company, valued at approximately $2,282,348.32. This trade represents a 7.35 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 167,906 shares of company stock valued at $24,671,530. 4.30% of the stock is owned by company insiders.

Neurocrine Biosciences Stock Up 0.9 %

Shares of NASDAQ:NBIX traded up $0.97 during trading on Friday, hitting $106.73. 1,328,294 shares of the stock traded hands, compared to its average volume of 1,068,286. The company has a market cap of $10.56 billion, a price-to-earnings ratio of 32.44, a P/E/G ratio of 0.77 and a beta of 0.33. The company has a fifty day moving average price of $107.16 and a two-hundred day moving average price of $122.22. 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 net margin of 14.49% and a return on equity of 13.38%. 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 has approved a stock repurchase program on Friday, February 21st that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 4.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company's leadership believes its shares are undervalued.

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.