Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Shares Bought by PDT Partners LLC

PDT Partners LLC raised its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 133.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,748 shares of the company's stock after purchasing an additional 19,848 shares during the period. PDT Partners LLC's holdings in Neurocrine Biosciences were worth $4,743,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. Golden State Wealth Management LLC bought a new position in shares of Neurocrine Biosciences during the 4th quarter valued at approximately $25,000. Huntington National Bank increased its position in Neurocrine Biosciences by 73.5% during the fourth 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 raised 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 acquiring an additional 115 shares during the period. GeoWealth Management LLC lifted its holdings in shares of Neurocrine Biosciences by 65.4% in the 4th quarter. GeoWealth Management LLC now owns 258 shares of the company's stock worth $35,000 after acquiring an additional 102 shares during the last quarter. Finally, Lindbrook Capital LLC lifted its holdings 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 acquiring an additional 130 shares during the last quarter. 92.59% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. HC Wainwright reduced their price objective on shares of Neurocrine Biosciences from $185.00 to $168.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. William Blair reissued an "outperform" rating on shares of Neurocrine Biosciences in a research note on Friday, February 7th. Evercore ISI cut their price objective on Neurocrine Biosciences from $190.00 to $185.00 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. JPMorgan Chase & Co. lifted their target price on Neurocrine Biosciences from $183.00 to $184.00 and gave the stock an "overweight" rating in a research report on Wednesday, March 26th. Finally, UBS Group lowered their target price on shares of Neurocrine Biosciences from $154.00 to $137.00 and set a "buy" rating for the company in a research note on Friday, April 4th. Three research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $160.90.

Insiders Place Their Bets

In related news, CEO Kyle Gano sold 980 shares of the company's stock in a transaction on Monday, February 10th. The stock was sold at an average price of $118.39, for a total value of $116,022.20. Following the transaction, the chief executive officer now directly owns 137,658 shares of the company's stock, valued at $16,297,330.62. This represents a 0.71 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ingrid Delaet sold 623 shares of Neurocrine Biosciences stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $149.29, for a total value of $93,007.67. Following the sale, the insider now directly owns 3,442 shares of the company's stock, valued at approximately $513,856.18. This represents a 15.33 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 14,530 shares of company stock valued at $1,722,989. 4.30% of the stock is currently owned by corporate insiders.

Neurocrine Biosciences Stock Up 2.9 %

Shares of NASDAQ NBIX traded up $3.09 during trading hours on Friday, hitting $109.68. 1,700,281 shares of the stock were exchanged, compared to its average volume of 1,071,166. Neurocrine Biosciences, Inc. has a 12 month low of $84.23 and a 12 month high of $157.98. The firm has a fifty day moving average price of $106.31 and a 200-day moving average price of $121.89. The company has a market cap of $10.85 billion, a PE ratio of 33.34, a PEG ratio of 0.77 and a beta of 0.33.

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

Neurocrine Biosciences announced that its board has approved a share buyback program 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 programs are usually a sign that the company's leadership believes its stock is 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.