Driehaus Capital Management LLC Has $14.05 Million Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Driehaus Capital Management LLC boosted its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 45.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 102,921 shares of the company's stock after purchasing an additional 32,114 shares during the period. Driehaus Capital Management LLC owned about 0.10% of Neurocrine Biosciences worth $14,049,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Cetera Investment Advisers lifted its holdings in Neurocrine Biosciences by 46.5% in the fourth quarter. Cetera Investment Advisers now owns 8,169 shares of the company's stock valued at $1,115,000 after buying an additional 2,593 shares during the period. Cercano Management LLC acquired a new stake in Neurocrine Biosciences during the fourth quarter worth approximately $3,276,000. Brevan Howard Capital Management LP increased its holdings in Neurocrine Biosciences by 8.3% in the fourth quarter. Brevan Howard Capital Management LP now owns 6,600 shares of the company's stock worth $901,000 after purchasing an additional 507 shares in the last quarter. Captrust Financial Advisors lifted its stake in Neurocrine Biosciences by 18.7% in the fourth quarter. Captrust Financial Advisors now owns 11,644 shares of the company's stock valued at $1,589,000 after buying an additional 1,836 shares during the period. Finally, Baird Financial Group Inc. boosted its holdings in shares of Neurocrine Biosciences by 82.0% during the 4th quarter. Baird Financial Group Inc. now owns 54,717 shares of the company's stock worth $7,469,000 after buying an additional 24,657 shares in the last quarter. 92.59% of the stock is owned by institutional investors.

Insider Activity

In other news, Director William H. Rastetter sold 30,000 shares of the firm's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $110.20, for a total value of $3,306,000.00. Following the transaction, the director now directly owns 37,491 shares in the company, valued at approximately $4,131,508.20. This trade represents a 44.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Julie Cooke sold 1,551 shares of the stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $116.78, for a total value of $181,125.78. Following the sale, the insider now owns 19,544 shares in the company, valued at $2,282,348.32. The trade was a 7.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 39,953 shares of company stock valued at $4,467,990 over the last 90 days. Insiders own 4.80% of the company's stock.

Neurocrine Biosciences Stock Performance

NASDAQ NBIX traded down $3.56 on Tuesday, reaching $116.87. The stock had a trading volume of 1,196,265 shares, compared to its average volume of 1,119,744. The business's 50-day moving average price is $106.36 and its 200 day moving average price is $121.93. The stock has a market cap of $11.57 billion, a P/E ratio of 35.52, a price-to-earnings-growth ratio of 0.77 and a beta of 0.26. Neurocrine Biosciences, Inc. has a 12-month low of $84.23 and a 12-month high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The company reported $0.08 earnings per share for the quarter, missing analysts' consensus estimates of $0.70 by ($0.62). Neurocrine Biosciences had a net margin of 14.49% and a return on equity of 13.38%. The business had revenue of $572.60 million during the quarter, compared to analysts' expectations of $587.06 million. During the same period in the prior year, the firm posted $1.20 EPS. Neurocrine Biosciences's revenue for the quarter was up 11.1% compared to the same quarter last year. On average, sell-side analysts predict that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.

Neurocrine Biosciences announced that its board has approved a share buyback program on Friday, February 21st that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 4.2% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's board believes its shares are undervalued.

Analysts Set New Price Targets

Several brokerages recently weighed in on NBIX. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Neurocrine Biosciences in a research report on Tuesday, February 11th. They issued a "hold" rating and a $138.00 price target on the stock. Bank of America cut their price target on shares of Neurocrine Biosciences from $184.00 to $179.00 and set a "buy" rating for the company in a report on Friday, February 7th. Piper Sandler reiterated an "overweight" rating and issued a $154.00 price objective (down from $160.00) on shares of Neurocrine Biosciences in a report on Tuesday, May 6th. BMO Capital Markets lifted their price target on Neurocrine Biosciences from $96.00 to $115.00 and gave the stock a "market perform" rating in a research note on Tuesday, May 6th. Finally, Canaccord Genuity Group boosted their price target on Neurocrine Biosciences from $158.00 to $160.00 and gave the company a "buy" rating in a report on Tuesday, May 6th. 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.com, Neurocrine Biosciences presently has an average rating of "Moderate Buy" and an average price target of $162.00.

Neurocrine Biosciences 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.