Caisse DE Depot ET Placement DU Quebec Boosts Stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Caisse DE Depot ET Placement DU Quebec raised its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 1.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 748,359 shares of the company's stock after buying an additional 11,449 shares during the period. Caisse DE Depot ET Placement DU Quebec owned about 0.74% of Neurocrine Biosciences worth $102,151,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Utah Retirement Systems increased its stake in shares of Neurocrine Biosciences by 0.6% during the fourth quarter. Utah Retirement Systems now owns 16,583 shares of the company's stock valued at $2,264,000 after buying an additional 100 shares during the period. Soros Fund Management LLC increased its position in Neurocrine Biosciences by 33.3% during the 4th quarter. Soros Fund Management LLC now owns 200,000 shares of the company's stock valued at $27,300,000 after purchasing an additional 50,000 shares during the period. PDT Partners LLC raised its holdings in Neurocrine Biosciences by 133.2% in the 4th quarter. PDT Partners LLC now owns 34,748 shares of the company's stock worth $4,743,000 after purchasing an additional 19,848 shares in the last quarter. AQR Capital Management LLC raised its holdings in Neurocrine Biosciences by 2.9% in the 4th quarter. AQR Capital Management LLC now owns 1,896,891 shares of the company's stock worth $258,926,000 after purchasing an additional 53,610 shares in the last quarter. Finally, AdvisorShares Investments LLC purchased a new position in shares of Neurocrine Biosciences during the fourth quarter valued at about $277,000. Institutional investors own 92.59% of the company's stock.

Neurocrine Biosciences Stock Up 0.1 %

Shares of NBIX traded up $0.07 during mid-day trading on Monday, hitting $109.75. 1,820,172 shares of the company traded hands, compared to its average volume of 1,075,987. The business has a 50 day moving average of $106.19 and a 200 day moving average of $121.88. The company has a market capitalization of $10.86 billion, a PE ratio of 33.36, a price-to-earnings-growth ratio of 0.77 and a beta of 0.33. Neurocrine Biosciences, Inc. has a 1-year low of $84.23 and a 1-year high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The company reported $0.08 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's revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the company earned $1.20 EPS. As a group, research analysts expect that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

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

Analysts Set New Price Targets

Several analysts have commented on the stock. Needham & Company LLC upgraded shares of Neurocrine Biosciences from a "hold" rating to a "buy" rating and set a $138.00 price objective for the company in a report on Tuesday, April 15th. Royal Bank of Canada upgraded Neurocrine Biosciences from a "sector perform" rating to an "outperform" rating and dropped their price target for the company from $138.00 to $137.00 in a research report on Monday, April 14th. Bank of America decreased their price objective on Neurocrine Biosciences from $184.00 to $179.00 and set a "buy" rating for the company in a report on Friday, February 7th. JPMorgan Chase & Co. upped their target price on shares of Neurocrine Biosciences from $183.00 to $184.00 and gave the stock an "overweight" rating in a research report on Wednesday, March 26th. Finally, Evercore ISI lowered their price target on shares of Neurocrine Biosciences from $190.00 to $185.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. Three analysts have rated the stock with a hold rating and twenty have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $160.90.

Insider Transactions at Neurocrine Biosciences

In other news, insider Julie Cooke sold 700 shares of the business's stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $118.28, for a total value of $82,796.00. Following the completion of the transaction, the insider now owns 18,831 shares of the company's stock, valued at $2,227,330.68. The trade was a 3.58 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Kyle Gano sold 980 shares of the firm's stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $118.39, for a total value of $116,022.20. Following the sale, the chief executive officer now directly owns 137,658 shares in the company, valued at approximately $16,297,330.62. This trade represents a 0.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 13,907 shares of company stock worth $1,629,982 over the last three months. 4.30% of the stock is currently owned by insiders.

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.