Soros Fund Management LLC Boosts Stock Holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Soros Fund Management LLC boosted its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 33.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 200,000 shares of the company's stock after buying an additional 50,000 shares during the quarter. Soros Fund Management LLC owned approximately 0.20% of Neurocrine Biosciences worth $27,300,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NBIX. Golden State Wealth Management LLC bought a new position in shares of Neurocrine Biosciences in the fourth quarter worth about $25,000. Huntington National Bank lifted its stake in Neurocrine Biosciences by 73.5% in the 4th quarter. Huntington National Bank now owns 229 shares of the company's stock valued at $31,000 after purchasing an additional 97 shares during the last quarter. Brooklyn Investment Group lifted its stake in Neurocrine Biosciences by 99.1% in the 4th quarter. Brooklyn Investment Group now owns 231 shares of the company's stock valued at $32,000 after purchasing an additional 115 shares during the last quarter. GeoWealth Management LLC boosted its position in Neurocrine Biosciences by 65.4% in the fourth quarter. GeoWealth Management LLC now owns 258 shares of the company's stock valued at $35,000 after buying an additional 102 shares in the last quarter. Finally, Lindbrook Capital LLC grew its stake in shares of Neurocrine Biosciences by 53.5% during the fourth quarter. Lindbrook Capital LLC now owns 373 shares of the company's stock worth $51,000 after buying an additional 130 shares during the last quarter. Institutional investors own 92.59% of the company's stock.

Insider Transactions at Neurocrine Biosciences

In other Neurocrine Biosciences news, Director Kevin Charles Gorman sold 5,844 shares of the business's 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 completion of the sale, the director now owns 521,618 shares in the company, valued at approximately $60,867,604.42. The trade was a 1.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed 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 shares were sold at an average price of $116.86, for a total transaction of $298,927.88. Following the completion of the transaction, the chief financial officer now directly owns 34,775 shares in the company, valued at $4,063,806.50. This trade represents a 6.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 14,530 shares of company stock valued at $1,722,989 over the last ninety days. 4.30% of the stock is owned by company insiders.

Neurocrine Biosciences Stock Performance

Shares of NASDAQ NBIX traded up $3.09 during trading on Friday, hitting $109.68. 1,700,281 shares of the company traded hands, compared to its average volume of 1,071,166. The firm has a market capitalization of $10.85 billion, a price-to-earnings ratio of 33.34, a P/E/G ratio of 0.77 and a beta of 0.33. The business's fifty day moving average is $106.31 and its 200 day moving average is $121.89. Neurocrine Biosciences, Inc. has a fifty-two week low of $84.23 and a fifty-two week high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last posted its quarterly earnings results 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%. On average, analysts predict that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

Neurocrine Biosciences announced that its Board of Directors has approved a stock repurchase program on Friday, February 21st that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to purchase up to 4.2% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's leadership believes its stock is undervalued.

Analyst Ratings Changes

Several equities research analysts recently weighed in on NBIX shares. HC Wainwright cut their price objective on Neurocrine Biosciences from $185.00 to $168.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Evercore ISI cut their price target on Neurocrine Biosciences from $190.00 to $185.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. Guggenheim lowered their price objective on Neurocrine Biosciences from $165.00 to $163.00 and set a "buy" rating for the company in a research note on Monday, February 10th. StockNews.com downgraded shares of Neurocrine Biosciences from a "strong-buy" rating to a "buy" rating in a research report on Thursday, March 20th. Finally, Wedbush decreased their price target on shares of Neurocrine Biosciences from $157.00 to $147.00 and set an "outperform" rating for the company in a research report on Friday, February 7th. Three equities 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.com, Neurocrine Biosciences currently has an average rating of "Moderate Buy" and a consensus price target of $160.90.

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.