Northern Trust Corp Has $134.04 Million Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Northern Trust Corp grew its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 27.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 981,939 shares of the company's stock after acquiring an additional 210,315 shares during the quarter. Northern Trust Corp owned about 0.97% of Neurocrine Biosciences worth $134,035,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in NBIX. Caprock Group LLC bought a new position in Neurocrine Biosciences in the fourth quarter worth about $236,000. Charles Schwab Investment Management Inc. boosted its stake in Neurocrine Biosciences by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 762,557 shares of the company's stock valued at $104,089,000 after acquiring an additional 15,266 shares in the last quarter. Oakworth Capital Inc. purchased a new position in Neurocrine Biosciences in the fourth quarter worth $379,000. Avantax Advisory Services Inc. increased its position in shares of Neurocrine Biosciences by 11.4% during the fourth quarter. Avantax Advisory Services Inc. now owns 2,895 shares of the company's stock worth $395,000 after purchasing an additional 297 shares in the last quarter. Finally, Synergy Asset Management LLC purchased a new stake in shares of Neurocrine Biosciences during the 4th quarter valued at $996,000. 92.59% of the stock is owned by institutional investors.

Neurocrine Biosciences Stock Up 8.4 %

NBIX stock traded up $9.17 during trading on Tuesday, hitting $118.92. The company had a trading volume of 5,029,136 shares, compared to its average volume of 1,091,738. Neurocrine Biosciences, Inc. has a 1-year low of $84.23 and a 1-year high of $157.98. The firm has a market cap of $11.77 billion, a PE ratio of 36.15, a price-to-earnings-growth ratio of 0.77 and a beta of 0.26. The firm has a 50-day moving average price of $106.03 and a 200-day moving average price of $121.83.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The company reported $0.08 earnings per share (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 had revenue of $572.60 million for the quarter, compared to analyst estimates of $587.06 million. During the same period last year, the firm earned $1.20 EPS. The company's quarterly revenue was up 11.1% compared to the same quarter last year. Sell-side analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.

Neurocrine Biosciences declared that its board has initiated a stock buyback program on Friday, February 21st that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 4.2% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's board believes its stock is undervalued.

Analyst Ratings Changes

A number of equities research analysts have commented on NBIX shares. Wedbush reiterated an "outperform" rating on shares of Neurocrine Biosciences in a research note on Tuesday. Evercore ISI cut their price objective on shares of Neurocrine Biosciences from $190.00 to $185.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th. William Blair reissued an "outperform" rating on shares of Neurocrine Biosciences in a research report on Friday, February 7th. Royal Bank of Canada raised their price target on shares of Neurocrine Biosciences from $137.00 to $145.00 and gave the stock an "outperform" rating in a report on Tuesday. Finally, StockNews.com lowered shares of Neurocrine Biosciences from a "strong-buy" rating to a "buy" rating in a report on Thursday, March 20th. Three analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $162.00.

Insider Transactions at Neurocrine Biosciences

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

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.