Raiffeisen Bank International AG Makes New Investment in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Raiffeisen Bank International AG purchased a new position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 11,400 shares of the company's stock, valued at approximately $1,563,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of NBIX. OneDigital Investment Advisors LLC grew its holdings in Neurocrine Biosciences by 2.1% in the 4th quarter. OneDigital Investment Advisors LLC now owns 4,215 shares of the company's stock valued at $575,000 after buying an additional 87 shares in the last quarter. HighPoint Advisor Group LLC grew its holdings in shares of Neurocrine Biosciences by 4.1% in the fourth quarter. HighPoint Advisor Group LLC now owns 2,446 shares of the company's stock valued at $334,000 after purchasing an additional 96 shares during the period. Huntington National Bank raised its stake in Neurocrine Biosciences by 73.5% during the fourth quarter. Huntington National Bank now owns 229 shares of the company's stock worth $31,000 after purchasing an additional 97 shares during the period. Louisiana State Employees Retirement System boosted its holdings in Neurocrine Biosciences by 0.4% in the 4th quarter. Louisiana State Employees Retirement System now owns 28,100 shares of the company's stock valued at $3,836,000 after purchasing an additional 100 shares during the last quarter. Finally, Utah Retirement Systems grew its stake in shares of Neurocrine Biosciences by 0.6% in the 4th 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. 92.59% of the stock is owned by hedge funds and other institutional investors.

Neurocrine Biosciences Trading Up 0.1%

NBIX traded up $0.14 during trading hours on Tuesday, hitting $122.96. 1,194,146 shares of the company's stock were exchanged, compared to its average volume of 1,131,830. The firm has a 50 day moving average of $107.30 and a 200 day moving average of $121.93. The firm has a market cap of $12.17 billion, a P/E ratio of 37.37, 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 issued its earnings results on Monday, May 5th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.62). Neurocrine Biosciences had a net margin of 14.49% and a return on equity of 13.38%. The firm had revenue of $572.60 million during the quarter, compared to analyst estimates of $587.06 million. During the same period last year, the business earned $1.20 EPS. The firm's revenue was up 11.1% compared to the same quarter last year. 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 has authorized a share repurchase program on Friday, February 21st that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 4.2% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's management believes its shares are undervalued.

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 stock was sold at an average price of $110.20, for a total transaction of $3,306,000.00. Following the sale, the director now owns 37,491 shares of the company's stock, valued at approximately $4,131,508.20. This trade represents a 44.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 4.80% of the company's stock.

Analyst Ratings Changes

NBIX has been the topic of a number of recent analyst reports. Evercore ISI decreased their price objective on Neurocrine Biosciences from $190.00 to $185.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th. Deutsche Bank Aktiengesellschaft initiated coverage on Neurocrine Biosciences in a research report on Tuesday, February 11th. They issued a "hold" rating and a $138.00 target price on the stock. Bank of America reduced their target price on Neurocrine Biosciences from $184.00 to $179.00 and set a "buy" rating on the stock in a research report on Friday, February 7th. UBS Group lifted their target price on Neurocrine Biosciences from $137.00 to $152.00 and gave the company a "buy" rating in a research report on Tuesday, May 6th. Finally, BMO Capital Markets lifted their target price on Neurocrine Biosciences from $96.00 to $115.00 and gave the company a "market perform" rating in a research report on Tuesday, May 6th. Three analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat.com, Neurocrine Biosciences currently 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.