Syon Capital LLC Takes $637,000 Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Syon Capital LLC acquired a new position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 4,666 shares of the company's stock, valued at approximately $637,000.

Several other large investors have also modified their holdings of NBIX. Caprock Group LLC purchased a new stake in shares of Neurocrine Biosciences in the fourth quarter valued at approximately $236,000. Charles Schwab Investment Management Inc. grew its holdings in Neurocrine Biosciences by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 762,557 shares of the company's stock worth $104,089,000 after acquiring an additional 15,266 shares in the last quarter. Tri Ri Asset Management Corp purchased a new position in Neurocrine Biosciences during the 3rd quarter valued at about $3,236,000. Oakworth Capital Inc. bought a new stake in shares of Neurocrine Biosciences in the 4th quarter valued at about $379,000. Finally, Avantax Advisory Services Inc. boosted its stake 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 valued at $395,000 after purchasing an additional 297 shares in the last quarter. Hedge funds and other institutional investors own 92.59% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on NBIX. Canaccord Genuity Group cut their price target on Neurocrine Biosciences from $163.00 to $158.00 and set a "buy" rating on the stock in a report on Monday. HC Wainwright reduced their price objective on shares of Neurocrine Biosciences from $185.00 to $168.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Morgan Stanley reaffirmed an "overweight" rating and issued a $150.00 price target (down from $185.00) on shares of Neurocrine Biosciences in a report on Friday, March 7th. Evercore ISI decreased their price objective on Neurocrine Biosciences from $190.00 to $185.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. Finally, William Blair restated an "outperform" rating on shares of Neurocrine Biosciences in a research note on Friday, February 7th. Three investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $160.90.

Insider Buying and Selling at Neurocrine Biosciences

In other news, CFO Matt Abernethy sold 1,283 shares of the firm's stock in a transaction on Friday, January 31st. The shares were sold at an average price of $152.87, for a total value of $196,132.21. Following the sale, the chief financial officer now directly owns 32,681 shares in the company, valued at approximately $4,995,944.47. This trade represents a 3.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Julie Cooke sold 1,551 shares of the firm's stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $116.78, for a total value of $181,125.78. Following the completion of the sale, the insider now owns 19,544 shares in the company, valued at approximately $2,282,348.32. This represents a 7.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,801 shares of company stock valued at $2,834,677 in the last quarter. Corporate insiders own 4.30% of the company's stock.

Neurocrine Biosciences Stock Performance

Shares of Neurocrine Biosciences stock traded up $0.02 during trading hours on Wednesday, hitting $107.26. The company's stock had a trading volume of 189,585 shares, compared to its average volume of 1,065,636. Neurocrine Biosciences, Inc. has a twelve month low of $84.23 and a twelve month high of $157.98. The stock has a market cap of $10.61 billion, a price-to-earnings ratio of 32.60, a P/E/G ratio of 0.77 and a beta of 0.33. The firm has a fifty day moving average of $106.82 and a 200-day moving average of $122.06.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last posted its earnings results on Thursday, February 6th. The company reported $1.00 earnings per share (EPS) for the quarter, missing the consensus estimate 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, sell-side analysts expect that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

Neurocrine Biosciences announced that its Board of Directors has authorized a share repurchase plan 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 plans are typically an indication that the company's board of directors believes its shares are undervalued.

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.