GW&K Investment Management LLC Grows Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

GW&K Investment Management LLC lifted its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 0.8% during the 4th quarter, Holdings Channel reports. The firm owned 514,082 shares of the company’s stock after acquiring an additional 3,993 shares during the period. GW&K Investment Management LLC’s holdings in Neurocrine Biosciences were worth $70,172,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Golden State Wealth Management LLC purchased a new stake in Neurocrine Biosciences during the 4th quarter valued at $25,000. Brooklyn Investment Group raised its stake in shares of Neurocrine Biosciences by 99.1% during the fourth quarter. Brooklyn Investment Group now owns 231 shares of the company’s stock valued at $32,000 after acquiring an additional 115 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Neurocrine Biosciences by 171.9% during the third quarter. Blue Trust Inc. now owns 348 shares of the company’s stock worth $40,000 after purchasing an additional 220 shares during the period. R Squared Ltd bought a new stake in shares of Neurocrine Biosciences in the fourth quarter worth about $61,000. Finally, UMB Bank n.a. increased its holdings in Neurocrine Biosciences by 211.6% during the 4th quarter. UMB Bank n.a. now owns 455 shares of the company’s stock valued at $62,000 after purchasing an additional 309 shares during the period. 92.59% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Neurocrine Biosciences

In related news, Director Kevin Charles Gorman sold 2,707 shares of the company’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $152.92, for a total transaction of $413,954.44. Following the completion of the transaction, the director now owns 517,030 shares in the company, valued at approximately $79,064,227.60. This represents a 0.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction of $196,132.21. Following the transaction, the chief financial officer now directly owns 32,681 shares of the company’s stock, valued at $4,995,944.47. The trade was a 3.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 234,269 shares of company stock valued at $34,053,879 over the last ninety days. 4.30% of the stock is currently owned by company insiders.

Neurocrine Biosciences Trading Down 0.1 %

NASDAQ NBIX opened at $117.51 on Friday. Neurocrine Biosciences, Inc. has a 12 month low of $110.95 and a 12 month high of $157.98. The stock has a market cap of $11.72 billion, a price-to-earnings ratio of 35.72, a PEG ratio of 0.77 and a beta of 0.33. The company’s 50 day moving average is $135.23 and its two-hundred day moving average is $128.73.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings data on Thursday, February 6th. The company reported $1.00 EPS for the quarter, missing the consensus estimate of $1.62 by ($0.62). Neurocrine Biosciences had a net margin of 14.49% and a return on equity of 13.38%. Sell-side analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

Neurocrine Biosciences declared that its Board of Directors has authorized a share buyback plan on Friday, February 21st that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to reacquire up to 4.2% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

Several research firms have weighed in on NBIX. Needham & Company LLC reiterated a “hold” rating on shares of Neurocrine Biosciences in a report on Friday, February 7th. Royal Bank of Canada decreased their target price on Neurocrine Biosciences from $154.00 to $148.00 and set a “sector perform” rating for the company in a report on Friday, February 7th. Piper Sandler reiterated an “overweight” rating and issued a $160.00 price target on shares of Neurocrine Biosciences in a report on Monday, December 23rd. UBS Group boosted their price objective on shares of Neurocrine Biosciences from $162.00 to $176.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $185.00 target price on shares of Neurocrine Biosciences in a research report on Friday, February 21st. Five research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $166.90.

Neurocrine Biosciences Company 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.