QRG Capital Management Inc. Has $2.56 Million Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

QRG Capital Management Inc. boosted its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 2.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 18,732 shares of the company’s stock after purchasing an additional 453 shares during the period. QRG Capital Management Inc.’s holdings in Neurocrine Biosciences were worth $2,557,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Golden State Wealth Management LLC bought a new stake in shares of Neurocrine Biosciences in the 4th quarter valued at approximately $25,000. Brooklyn Investment Group grew its position in Neurocrine Biosciences by 99.1% in 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 period. Blue Trust Inc. grew its position in Neurocrine Biosciences by 171.9% in the third quarter. Blue Trust Inc. now owns 348 shares of the company’s stock valued at $40,000 after acquiring an additional 220 shares during the period. R Squared Ltd acquired a new position in Neurocrine Biosciences during the fourth quarter worth $61,000. Finally, UMB Bank n.a. lifted its holdings in shares of Neurocrine Biosciences by 211.6% during the fourth quarter. UMB Bank n.a. now owns 455 shares of the company’s stock valued at $62,000 after acquiring an additional 309 shares during the period. Institutional investors and hedge funds own 92.59% of the company’s stock.

Neurocrine Biosciences Trading Up 1.0 %

Neurocrine Biosciences stock opened at $118.72 on Friday. Neurocrine Biosciences, Inc. has a 1 year low of $110.95 and a 1 year high of $157.98. The company’s 50-day moving average is $134.90 and its two-hundred day moving average is $128.38. The company has a market cap of $11.84 billion, a PE ratio of 36.08, a PEG ratio of 0.77 and a beta of 0.33.

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

Neurocrine Biosciences announced that its board has authorized a stock buyback program on Friday, February 21st that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to repurchase 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.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $185.00 target price on shares of Neurocrine Biosciences in a report on Friday, February 21st. Canaccord Genuity Group decreased their price objective on shares of Neurocrine Biosciences from $172.00 to $163.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. Wedbush cut their target price on shares of Neurocrine Biosciences from $157.00 to $147.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Barclays boosted their target price on Neurocrine Biosciences from $160.00 to $165.00 and gave the stock an “overweight” rating in a report on Monday, December 23rd. Finally, Guggenheim dropped their price target on Neurocrine Biosciences from $165.00 to $163.00 and set a “buy” rating for the company in a report on Monday, February 10th. Five analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $166.90.

Insider Transactions at Neurocrine Biosciences

In other Neurocrine Biosciences news, CFO Matt Abernethy sold 2,558 shares of the stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $116.86, for a total value of $298,927.88. Following the transaction, the chief financial officer now owns 34,775 shares of the company’s stock, valued at approximately $4,063,806.50. This represents a 6.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Ingrid Delaet sold 272 shares of the business’s stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $138.10, for a total value of $37,563.20. Following the transaction, the insider now owns 2,507 shares of the company’s stock, valued at $346,216.70. The trade was a 9.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 234,269 shares of company stock worth $34,053,879 in the last three months. Insiders own 4.30% of the company’s stock.

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.