Sound View Wealth Advisors Group LLC Raises Stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Sound View Wealth Advisors Group LLC grew its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 15.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 4,936 shares of the company’s stock after acquiring an additional 652 shares during the period. Sound View Wealth Advisors Group LLC’s holdings in Neurocrine Biosciences were worth $674,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Golden State Wealth Management LLC bought a new position in Neurocrine Biosciences in the 4th quarter worth approximately $25,000. Brooklyn Investment Group boosted its position in shares of Neurocrine Biosciences by 99.1% during the fourth quarter. Brooklyn Investment Group now owns 231 shares of the company’s stock worth $32,000 after acquiring an additional 115 shares during the last quarter. Lindbrook Capital LLC grew its stake in Neurocrine Biosciences by 53.5% during the fourth quarter. Lindbrook Capital LLC now owns 373 shares of the company’s stock valued at $51,000 after acquiring an additional 130 shares in the last quarter. R Squared Ltd purchased a new position in Neurocrine Biosciences during the fourth quarter valued at $61,000. Finally, UMB Bank n.a. increased its holdings in Neurocrine Biosciences by 211.6% in the 4th 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 last quarter. 92.59% of the stock is owned by hedge funds and other institutional investors.

Neurocrine Biosciences Price Performance

Neurocrine Biosciences stock opened at $113.04 on Monday. The stock has a market cap of $11.27 billion, a price-to-earnings ratio of 34.36, a price-to-earnings-growth ratio of 0.77 and a beta of 0.35. The firm has a 50-day moving average of $132.47 and a two-hundred day moving average of $127.02. Neurocrine Biosciences, Inc. has a 1 year low of $110.25 and a 1 year high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings results 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 expect that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.

Neurocrine Biosciences declared that its board has approved a stock buyback program on Friday, February 21st that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 4.2% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

NBIX has been the topic of a number of research analyst reports. Guggenheim decreased their target price on Neurocrine Biosciences from $165.00 to $163.00 and set a “buy” rating on the stock in a research report on Monday, February 10th. UBS Group increased their target price on Neurocrine Biosciences from $162.00 to $176.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Barclays boosted their price target on shares of Neurocrine Biosciences from $160.00 to $165.00 and gave the stock an “overweight” rating in a research report on Monday, December 23rd. HC Wainwright reiterated a “buy” rating and set a $185.00 price objective on shares of Neurocrine Biosciences in a research report on Friday, February 21st. Finally, StockNews.com downgraded shares of Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 18th. Five investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $165.24.

Insider Transactions at Neurocrine Biosciences

In other news, CEO Kyle Gano sold 65,000 shares of the stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $141.50, for a total transaction of $9,197,500.00. Following the transaction, the chief executive officer now directly owns 135,392 shares in the company, valued at approximately $19,157,968. This trade represents a 32.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Matt Abernethy sold 2,558 shares of Neurocrine Biosciences stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $116.86, for a total transaction of $298,927.88. Following the transaction, the chief financial officer now directly owns 34,775 shares in the company, valued at approximately $4,063,806.50. The trade was a 6.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 234,269 shares of company stock valued at $34,053,879. 4.30% of the stock is currently owned by corporate insiders.

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.