Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Shares Acquired by Edgestream Partners L.P.

Edgestream Partners L.P. increased its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 138.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,574 shares of the company’s stock after buying an additional 7,308 shares during the quarter. Edgestream Partners L.P.’s holdings in Neurocrine Biosciences were worth $1,716,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Caprock Group LLC acquired a new stake in shares of Neurocrine Biosciences during the fourth quarter worth $236,000. Charles Schwab Investment Management Inc. raised its position in shares of Neurocrine Biosciences by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 762,557 shares of the company’s stock worth $104,089,000 after purchasing an additional 15,266 shares during the period. Plato Investment Management Ltd raised its position in shares of Neurocrine Biosciences by 2,481.9% during the third quarter. Plato Investment Management Ltd now owns 10,973 shares of the company’s stock worth $1,263,000 after purchasing an additional 10,548 shares during the period. Swiss National Bank raised its position in shares of Neurocrine Biosciences by 1.4% during the third quarter. Swiss National Bank now owns 298,700 shares of the company’s stock worth $34,416,000 after purchasing an additional 4,100 shares during the period. Finally, Tri Ri Asset Management Corp acquired a new stake in shares of Neurocrine Biosciences during the third quarter worth $3,236,000. Institutional investors and hedge funds own 92.59% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on NBIX. Canaccord Genuity Group cut their target price on Neurocrine Biosciences from $172.00 to $163.00 and set a “buy” rating on the stock in a research report on Friday, February 7th. Wedbush cut their target price on Neurocrine Biosciences from $157.00 to $147.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. HC Wainwright reissued a “buy” rating and set a $185.00 price target on shares of Neurocrine Biosciences in a research report on Friday, February 21st. Guggenheim dropped their price target 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. Finally, Barclays upped their price target on Neurocrine Biosciences from $160.00 to $165.00 and gave the company an “overweight” rating in a research report on Monday, December 23rd. Five investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Neurocrine Biosciences currently has a consensus rating of “Moderate Buy” and a consensus target price of $165.24.

Insider Transactions at Neurocrine Biosciences

In other news, CFO Matt Abernethy sold 1,283 shares of the company’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $152.87, for a total transaction of $196,132.21. Following the completion of the sale, the chief financial officer now owns 32,681 shares in the company, valued at approximately $4,995,944.47. This represents a 3.78 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Ingrid Delaet sold 272 shares of the company’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 sale, the insider now owns 2,507 shares of the company’s stock, valued at approximately $346,216.70. This trade represents a 9.79 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 234,269 shares of company stock worth $34,053,879. 4.30% of the stock is owned by corporate insiders.

Neurocrine Biosciences Price Performance

Shares of NBIX stock opened at $110.87 on Tuesday. Neurocrine Biosciences, Inc. has a fifty-two week low of $110.25 and a fifty-two week high of $157.98. The stock’s 50-day moving average is $131.95 and its two-hundred day moving average is $126.73. The firm has a market cap of $11.05 billion, a P/E ratio of 33.70, a PEG ratio of 0.77 and a beta of 0.35.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its earnings results on Thursday, February 6th. The company reported $1.00 earnings per share 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%. As a group, research analysts expect that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

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

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.