EverSource Wealth Advisors LLC Acquires 241 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

EverSource Wealth Advisors LLC lifted its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 107.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 466 shares of the company’s stock after acquiring an additional 241 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Neurocrine Biosciences were worth $64,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Louisiana State Employees Retirement System raised its holdings in shares of Neurocrine Biosciences by 0.4% during the fourth quarter. Louisiana State Employees Retirement System now owns 28,100 shares of the company’s stock valued at $3,836,000 after acquiring an additional 100 shares in the last quarter. Metis Global Partners LLC raised its holdings in shares of Neurocrine Biosciences by 4.3% during the fourth quarter. Metis Global Partners LLC now owns 2,548 shares of the company’s stock valued at $348,000 after acquiring an additional 104 shares in the last quarter. Commerce Bank raised its holdings in shares of Neurocrine Biosciences by 2.6% during the third quarter. Commerce Bank now owns 4,199 shares of the company’s stock valued at $484,000 after acquiring an additional 108 shares in the last quarter. Brooklyn Investment Group raised its holdings 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 in the last quarter. Finally, Oregon Public Employees Retirement Fund raised its holdings in shares of Neurocrine Biosciences by 0.6% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 20,633 shares of the company’s stock valued at $2,816,000 after acquiring an additional 117 shares in the last quarter. Institutional investors own 92.59% of the company’s stock.

Neurocrine Biosciences Price Performance

Neurocrine Biosciences stock opened at $110.31 on Thursday. Neurocrine Biosciences, Inc. has a one year low of $105.18 and a one year high of $157.98. The stock has a market capitalization of $11.00 billion, a PE ratio of 33.53, a price-to-earnings-growth ratio of 0.77 and a beta of 0.35. The business’s fifty day moving average is $128.06 and its 200 day moving average is $125.36.

Neurocrine Biosciences (NASDAQ:NBIX) last released 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%. As a group, sell-side analysts expect that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

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

Insiders Place Their Bets

In other Neurocrine Biosciences news, Director Kevin Charles Gorman sold 5,844 shares of the firm’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $116.69, for a total value of $681,936.36. Following the transaction, the director now directly owns 521,618 shares of the company’s stock, valued at approximately $60,867,604.42. This trade represents a 1.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Ingrid Delaet sold 272 shares of the firm’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 completion of the transaction, the insider now directly owns 2,507 shares in the company, 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. Over the last three months, insiders have sold 233,178 shares of company stock valued at $33,906,594. Insiders own 4.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on NBIX. Guggenheim decreased their price objective on Neurocrine Biosciences from $165.00 to $163.00 and set a “buy” rating for the company in a report on Monday, February 10th. StockNews.com downgraded Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a report on Thursday. Morgan Stanley reiterated an “overweight” rating and issued a $150.00 price objective (down previously from $185.00) on shares of Neurocrine Biosciences in a report on Friday, March 7th. Bank of America decreased their price objective on Neurocrine Biosciences from $184.00 to $179.00 and set a “buy” rating for the company in a report on Friday, February 7th. Finally, Canaccord Genuity Group decreased their price objective on Neurocrine Biosciences from $172.00 to $163.00 and set a “buy” rating for the company in a report on Friday, February 7th. Five investment 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 company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $165.24.

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.