Avantax Advisory Services Inc. Acquires 297 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Avantax Advisory Services Inc. boosted its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 11.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,895 shares of the company’s stock after buying an additional 297 shares during the period. Avantax Advisory Services Inc.’s holdings in Neurocrine Biosciences were worth $395,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of NBIX. Golden State Wealth Management LLC acquired a new stake in shares of Neurocrine Biosciences in the fourth quarter worth $25,000. Brooklyn Investment Group boosted its holdings in Neurocrine Biosciences by 99.1% in the 4th quarter. Brooklyn Investment Group now owns 231 shares of the company’s stock valued at $32,000 after purchasing an additional 115 shares during the period. Lindbrook Capital LLC grew its position in Neurocrine Biosciences by 53.5% in the 4th quarter. Lindbrook Capital LLC now owns 373 shares of the company’s stock worth $51,000 after purchasing an additional 130 shares during the last quarter. R Squared Ltd bought a new position in shares of Neurocrine Biosciences during the 4th quarter worth about $61,000. Finally, UMB Bank n.a. raised its position 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 buying an additional 309 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Neurocrine Biosciences

In other news, Director Kevin Charles Gorman sold 5,844 shares of the business’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $116.69, for a total transaction of $681,936.36. Following the completion of the sale, the director now owns 521,618 shares in the company, valued at $60,867,604.42. The trade was a 1.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Matt Abernethy sold 1,283 shares of the firm’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $152.87, for a total value of $196,132.21. Following the completion of the transaction, 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 233,178 shares of company stock worth $33,906,594. Corporate insiders own 4.30% of the company’s stock.

Analyst Upgrades and Downgrades

NBIX has been the topic of a number of recent research reports. Bank of America decreased their target price on Neurocrine Biosciences from $184.00 to $179.00 and set a “buy” rating on the stock in a research report on Friday, February 7th. Deutsche Bank Aktiengesellschaft assumed coverage on Neurocrine Biosciences in a research report on Tuesday, February 11th. They issued a “hold” rating and a $138.00 price objective for the company. Needham & Company LLC restated a “hold” rating on shares of Neurocrine Biosciences in a research report on Friday, February 7th. Royal Bank of Canada reduced their target price on Neurocrine Biosciences from $154.00 to $148.00 and set a “sector perform” rating for the company in a research report on Friday, February 7th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $150.00 price target (down previously from $185.00) on shares of Neurocrine Biosciences in a research note on Friday, March 7th. Five research 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 company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $165.24.

Neurocrine Biosciences Stock Performance

Shares of NBIX opened at $115.60 on Tuesday. The company has a market cap of $11.53 billion, a price-to-earnings ratio of 35.14, a PEG ratio of 0.77 and a beta of 0.35. The stock has a fifty day moving average price of $126.35 and a two-hundred day moving average price of $125.13. Neurocrine Biosciences, Inc. has a 52-week low of $105.18 and a 52-week high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings results on Thursday, February 6th. The company reported $1.00 earnings per share (EPS) 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 predict that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

Neurocrine Biosciences declared that its Board of Directors has initiated a share repurchase plan on Friday, February 21st that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 4.2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

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.