Envestnet Portfolio Solutions Inc. Has $391,000 Stock Holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Envestnet Portfolio Solutions Inc. grew its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 10.7% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 2,868 shares of the company’s stock after acquiring an additional 278 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Neurocrine Biosciences were worth $391,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Louisiana State Employees Retirement System increased its holdings in shares of Neurocrine Biosciences by 0.4% in the fourth quarter. Louisiana State Employees Retirement System now owns 28,100 shares of the company’s stock worth $3,836,000 after acquiring an additional 100 shares in the last quarter. Metis Global Partners LLC increased its stake in Neurocrine Biosciences by 4.3% during the 4th quarter. Metis Global Partners LLC now owns 2,548 shares of the company’s stock worth $348,000 after purchasing an additional 104 shares in the last quarter. Commerce Bank raised its holdings in Neurocrine Biosciences by 2.6% during the 3rd quarter. Commerce Bank now owns 4,199 shares of the company’s stock worth $484,000 after buying an additional 108 shares during the period. Brooklyn Investment Group lifted its stake 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 buying an additional 115 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its holdings in shares of Neurocrine Biosciences by 0.6% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 20,633 shares of the company’s stock valued at $2,816,000 after buying an additional 117 shares during the period. Institutional investors and hedge funds own 92.59% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on NBIX shares. William Blair reaffirmed an “outperform” rating on shares of Neurocrine Biosciences in a research report on Friday, February 7th. Wedbush cut their price target on Neurocrine Biosciences from $157.00 to $147.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. Deutsche Bank Aktiengesellschaft assumed coverage on Neurocrine Biosciences in a report on Tuesday, February 11th. They set a “hold” rating and a $138.00 price objective for the company. Barclays boosted their target price on Neurocrine Biosciences from $160.00 to $165.00 and gave the company an “overweight” rating in a research note on Monday, December 23rd. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $160.00 price target on shares of Neurocrine Biosciences in a research note on Monday, December 23rd. Five analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Neurocrine Biosciences has an average rating of “Moderate Buy” and an average price target of $165.38.

Insider Activity

In related news, Director Kevin Charles Gorman sold 2,707 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $152.92, for a total value of $413,954.44. Following the transaction, the director now directly owns 517,030 shares in the company, valued at approximately $79,064,227.60. This represents a 0.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Ingrid Delaet sold 272 shares of Neurocrine Biosciences stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $138.10, for a total transaction of $37,563.20. Following the completion of the sale, the insider now owns 2,507 shares of the company’s stock, valued at $346,216.70. This trade represents a 9.79 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 233,178 shares of company stock valued at $33,906,594. 4.30% of the stock is owned by insiders.

Neurocrine Biosciences Price Performance

Shares of Neurocrine Biosciences stock opened at $114.45 on Thursday. The business has a fifty day simple moving average of $125.33 and a two-hundred day simple moving average of $125.02. Neurocrine Biosciences, Inc. has a 1 year low of $105.18 and a 1 year high of $157.98. The company has a market capitalization of $11.41 billion, a price-to-earnings ratio of 34.79, a P/E/G ratio of 0.77 and a beta of 0.35.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its earnings results 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 return on equity of 13.38% and a net margin of 14.49%. As a group, equities analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

Neurocrine Biosciences announced that its board has authorized a share repurchase plan on Friday, February 21st that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to repurchase up to 4.2% of its stock through open market purchases. Stock buyback plans are often 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.