Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Holdings Lifted by Corient Private Wealth LLC

Corient Private Wealth LLC increased its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 64.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,927 shares of the company’s stock after acquiring an additional 3,094 shares during the period. Corient Private Wealth LLC’s holdings in Neurocrine Biosciences were worth $1,082,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Louisiana State Employees Retirement System increased its stake in Neurocrine Biosciences by 0.4% in the 4th quarter. Louisiana State Employees Retirement System now owns 28,100 shares of the company’s stock valued at $3,836,000 after buying an additional 100 shares during the period. Metis Global Partners LLC boosted its position in 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 purchasing an additional 104 shares during the last quarter. Commerce Bank grew its stake in Neurocrine Biosciences by 2.6% in the third quarter. Commerce Bank now owns 4,199 shares of the company’s stock valued at $484,000 after purchasing an additional 108 shares in the last quarter. Brooklyn Investment Group increased its position in Neurocrine Biosciences by 99.1% in the 4th quarter. Brooklyn Investment Group now owns 231 shares of the company’s stock worth $32,000 after purchasing an additional 115 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund raised its stake in shares of Neurocrine Biosciences by 0.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 20,633 shares of the company’s stock worth $2,816,000 after purchasing an additional 117 shares in the last quarter. 92.59% of the stock is owned by hedge funds and other institutional investors.

Neurocrine Biosciences Stock Performance

Shares of NBIX opened at $114.45 on Thursday. Neurocrine Biosciences, Inc. has a 52 week low of $105.18 and a 52 week high of $157.98. The firm has a market capitalization of $11.41 billion, a P/E ratio of 34.79, a P/E/G ratio of 0.77 and a beta of 0.35. The company has a 50-day simple moving average of $125.33 and a 200-day simple moving average of $125.02.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly 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 net margin of 14.49% and a return on equity of 13.38%. As a group, equities analysts forecast 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 buyback $500.00 million in shares. This buyback authorization authorizes the company to reacquire up to 4.2% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on NBIX. JPMorgan Chase & Co. boosted their price target on Neurocrine Biosciences from $183.00 to $184.00 and gave the company an “overweight” rating in a research note on Wednesday. Barclays increased their price target on shares of Neurocrine Biosciences from $160.00 to $165.00 and gave the stock an “overweight” rating in a research note on Monday, December 23rd. Needham & Company LLC reaffirmed a “hold” rating on shares of Neurocrine Biosciences in a research note on Friday, February 7th. Deutsche Bank Aktiengesellschaft started coverage on shares of Neurocrine Biosciences in a research report on Tuesday, February 11th. They set a “hold” rating and a $138.00 target price on the stock. Finally, UBS Group boosted their price target on Neurocrine Biosciences from $162.00 to $176.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Five analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Neurocrine Biosciences has a consensus rating of “Moderate Buy” and a consensus price target of $165.38.

Insider Buying and Selling

In related news, insider Julie Cooke sold 1,551 shares of the stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $116.78, for a total value of $181,125.78. Following the completion of the transaction, the insider now owns 19,544 shares of the company’s stock, valued at $2,282,348.32. This represents a 7.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 transaction of $681,936.36. Following the transaction, the director now owns 521,618 shares of the company’s stock, valued at approximately $60,867,604.42. This represents a 1.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 233,178 shares of company stock valued at $33,906,594 over the last ninety days. 4.30% of the stock is owned by company 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.