2Xideas AG Purchases Shares of 109,018 Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

2Xideas AG acquired a new stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 109,018 shares of the company's stock, valued at approximately $14,881,000. Neurocrine Biosciences makes up approximately 2.0% of 2Xideas AG's portfolio, making the stock its 12th biggest holding. 2Xideas AG owned about 0.11% of Neurocrine Biosciences as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of NBIX. Golden State Wealth Management LLC purchased a new position in shares of Neurocrine Biosciences in the fourth quarter worth about $25,000. Huntington National Bank increased its holdings in Neurocrine Biosciences by 73.5% in the 4th quarter. Huntington National Bank now owns 229 shares of the company's stock worth $31,000 after buying an additional 97 shares during the period. Brooklyn Investment Group raised its position in Neurocrine Biosciences by 99.1% during the 4th quarter. Brooklyn Investment Group now owns 231 shares of the company's stock worth $32,000 after buying an additional 115 shares during the last quarter. Lindbrook Capital LLC lifted its stake in Neurocrine Biosciences by 53.5% during the 4th quarter. Lindbrook Capital LLC now owns 373 shares of the company's stock valued at $51,000 after acquiring an additional 130 shares during the period. Finally, R Squared Ltd purchased a new stake in shares of Neurocrine Biosciences in the 4th quarter valued at $61,000. 92.59% of the stock is owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

A number of research firms recently issued reports on NBIX. Piper Sandler restated an "overweight" rating and set a $160.00 target price on shares of Neurocrine Biosciences in a research report on Monday, December 23rd. 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. Canaccord Genuity Group dropped their target price on Neurocrine Biosciences from $172.00 to $163.00 and set a "buy" rating on the stock in a report on Friday, February 7th. William Blair reissued an "outperform" rating on shares of Neurocrine Biosciences in a report on Friday, February 7th. Finally, Royal Bank of Canada dropped their price objective on shares of Neurocrine Biosciences from $154.00 to $148.00 and set a "sector perform" rating on the stock in a research note on Friday, February 7th. Five investment 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 stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $163.52.

Neurocrine Biosciences Stock Down 0.1 %

Shares of NASDAQ NBIX traded down $0.08 during midday trading on Friday, hitting $90.64. The stock had a trading volume of 675,565 shares, compared to its average volume of 1,024,609. The stock has a 50 day simple moving average of $112.91 and a 200-day simple moving average of $123.18. The company has a market capitalization of $9.04 billion, a PE ratio of 27.37, a P/E/G ratio of 0.77 and a beta of 0.33. Neurocrine Biosciences, Inc. has a 1 year low of $84.23 and a 1 year high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last announced its 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, analysts expect that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

Neurocrine Biosciences declared that its Board of Directors has approved a stock buyback plan on Friday, February 21st that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 4.2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's leadership believes its stock is undervalued.

Insider Buying and Selling

In related news, insider Julie Cooke sold 1,740 shares of the firm's stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $152.89, for a total transaction of $266,028.60. Following the completion of the sale, the insider now directly owns 18,202 shares in the company, valued at approximately $2,782,903.78. This trade represents a 8.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Matt Abernethy sold 2,558 shares of the firm's stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $116.86, for a total transaction of $298,927.88. Following the sale, the chief financial officer now owns 34,775 shares of the company's stock, valued at $4,063,806.50. This represents a 6.85 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 232,906 shares of company stock worth $33,869,030. 4.30% of the stock is owned by insiders.

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.