Belpointe Asset Management LLC Makes New $1.13 Million Investment in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Belpointe Asset Management LLC bought a new position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 8,852 shares of the company's stock, valued at approximately $1,125,000.

Other large investors also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC bought a new position in shares of Neurocrine Biosciences in the fourth quarter worth approximately $25,000. Huntington National Bank boosted its position in Neurocrine Biosciences by 73.5% during the 4th quarter. Huntington National Bank now owns 229 shares of the company's stock valued at $31,000 after buying an additional 97 shares during the period. Brooklyn Investment Group grew its holdings 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 acquiring an additional 115 shares during the last quarter. Lindbrook Capital LLC increased its position in shares of Neurocrine Biosciences by 53.5% in the fourth 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 bought a new position in shares of Neurocrine Biosciences during the fourth quarter valued at about $61,000. Hedge funds and other institutional investors own 92.59% of the company's stock.

Neurocrine Biosciences Stock Performance

Shares of NASDAQ:NBIX traded up $1.28 during midday trading on Friday, reaching $101.38. 1,926,795 shares of the company's stock traded hands, compared to its average volume of 1,051,299. Neurocrine Biosciences, Inc. has a one year low of $84.23 and a one year high of $157.98. The stock has a 50 day moving average of $108.66 and a 200 day moving average of $122.48. The company has a market cap of $10.03 billion, a price-to-earnings ratio of 30.81, a P/E/G ratio of 0.77 and a beta of 0.33.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The company reported $1.00 EPS for the quarter, missing analysts' consensus estimates of $1.62 by ($0.62). Neurocrine Biosciences had a return on equity of 13.38% and a net margin of 14.49%. Sell-side analysts predict that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

Neurocrine Biosciences announced that its Board of Directors has approved a share repurchase program on Friday, February 21st that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to buy up to 4.2% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's leadership believes its stock is undervalued.

Insider Buying and Selling at Neurocrine Biosciences

In other Neurocrine Biosciences news, insider Julie Cooke sold 1,740 shares of the stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $152.89, for a total value of $266,028.60. Following the transaction, 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kevin Charles Gorman sold 146,105 shares of the business's stock in a transaction on Monday, January 27th. The shares were sold at an average price of $149.46, for a total transaction of $21,836,853.30. Following the sale, the director now directly owns 514,596 shares of the company's stock, valued at approximately $76,911,518.16. The trade was a 22.11 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 167,906 shares of company stock worth $24,671,530. Insiders own 4.30% of the company's stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. William Blair reissued an "outperform" rating on shares of Neurocrine Biosciences in a research note on Friday, February 7th. Canaccord Genuity Group reduced their target price on Neurocrine Biosciences from $172.00 to $163.00 and set a "buy" rating on the stock in a research note on Friday, February 7th. Piper Sandler reaffirmed an "overweight" rating and issued a $160.00 price target on shares of Neurocrine Biosciences in a research note on Monday, December 23rd. Wedbush reduced their price objective on shares of Neurocrine Biosciences from $157.00 to $147.00 and set an "outperform" rating on the stock in a research report on Friday, February 7th. Finally, StockNews.com cut shares of Neurocrine Biosciences from a "strong-buy" rating to a "buy" rating in a research report on Thursday, March 20th. Three research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $161.86.

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.