Eagle Health Investments LP Has $21.16 Million Stock Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Eagle Health Investments LP lifted its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 20.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 155,000 shares of the company's stock after buying an additional 26,400 shares during the period. Neurocrine Biosciences comprises approximately 5.2% of Eagle Health Investments LP's holdings, making the stock its 10th largest holding. Eagle Health Investments LP owned approximately 0.15% of Neurocrine Biosciences worth $21,158,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of NBIX. Commerce Bank raised its stake in shares of 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 acquiring an additional 108 shares during the last quarter. Cerity Partners LLC raised its position in Neurocrine Biosciences by 42.4% in the 3rd quarter. Cerity Partners LLC now owns 39,024 shares of the company's stock valued at $4,496,000 after purchasing an additional 11,622 shares during the last quarter. Algert Global LLC acquired a new position in Neurocrine Biosciences in the third quarter worth $2,116,000. Daiwa Securities Group Inc. grew its holdings in shares of Neurocrine Biosciences by 34.1% during the third quarter. Daiwa Securities Group Inc. now owns 11,798 shares of the company's stock worth $1,360,000 after purchasing an additional 2,997 shares during the last quarter. Finally, Fisher Asset Management LLC increased its stake in shares of Neurocrine Biosciences by 7.8% in the third quarter. Fisher Asset Management LLC now owns 68,270 shares of the company's stock valued at $7,866,000 after buying an additional 4,930 shares in the last quarter. Institutional investors own 92.59% of the company's stock.

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Analyst Upgrades and Downgrades

Several research analysts recently issued reports on NBIX shares. Needham & Company LLC reiterated a "hold" rating on shares of Neurocrine Biosciences in a research report on Friday, February 7th. JPMorgan Chase & Co. upped their target price on shares of Neurocrine Biosciences from $183.00 to $184.00 and gave the stock an "overweight" rating in a research report on Wednesday, March 26th. Bank of America lowered their price target on shares of Neurocrine Biosciences from $184.00 to $179.00 and set a "buy" rating for the company in a report on Friday, February 7th. Piper Sandler reaffirmed an "overweight" rating and set a $160.00 price objective on shares of Neurocrine Biosciences in a report on Monday, December 23rd. Finally, HC Wainwright reiterated a "buy" rating and issued a $185.00 price objective on shares of Neurocrine Biosciences in a research report on Friday, February 21st. Five research 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. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $165.38.

Insider Transactions at Neurocrine Biosciences

In other Neurocrine Biosciences news, insider Ingrid Delaet sold 272 shares of the business's stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $138.10, for a total transaction of $37,563.20. Following the transaction, the insider now owns 2,507 shares of the company's stock, valued at $346,216.70. The trade was a 9.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Julie Cooke sold 700 shares of the firm's stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $118.28, for a total value of $82,796.00. Following the completion of the sale, the insider now directly owns 18,831 shares of the company's stock, valued at approximately $2,227,330.68. The trade was a 3.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 233,178 shares of company stock worth $33,906,594 in the last ninety days. Insiders own 4.30% of the company's stock.

Neurocrine Biosciences Stock Performance

NBIX stock traded down $2.28 during mid-day trading on Monday, hitting $110.88. 310,317 shares of the company were exchanged, compared to its average volume of 979,365. The firm's 50 day simple moving average is $124.17 and its 200 day simple moving average is $124.96. Neurocrine Biosciences, Inc. has a 1-year low of $105.18 and a 1-year high of $157.98. The firm has a market cap of $11.06 billion, a P/E ratio of 33.73, a P/E/G ratio of 0.77 and a beta of 0.35.

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

Neurocrine Biosciences declared that its board has approved a stock buyback plan on Friday, February 21st that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 4.2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's board of directors believes its shares are undervalued.

About Neurocrine Biosciences

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.