Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Shares Bought by Edgestream Partners L.P.

Edgestream Partners L.P. raised its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 138.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,574 shares of the company's stock after acquiring an additional 7,308 shares during the period. Edgestream Partners L.P.'s holdings in Neurocrine Biosciences were worth $1,716,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of NBIX. State Street Corp boosted its stake in Neurocrine Biosciences by 11.7% during the 3rd quarter. State Street Corp now owns 5,148,293 shares of the company's stock valued at $593,186,000 after purchasing an additional 539,936 shares during the last quarter. Geode Capital Management LLC increased its holdings in Neurocrine Biosciences by 2.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,859,232 shares of the company's stock worth $213,773,000 after buying an additional 39,610 shares in the last quarter. Braidwell LP lifted its stake in Neurocrine Biosciences by 20.9% during the 3rd quarter. Braidwell LP now owns 917,674 shares of the company's stock valued at $105,734,000 after acquiring an additional 158,665 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Neurocrine Biosciences by 1.4% during the 4th quarter. Bank of New York Mellon Corp now owns 870,290 shares of the company's stock valued at $118,795,000 after acquiring an additional 12,040 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Neurocrine Biosciences during the 4th quarter valued at about $115,193,000. 92.59% of the stock is currently owned by institutional investors.

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Insiders Place Their Bets

In other Neurocrine Biosciences news, insider Julie Cooke sold 1,551 shares of the firm's stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $116.78, for a total value of $181,125.78. Following the sale, the insider now directly owns 19,544 shares of the company's stock, valued at approximately $2,282,348.32. This trade represents a 7.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kevin Charles Gorman sold 146,105 shares of the stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $149.46, for a total value of $21,836,853.30. Following the transaction, the director now owns 514,596 shares in the company, valued at $76,911,518.16. This trade represents a 22.11 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 234,269 shares of company stock worth $34,053,879. Corporate insiders own 4.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on NBIX shares. Barclays increased their price objective on shares of Neurocrine Biosciences from $160.00 to $165.00 and gave the company an "overweight" rating in a research report on Monday, December 23rd. William Blair reiterated an "outperform" rating on shares of Neurocrine Biosciences in a research note on Friday, February 7th. Wedbush cut their target price on shares of Neurocrine Biosciences from $157.00 to $147.00 and set an "outperform" rating for the company in a research report on Friday, February 7th. Deutsche Bank Aktiengesellschaft started coverage on shares of Neurocrine Biosciences in a report on Tuesday, February 11th. They set a "hold" rating and a $138.00 target price for the company. Finally, StockNews.com raised shares of Neurocrine Biosciences from a "buy" rating to a "strong-buy" rating in a research report on Wednesday. Five research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $165.24.

Neurocrine Biosciences Price Performance

NASDAQ:NBIX traded up $1.76 during midday trading on Friday, hitting $110.75. The company's stock had a trading volume of 1,070,142 shares, compared to its average volume of 1,343,585. Neurocrine Biosciences, Inc. has a fifty-two week low of $105.18 and a fifty-two week high of $157.98. The firm's 50 day moving average is $130.23 and its 200-day moving average is $126.17. The firm has a market cap of $11.04 billion, a P/E ratio of 33.66, a P/E/G ratio of 0.77 and a beta of 0.35.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last issued its 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%. As a group, analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

Neurocrine Biosciences announced that its board has approved a share repurchase 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 shares through open market purchases. Shares buyback programs are usually a sign that the company's leadership believes its shares are undervalued.

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.