ExodusPoint Capital Management LP Makes New Investment in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

ExodusPoint Capital Management LP purchased a new position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 15,844 shares of the company's stock, valued at approximately $2,163,000.

Several other large investors also recently bought and sold shares of the business. Golden State Wealth Management LLC acquired a new position in Neurocrine Biosciences during the fourth quarter worth $25,000. Huntington National Bank grew its stake in shares of Neurocrine Biosciences by 73.5% in 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 increased its holdings in shares of 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 raised its position in shares of 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 buying an additional 130 shares during the period. Finally, R Squared Ltd acquired a new position in shares of Neurocrine Biosciences in the 4th quarter valued at $61,000. Hedge funds and other institutional investors own 92.59% of the company's stock.

Insider Activity

In other news, insider Julie Cooke sold 1,740 shares of the firm's stock in a transaction dated Friday, January 31st. The stock was 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 $2,782,903.78. This trade represents a 8.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ingrid Delaet sold 623 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $149.29, for a total transaction of $93,007.67. Following the sale, the insider now directly owns 3,442 shares of the company's stock, valued at $513,856.18. The trade was a 15.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 232,906 shares of company stock valued at $33,869,030 in the last three months. Corporate insiders own 4.30% of the company's stock.

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Neurocrine Biosciences Stock Up 3.7 %

Shares of NBIX traded up $3.35 on Monday, hitting $94.22. 192,324 shares of the stock traded hands, compared to its average volume of 1,027,830. Neurocrine Biosciences, Inc. has a 1 year low of $84.23 and a 1 year high of $157.98. The stock's 50 day moving average is $111.68 and its two-hundred day moving average is $123.06. The firm has a market capitalization of $9.39 billion, a P/E ratio of 28.64, a P/E/G ratio of 0.77 and a beta of 0.33.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last released its earnings results on Thursday, February 6th. The company reported $1.00 earnings per share (EPS) 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%. Research analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

Neurocrine Biosciences declared that its Board of Directors has initiated a share repurchase program on Friday, February 21st that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to repurchase up to 4.2% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

Analysts Set New Price Targets

A number of research firms recently weighed in on NBIX. Needham & Company LLC reaffirmed a "hold" rating on shares of Neurocrine Biosciences in a research report on Friday, February 7th. HC Wainwright reaffirmed a "buy" rating and set a $185.00 price objective on shares of Neurocrine Biosciences in a research report on Friday, February 21st. Morgan Stanley reaffirmed an "overweight" rating and set a $150.00 price target (down previously from $185.00) on shares of Neurocrine Biosciences in a research report on Friday, March 7th. UBS Group dropped their price objective on shares of Neurocrine Biosciences from $154.00 to $137.00 and set a "buy" rating on the stock in a research note on Friday, April 4th. Finally, Wedbush reduced 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 note on Friday, February 7th. Four investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $163.00.

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.