First Financial Bankshares Inc Purchases 9,208 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

First Financial Bankshares Inc grew its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 51.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 26,942 shares of the company's stock after purchasing an additional 9,208 shares during the quarter. First Financial Bankshares Inc's holdings in Neurocrine Biosciences were worth $3,678,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. Golden State Wealth Management LLC bought a new position in shares of Neurocrine Biosciences during the fourth quarter valued at approximately $25,000. Brooklyn Investment Group grew its stake 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 increased its position in Neurocrine Biosciences by 53.5% in the fourth quarter. Lindbrook Capital LLC now owns 373 shares of the company's stock worth $51,000 after buying an additional 130 shares during the period. R Squared Ltd acquired a new stake in Neurocrine Biosciences in the fourth quarter worth $61,000. Finally, UMB Bank n.a. lifted its stake in Neurocrine Biosciences by 211.6% in the fourth quarter. UMB Bank n.a. now owns 455 shares of the company's stock valued at $62,000 after buying an additional 309 shares during the last quarter. Institutional investors and hedge funds own 92.59% of the company's stock.

Neurocrine Biosciences Stock Up 1.7 %

Neurocrine Biosciences stock traded up $1.85 during midday trading on Friday, hitting $111.92. The company's stock had a trading volume of 2,315,014 shares, compared to its average volume of 957,981. The stock's 50-day moving average price is $126.90 and its 200-day moving average price is $125.17. Neurocrine Biosciences, Inc. has a 12 month low of $105.18 and a 12 month high of $157.98. The company has a market capitalization of $11.16 billion, a PE ratio of 34.02, a price-to-earnings-growth ratio of 0.77 and a beta of 0.35.

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Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last posted its quarterly earnings data 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, equities analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

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

Insiders Place Their Bets

In other Neurocrine Biosciences news, Director Kevin Charles Gorman sold 146,105 shares of Neurocrine Biosciences stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $149.46, for a total transaction of $21,836,853.30. Following the transaction, the director now owns 514,596 shares of the company's stock, valued at $76,911,518.16. The trade was a 22.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Ingrid Delaet sold 272 shares of Neurocrine Biosciences stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $138.10, for a total value of $37,563.20. Following the transaction, the insider now directly owns 2,507 shares in the company, valued at approximately $346,216.70. This trade represents a 9.79 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 233,178 shares of company stock worth $33,906,594. Company insiders own 4.30% of the company's stock.

Analyst Upgrades and Downgrades

NBIX has been the subject of several analyst reports. Morgan Stanley reissued an "overweight" rating and set a $150.00 price target (down previously from $185.00) on shares of Neurocrine Biosciences in a report on Friday, March 7th. Piper Sandler reissued an "overweight" rating and set a $160.00 price target on shares of Neurocrine Biosciences in a report on Monday, December 23rd. Bank of America reduced 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. StockNews.com downgraded shares of Neurocrine Biosciences from a "strong-buy" rating to a "buy" rating in a report on Thursday. Finally, Barclays upped their price objective on shares of Neurocrine Biosciences from $160.00 to $165.00 and gave the stock an "overweight" rating in a report on Monday, December 23rd. Five equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Neurocrine Biosciences presently has an average rating of "Moderate Buy" and a consensus price target of $165.24.

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.