Hood River Capital Management LLC Increases Holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Hood River Capital Management LLC lifted its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 34.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 355,058 shares of the company's stock after acquiring an additional 91,848 shares during the period. Hood River Capital Management LLC owned 0.35% of Neurocrine Biosciences worth $48,465,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Caprock Group LLC acquired a new position in shares of Neurocrine Biosciences in the 4th quarter valued at $236,000. Charles Schwab Investment Management Inc. boosted its stake in Neurocrine Biosciences by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 762,557 shares of the company's stock valued at $104,089,000 after acquiring an additional 15,266 shares in the last quarter. Tri Ri Asset Management Corp acquired a new stake in shares of Neurocrine Biosciences during the third quarter worth about $3,236,000. Oakworth Capital Inc. purchased a new position in Neurocrine Biosciences during the 4th quarter worth approximately $379,000. Finally, Avantax Advisory Services Inc. increased its position in Neurocrine Biosciences by 11.4% during the fourth quarter. Avantax Advisory Services Inc. now owns 2,895 shares of the company's stock worth $395,000 after buying an additional 297 shares during the period. 92.59% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Neurocrine Biosciences

In related news, CEO Kyle Gano sold 1,541 shares of the stock in a transaction on Friday, January 31st. The stock was sold at an average price of $152.87, for a total value of $235,572.67. Following the transaction, the chief executive officer now directly owns 136,778 shares of the company's stock, valued at approximately $20,909,252.86. This trade represents a 1.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Kevin Charles Gorman sold 146,105 shares of the stock in a transaction that occurred on 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 sale, the director now directly owns 514,596 shares of the company's stock, valued at approximately $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 three months, insiders sold 167,906 shares of company stock worth $24,671,530. Insiders own 4.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. William Blair reaffirmed an "outperform" rating on shares of Neurocrine Biosciences in a report on Friday, February 7th. Morgan Stanley reiterated an "overweight" rating and set a $150.00 target price (down previously from $185.00) on shares of Neurocrine Biosciences in a research note on Friday, March 7th. UBS Group dropped their price target on Neurocrine Biosciences from $154.00 to $137.00 and set a "buy" rating on the stock in a research report on Friday, April 4th. JPMorgan Chase & Co. increased their price objective on Neurocrine Biosciences from $183.00 to $184.00 and gave the stock an "overweight" rating in a research report on Wednesday, March 26th. Finally, HC Wainwright dropped their target price on Neurocrine Biosciences from $185.00 to $168.00 and set a "buy" rating on the stock in a report on Tuesday. Three investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Neurocrine Biosciences has an average rating of "Moderate Buy" and an average price target of $161.09.

Neurocrine Biosciences Stock Performance

NBIX stock opened at $101.74 on Wednesday. The stock's 50 day moving average price is $107.72 and its 200 day moving average price is $122.29. The firm has a market cap of $10.07 billion, a P/E ratio of 30.92, a PEG ratio of 0.77 and a beta of 0.33. Neurocrine Biosciences, Inc. has a 1 year low of $84.23 and a 1 year high of $157.98.

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%. On average, research analysts predict that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.

Neurocrine Biosciences announced that its Board of Directors has authorized a stock repurchase plan on Friday, February 21st that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to purchase up to 4.2% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's board of directors believes its shares are undervalued.

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.

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