Invesco Ltd. Has $129.61 Million Stock Holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Invesco Ltd. lifted its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 8.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 949,512 shares of the company's stock after acquiring an additional 74,847 shares during the quarter. Invesco Ltd. owned about 0.94% of Neurocrine Biosciences worth $129,608,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Raymond James Financial Inc. bought a new stake in Neurocrine Biosciences during the fourth quarter worth approximately $115,193,000. Wellington Management Group LLP raised its holdings in Neurocrine Biosciences by 102.9% in the 4th quarter. Wellington Management Group LLP now owns 1,457,425 shares of the company's stock worth $198,939,000 after acquiring an additional 739,199 shares during the period. Thrivent Financial for Lutherans boosted its holdings in Neurocrine Biosciences by 2,759.4% during the fourth quarter. Thrivent Financial for Lutherans now owns 737,772 shares of the company's stock valued at $100,705,000 after acquiring an additional 711,970 shares during the period. Jennison Associates LLC boosted its stake in Neurocrine Biosciences by 145.1% during the 4th quarter. Jennison Associates LLC now owns 820,694 shares of the company's stock valued at $112,025,000 after purchasing an additional 485,894 shares during the period. Finally, Norges Bank bought a new stake in shares of Neurocrine Biosciences in the fourth quarter valued at approximately $44,403,000. Institutional investors and hedge funds own 92.59% of the company's stock.

Neurocrine Biosciences Trading Up 1.3 %

Shares of NBIX stock traded up $1.27 on Tuesday, reaching $96.16. The company had a trading volume of 1,767,586 shares, compared to its average volume of 1,037,383. The stock has a market cap of $9.59 billion, a PE ratio of 29.23, a PEG ratio of 0.77 and a beta of 0.33. The company has a 50-day moving average of $109.46 and a 200-day moving average of $122.74. Neurocrine Biosciences, Inc. has a 12 month low of $84.23 and a 12 month high of $157.98.

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Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last announced its quarterly earnings results 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%. Sell-side analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.

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

Insider Buying and Selling

In other news, insider Ingrid Delaet sold 623 shares of the business's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $149.29, for a total value of $93,007.67. Following the sale, the insider now directly owns 3,442 shares in the company, valued at $513,856.18. The trade was a 15.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Kevin Charles Gorman sold 5,844 shares of the stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $116.69, for a total value of $681,936.36. Following the transaction, the director now owns 521,618 shares of the company's stock, valued at approximately $60,867,604.42. The trade was a 1.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 232,906 shares of company stock worth $33,869,030 over the last ninety days. Company insiders own 4.30% of the company's stock.

Wall Street Analyst Weigh In

NBIX has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft began coverage on shares of Neurocrine Biosciences in a research note on Tuesday, February 11th. They set a "hold" rating and a $138.00 target price for the company. Bank of America lowered their price objective on Neurocrine Biosciences from $184.00 to $179.00 and set a "buy" rating on the stock in a research report on Friday, February 7th. Guggenheim lowered their target price on shares of Neurocrine Biosciences from $165.00 to $163.00 and set a "buy" rating on the stock in a research note on Monday, February 10th. JPMorgan Chase & Co. lifted their price objective on Neurocrine Biosciences from $183.00 to $184.00 and gave the company an "overweight" rating in a report on Wednesday, March 26th. Finally, Royal Bank of Canada raised Neurocrine Biosciences from a "sector perform" rating to an "outperform" rating and decreased their price target for the company from $138.00 to $137.00 in a research note on Monday. Three equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $161.86.

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.