LPL Financial LLC Increases Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

LPL Financial LLC boosted its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 27.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,754 shares of the company's stock after purchasing an additional 3,643 shares during the period. LPL Financial LLC's holdings in Neurocrine Biosciences were worth $2,287,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quantinno Capital Management LP increased its holdings in Neurocrine Biosciences by 25.0% during the 3rd quarter. Quantinno Capital Management LP now owns 2,239 shares of the company's stock valued at $258,000 after purchasing an additional 448 shares during the period. National Bank of Canada FI increased its stake in shares of Neurocrine Biosciences by 83.3% during the third quarter. National Bank of Canada FI now owns 1,351 shares of the company's stock valued at $156,000 after buying an additional 614 shares during the period. Geode Capital Management LLC raised its holdings in shares of Neurocrine Biosciences by 2.2% during the third quarter. Geode Capital Management LLC now owns 1,859,232 shares of the company's stock valued at $213,773,000 after acquiring an additional 39,610 shares in the last quarter. Toronto Dominion Bank lifted its stake in Neurocrine Biosciences by 32.8% in the third quarter. Toronto Dominion Bank now owns 12,684 shares of the company's stock worth $1,461,000 after acquiring an additional 3,131 shares during the period. Finally, Virtu Financial LLC bought a new stake in Neurocrine Biosciences in the third quarter valued at $1,985,000. Institutional investors own 92.59% of the company's stock.

Neurocrine Biosciences Price Performance

NASDAQ NBIX traded up $1.28 during mid-day trading on Friday, reaching $101.38. The stock had a trading volume of 1,926,795 shares, compared to its average volume of 1,055,153. The stock has a market cap of $10.03 billion, a PE ratio of 30.81, a price-to-earnings-growth 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. The company has a fifty day moving average price of $108.35 and a 200 day moving average price of $122.45.

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

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

Wall Street Analyst Weigh In

Several brokerages have commented on NBIX. Morgan Stanley restated an "overweight" rating and issued a $150.00 price objective (down from $185.00) on shares of Neurocrine Biosciences in a report on Friday, March 7th. Barclays increased their price target on shares of Neurocrine Biosciences from $160.00 to $165.00 and gave the stock an "overweight" rating in a research note on Monday, December 23rd. Deutsche Bank Aktiengesellschaft began coverage on Neurocrine Biosciences in a research report on Tuesday, February 11th. They set a "hold" rating and a $138.00 price objective on the stock. Bank of America decreased their target price on Neurocrine Biosciences from $184.00 to $179.00 and set a "buy" rating for the company in a research report on Friday, February 7th. Finally, HC Wainwright restated a "buy" rating and set a $185.00 price target on shares of Neurocrine Biosciences in a research report on Friday, February 21st. Three research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $161.86.

Insider Buying and Selling at Neurocrine Biosciences

In other news, Director Kevin Charles Gorman sold 2,707 shares of the business's stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $152.92, for a total transaction of $413,954.44. Following the completion of the transaction, the director now directly owns 517,030 shares of the company's stock, valued at $79,064,227.60. The trade was a 0.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Kyle Gano sold 1,541 shares of the firm's stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $152.87, for a total transaction of $235,572.67. Following the completion of the sale, the chief executive officer now owns 136,778 shares in the company, valued at $20,909,252.86. This represents a 1.11 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 167,906 shares of company stock worth $24,671,530. Company insiders own 4.30% of the company's stock.

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.