Mariner LLC Has $2.82 Million Stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Mariner LLC grew its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 23.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,639 shares of the company's stock after purchasing an additional 3,857 shares during the quarter. Mariner LLC's holdings in Neurocrine Biosciences were worth $2,817,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Golden State Wealth Management LLC bought a new position in Neurocrine Biosciences in the 4th quarter worth approximately $25,000. Huntington National Bank grew its position in Neurocrine Biosciences by 73.5% during the fourth quarter. Huntington National Bank now owns 229 shares of the company's stock worth $31,000 after buying an additional 97 shares in the last quarter. Brooklyn Investment Group raised its holdings in Neurocrine Biosciences by 99.1% in the 4th quarter. Brooklyn Investment Group now owns 231 shares of the company's stock valued at $32,000 after acquiring an additional 115 shares in the last quarter. Lindbrook Capital LLC lifted its position in shares of Neurocrine Biosciences by 53.5% in the 4th quarter. Lindbrook Capital LLC now owns 373 shares of the company's stock worth $51,000 after acquiring an additional 130 shares during the period. Finally, R Squared Ltd acquired a new stake in shares of Neurocrine Biosciences during the 4th quarter worth approximately $61,000. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently commented on NBIX shares. Canaccord Genuity Group reduced their price objective on shares of Neurocrine Biosciences from $172.00 to $163.00 and set a "buy" rating for the company in a report on Friday, February 7th. Morgan Stanley reissued an "overweight" rating and issued a $150.00 target price (down from $185.00) on shares of Neurocrine Biosciences in a report on Friday, March 7th. HC Wainwright decreased their price target on Neurocrine Biosciences from $185.00 to $168.00 and set a "buy" rating on the stock in a research note on Tuesday. William Blair reiterated an "outperform" rating on shares of Neurocrine Biosciences in a research note on Friday, February 7th. Finally, UBS Group reduced their target price 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. Three analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Neurocrine Biosciences presently has a consensus rating of "Moderate Buy" and a consensus target price of $161.09.

Neurocrine Biosciences Price Performance

NBIX opened at $101.74 on Wednesday. The firm has a 50 day simple moving average of $107.72 and a 200 day simple moving average of $122.29. Neurocrine Biosciences, Inc. has a fifty-two week low of $84.23 and a fifty-two week high of $157.98. The company has a market cap of $10.07 billion, a price-to-earnings ratio of 30.92, a price-to-earnings-growth ratio of 0.77 and a beta of 0.33.

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 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%. As a group, analysts expect that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

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

Insider Buying and Selling at Neurocrine Biosciences

In other news, CEO Kyle Gano sold 1,541 shares of Neurocrine Biosciences stock in a transaction on Friday, January 31st. The shares were sold at an average price of $152.87, for a total transaction of $235,572.67. Following the transaction, the chief executive officer now directly owns 136,778 shares of the company's stock, valued at $20,909,252.86. This trade represents a 1.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kevin Charles Gorman sold 2,707 shares of the company's stock in a transaction 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 sale, the director now owns 517,030 shares of the company's stock, valued at approximately $79,064,227.60. This represents a 0.52 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 167,906 shares of company stock valued at $24,671,530. 4.30% of the stock is currently owned by company insiders.

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.

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