MetLife Investment Management LLC Purchases 4,735 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

MetLife Investment Management LLC boosted its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 8.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 61,442 shares of the company's stock after purchasing an additional 4,735 shares during the quarter. MetLife Investment Management LLC owned about 0.06% of Neurocrine Biosciences worth $8,387,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of NBIX. Vanguard Group Inc. lifted its stake in Neurocrine Biosciences by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 10,119,641 shares of the company's stock worth $1,381,331,000 after purchasing an additional 122,681 shares during the last quarter. Dodge & Cox boosted its position in Neurocrine Biosciences by 134.2% during the 4th quarter. Dodge & Cox now owns 3,016,425 shares of the company's stock worth $411,742,000 after buying an additional 1,728,605 shares during the period. Geode Capital Management LLC grew its stake in shares of Neurocrine Biosciences by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 1,875,062 shares of the company's stock worth $255,523,000 after purchasing an additional 15,830 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Neurocrine Biosciences by 102.9% in the fourth quarter. Wellington Management Group LLP now owns 1,457,425 shares of the company's stock valued at $198,939,000 after buying an additional 739,199 shares during the period. Finally, Invesco Ltd. increased its position in Neurocrine Biosciences by 8.6% during the 4th quarter. Invesco Ltd. now owns 949,512 shares of the company's stock valued at $129,608,000 after purchasing an additional 74,847 shares during the period. Institutional investors and hedge funds own 92.59% of the company's stock.

Insider Activity

In other Neurocrine Biosciences news, CEO Kyle Gano sold 1,541 shares of the company's stock in a transaction on Friday, January 31st. The shares were sold at an average price of $152.87, for a total value of $235,572.67. Following the completion of the transaction, the chief executive officer now directly owns 136,778 shares in the company, valued at approximately $20,909,252.86. This represents a 1.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kevin Charles Gorman sold 146,105 shares of Neurocrine Biosciences stock in a transaction dated Monday, January 27th. The shares were 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 in the company, valued at $76,911,518.16. The trade was a 22.11 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 167,906 shares of company stock valued at $24,671,530. Insiders own 4.30% of the company's stock.

Analyst Upgrades and Downgrades

NBIX has been the topic of a number of research reports. Royal Bank of Canada upgraded shares of Neurocrine Biosciences from a "sector perform" rating to an "outperform" rating and dropped their target price for the company from $138.00 to $137.00 in a research report on Monday, April 14th. UBS Group reduced their target price on shares of Neurocrine Biosciences from $154.00 to $137.00 and set a "buy" rating for the company in a research note on Friday, April 4th. Wedbush decreased their price target on Neurocrine Biosciences from $157.00 to $147.00 and set an "outperform" rating for the company in a research report on Friday, February 7th. Bank of America dropped their price objective on Neurocrine Biosciences from $184.00 to $179.00 and set a "buy" rating on the stock in a research note on Friday, February 7th. Finally, StockNews.com cut Neurocrine Biosciences from a "strong-buy" rating to a "buy" rating in a research note on Thursday, March 20th. Three investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $161.14.

Neurocrine Biosciences Trading Up 0.9 %

Shares of NASDAQ:NBIX traded up $0.97 on Friday, reaching $106.73. 1,328,294 shares of the company traded hands, compared to its average volume of 1,065,564. Neurocrine Biosciences, Inc. has a 52 week low of $84.23 and a 52 week high of $157.98. The business's 50-day simple moving average is $107.30 and its 200 day simple moving average is $122.12. The stock has a market capitalization of $10.56 billion, a P/E ratio of 32.44, a price-to-earnings-growth ratio of 0.77 and a beta of 0.33.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last announced its quarterly earnings data 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 net margin of 14.49% and a return on equity of 13.38%. Sell-side analysts expect that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

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

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.