Natixis Advisors LLC Increases Holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Natixis Advisors LLC increased its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 14.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,604 shares of the company's stock after buying an additional 4,277 shares during the quarter. Natixis Advisors LLC's holdings in Neurocrine Biosciences were worth $4,587,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Caprock Group LLC bought a new stake in shares of Neurocrine Biosciences in the 4th quarter worth $236,000. Charles Schwab Investment Management Inc. increased its stake in Neurocrine Biosciences by 2.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 762,557 shares of the company's stock valued at $104,089,000 after buying an additional 15,266 shares during the last quarter. Tri Ri Asset Management Corp bought a new position in shares of Neurocrine Biosciences during the 3rd quarter worth approximately $3,236,000. Oakworth Capital Inc. purchased a new position in shares of Neurocrine Biosciences in the 4th quarter worth approximately $379,000. Finally, Synergy Asset Management LLC bought a new position in shares of Neurocrine Biosciences in the fourth quarter valued at approximately $996,000. 92.59% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Ingrid Delaet sold 272 shares of the stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $138.10, for a total transaction of $37,563.20. Following the transaction, the insider now owns 2,507 shares of the company's stock, valued at approximately $346,216.70. This trade represents a 9.79 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Kyle Gano sold 65,000 shares of the business's stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $141.50, for a total transaction of $9,197,500.00. Following the completion of the sale, the chief executive officer now directly owns 135,392 shares of the company's stock, valued at $19,157,968. This represents a 32.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 233,178 shares of company stock valued at $33,906,594 over the last quarter. 4.30% of the stock is owned by corporate insiders.

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Neurocrine Biosciences Price Performance

Shares of NASDAQ:NBIX traded down $1.73 on Wednesday, hitting $114.45. The company's stock had a trading volume of 974,805 shares, compared to its average volume of 961,379. Neurocrine Biosciences, Inc. has a 1 year low of $105.18 and a 1 year high of $157.98. The company has a market capitalization of $11.41 billion, a PE ratio of 34.79, a PEG ratio of 0.77 and a beta of 0.35. The company has a 50-day simple moving average of $125.89 and a 200 day simple moving average of $125.10.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last posted its quarterly earnings data 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 return on equity of 13.38% and a net margin of 14.49%. On average, equities research analysts expect that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

Neurocrine Biosciences declared that its Board of Directors has approved 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 an indication that the company's leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. William Blair reissued an "outperform" rating on shares of Neurocrine Biosciences in a research report on Friday, February 7th. Deutsche Bank Aktiengesellschaft began coverage on shares of Neurocrine Biosciences in a research report on Tuesday, February 11th. They set a "hold" rating and a $138.00 price target for the company. Morgan Stanley reaffirmed an "overweight" rating and issued a $150.00 price objective (down previously from $185.00) on shares of Neurocrine Biosciences in a research report on Friday, March 7th. Royal Bank of Canada decreased their price target on shares of Neurocrine Biosciences from $154.00 to $148.00 and set a "sector perform" rating for the company in a research note on Friday, February 7th. Finally, Piper Sandler reiterated an "overweight" rating and issued a $160.00 price objective on shares of Neurocrine Biosciences in a research note on Monday, December 23rd. Five equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Neurocrine Biosciences presently has a consensus rating of "Moderate Buy" and an average price target of $165.38.

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.