Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Shares Purchased by Bridgewater Associates LP

Bridgewater Associates LP boosted its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 146.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 332,598 shares of the company's stock after buying an additional 197,412 shares during the quarter. Bridgewater Associates LP owned 0.33% of Neurocrine Biosciences worth $45,400,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

Several research firms have recently commented on NBIX. HC Wainwright reissued a "buy" rating and issued a $185.00 price objective on shares of Neurocrine Biosciences in a research note on Friday, February 21st. Royal Bank of Canada raised Neurocrine Biosciences from a "sector perform" rating to an "outperform" rating and reduced their price target for the company from $138.00 to $137.00 in a research report on Monday. StockNews.com downgraded Neurocrine Biosciences from a "strong-buy" rating to a "buy" rating in a research report on Thursday, March 20th. William Blair reaffirmed an "outperform" rating on shares of Neurocrine Biosciences in a report on Friday, February 7th. Finally, Canaccord Genuity Group decreased their price target on shares of Neurocrine Biosciences from $172.00 to $163.00 and set a "buy" rating for the company in a research note on Friday, February 7th. Three research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $161.86.

Insider Transactions at Neurocrine Biosciences

In related news, Director Kevin Charles Gorman sold 146,105 shares of the company's stock in a transaction on Monday, January 27th. The stock was sold at an average price of $149.46, for a total transaction of $21,836,853.30. Following the transaction, the director now owns 514,596 shares of the company's stock, valued at $76,911,518.16. This represents a 22.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Matt Abernethy sold 1,283 shares of the business's stock in a transaction on Friday, January 31st. The stock was sold at an average price of $152.87, for a total transaction of $196,132.21. Following the sale, the chief financial officer now owns 32,681 shares in the company, valued at $4,995,944.47. The trade was a 3.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 167,906 shares of company stock worth $24,671,530 over the last ninety days. 4.30% of the stock is currently owned by company insiders.

Neurocrine Biosciences Stock Performance

NASDAQ NBIX traded up $1.28 during trading on Friday, reaching $101.38. The company's stock had a trading volume of 1,926,795 shares, compared to its average volume of 1,051,299. The business's fifty day moving average price is $108.66 and its 200-day moving average price is $122.48. The firm has a market cap of $10.03 billion, a price-to-earnings ratio of 30.81, a P/E/G ratio of 0.77 and a beta of 0.33. Neurocrine Biosciences, Inc. has a twelve month low of $84.23 and a twelve month high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The company reported $1.00 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%. As a group, sell-side analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

Neurocrine Biosciences declared that its board has authorized a stock repurchase plan on Friday, February 21st that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to purchase up to 4.2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its stock is undervalued.

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.