Charles Schwab Investment Management Inc. Purchases 15,266 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Charles Schwab Investment Management Inc. grew its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 2.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 762,557 shares of the company's stock after purchasing an additional 15,266 shares during the period. Charles Schwab Investment Management Inc. owned about 0.75% of Neurocrine Biosciences worth $104,089,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in NBIX. Louisiana State Employees Retirement System grew its position in Neurocrine Biosciences by 0.4% during the fourth quarter. Louisiana State Employees Retirement System now owns 28,100 shares of the company's stock worth $3,836,000 after buying an additional 100 shares in the last quarter. Metis Global Partners LLC lifted its position in shares of Neurocrine Biosciences by 4.3% during the 4th quarter. Metis Global Partners LLC now owns 2,548 shares of the company's stock valued at $348,000 after acquiring an additional 104 shares during the period. Commerce Bank grew its holdings in shares of Neurocrine Biosciences by 2.6% during the 3rd quarter. Commerce Bank now owns 4,199 shares of the company's stock worth $484,000 after purchasing an additional 108 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. increased its position in shares of Neurocrine Biosciences by 2.7% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,302 shares of the company's stock worth $496,000 after purchasing an additional 113 shares during the period. Finally, Brooklyn Investment Group raised its stake in 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 purchasing an additional 115 shares in the last quarter. 92.59% of the stock is owned by institutional investors.

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Neurocrine Biosciences Stock Down 0.0 %

NBIX traded down $0.00 during midday trading on Thursday, hitting $109.07. The company had a trading volume of 748,719 shares, compared to its average volume of 1,343,301. The stock's 50 day moving average price is $130.81 and its 200 day moving average price is $126.29. Neurocrine Biosciences, Inc. has a 52 week low of $105.18 and a 52 week high of $157.98. The company has a market capitalization of $10.87 billion, a price-to-earnings ratio of 33.15, a PEG ratio of 0.77 and a beta of 0.35.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last issued its earnings results on Thursday, February 6th. The company reported $1.00 EPS 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%. Research analysts predict that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

Neurocrine Biosciences announced that its Board of Directors has approved a stock buyback plan on Friday, February 21st that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to buy up to 4.2% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's board of directors believes its stock is undervalued.

Insider Transactions at Neurocrine Biosciences

In related news, Director Kevin Charles Gorman sold 5,844 shares of the company's stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $116.69, for a total value of $681,936.36. Following the sale, the director now owns 521,618 shares in the company, valued at $60,867,604.42. This represents a 1.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Kyle Gano sold 65,000 shares of Neurocrine Biosciences stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $141.50, for a total value of $9,197,500.00. Following the transaction, the chief executive officer now owns 135,392 shares of the company's stock, valued at $19,157,968. This trade represents a 32.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 234,269 shares of company stock valued at $34,053,879 over the last ninety days. 4.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Bank of America decreased their target price on shares of Neurocrine Biosciences from $184.00 to $179.00 and set a "buy" rating on the stock in a report on Friday, February 7th. Piper Sandler reissued an "overweight" rating and issued a $160.00 price objective on shares of Neurocrine Biosciences in a research note on Monday, December 23rd. Morgan Stanley restated an "overweight" rating and set a $150.00 target price (down from $185.00) on shares of Neurocrine Biosciences in a research note on Friday, March 7th. Barclays raised their target price on Neurocrine Biosciences from $160.00 to $165.00 and gave the company an "overweight" rating in a report on Monday, December 23rd. Finally, Guggenheim lowered their price target on Neurocrine Biosciences from $165.00 to $163.00 and set a "buy" rating for the company in a report on Monday, February 10th. Five investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Neurocrine Biosciences has a consensus rating of "Moderate Buy" and an average target price of $165.24.

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.