Corient Private Wealth LLC Acquires 3,094 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Corient Private Wealth LLC raised its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 64.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,927 shares of the company's stock after purchasing an additional 3,094 shares during the period. Corient Private Wealth LLC's holdings in Neurocrine Biosciences were worth $1,082,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of NBIX. Louisiana State Employees Retirement System raised its holdings in shares of Neurocrine Biosciences by 0.4% during the fourth quarter. Louisiana State Employees Retirement System now owns 28,100 shares of the company's stock valued at $3,836,000 after acquiring an additional 100 shares in the last quarter. Metis Global Partners LLC raised its holdings in Neurocrine Biosciences by 4.3% in the 4th quarter. Metis Global Partners LLC now owns 2,548 shares of the company's stock worth $348,000 after purchasing an additional 104 shares in the last quarter. Commerce Bank lifted its position in shares of Neurocrine Biosciences by 2.6% in the 3rd quarter. Commerce Bank now owns 4,199 shares of the company's stock worth $484,000 after purchasing an additional 108 shares during the period. Brooklyn Investment Group boosted its stake in shares of Neurocrine Biosciences by 99.1% during the 4th 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. Finally, Oregon Public Employees Retirement Fund increased its position in shares of Neurocrine Biosciences by 0.6% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 20,633 shares of the company's stock valued at $2,816,000 after buying an additional 117 shares during the period. Hedge funds and other institutional investors own 92.59% of the company's stock.

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Analyst Ratings Changes

A number of research analysts have weighed in on the company. William Blair reiterated an "outperform" rating on shares of Neurocrine Biosciences in a report on Friday, February 7th. JPMorgan Chase & Co. increased their price objective on Neurocrine Biosciences from $183.00 to $184.00 and gave the stock an "overweight" rating in a report on Wednesday. Royal Bank of Canada dropped their target price on shares of Neurocrine Biosciences from $154.00 to $148.00 and set a "sector perform" rating on the stock in a report on Friday, February 7th. StockNews.com cut shares of Neurocrine Biosciences from a "strong-buy" rating to a "buy" rating in a research report on Thursday, March 20th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Neurocrine Biosciences in a research note on Friday, February 7th. Five analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Neurocrine Biosciences has a consensus rating of "Moderate Buy" and a consensus target price of $165.38.

Insiders Place Their Bets

In related news, Director Kevin Charles Gorman sold 5,844 shares of Neurocrine Biosciences stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $116.69, for a total transaction of $681,936.36. Following the transaction, the director now directly owns 521,618 shares in the company, valued at approximately $60,867,604.42. The trade was a 1.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ingrid Delaet sold 272 shares of the business's stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $138.10, for a total value of $37,563.20. Following the sale, the insider now directly owns 2,507 shares of the company's stock, valued at $346,216.70. This represents a 9.79 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 233,178 shares of company stock valued at $33,906,594. Insiders own 4.30% of the company's stock.

Neurocrine Biosciences Stock Performance

Shares of NBIX traded down $0.84 during mid-day trading on Friday, hitting $113.16. 800,768 shares of the company traded hands, compared to its average volume of 981,987. The stock has a market cap of $11.28 billion, a price-to-earnings ratio of 34.40, a P/E/G ratio of 0.77 and a beta of 0.35. The stock has a 50-day moving average price of $124.17 and a two-hundred day moving average price of $124.96. Neurocrine Biosciences, Inc. has a 1 year low of $105.18 and a 1 year 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 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%. On average, analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

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

Neurocrine Biosciences Company 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.