Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Stock Position Raised by DnB Asset Management AS

DnB Asset Management AS lifted its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 3.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 118,227 shares of the company's stock after buying an additional 3,500 shares during the quarter. DnB Asset Management AS owned approximately 0.12% of Neurocrine Biosciences worth $16,138,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Golden State Wealth Management LLC acquired a new position in Neurocrine Biosciences during the 4th quarter worth $25,000. Brooklyn Investment Group grew its stake in Neurocrine Biosciences by 99.1% in the fourth quarter. Brooklyn Investment Group now owns 231 shares of the company's stock worth $32,000 after purchasing an additional 115 shares in the last quarter. Lindbrook Capital LLC grew its stake in Neurocrine Biosciences by 53.5% in the fourth quarter. Lindbrook Capital LLC now owns 373 shares of the company's stock worth $51,000 after purchasing an additional 130 shares in the last quarter. R Squared Ltd bought a new stake in Neurocrine Biosciences in the fourth quarter valued at about $61,000. Finally, UMB Bank n.a. raised its stake in Neurocrine Biosciences by 211.6% during the fourth quarter. UMB Bank n.a. now owns 455 shares of the company's stock valued at $62,000 after buying an additional 309 shares in the last quarter. Institutional investors own 92.59% of the company's stock.

Neurocrine Biosciences Stock Up 0.8 %

NBIX traded up $0.87 during trading on Wednesday, reaching $107.87. The stock had a trading volume of 439,837 shares, compared to its average volume of 984,431. Neurocrine Biosciences, Inc. has a 1-year low of $98.21 and a 1-year high of $157.98. The firm has a market capitalization of $10.76 billion, a price-to-earnings ratio of 32.79, a price-to-earnings-growth ratio of 0.77 and a beta of 0.35. The stock has a 50 day moving average of $122.73 and a two-hundred day moving average of $124.78.

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Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last announced its 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, research analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

Neurocrine Biosciences declared that its Board of Directors has authorized a share buyback program on Friday, February 21st that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 4.2% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Barclays boosted their price target on Neurocrine Biosciences from $160.00 to $165.00 and gave the company an "overweight" rating in a report on Monday, December 23rd. Piper Sandler reissued an "overweight" rating and set a $160.00 target price on shares of Neurocrine Biosciences in a report on Monday, December 23rd. HC Wainwright restated a "buy" rating and issued a $185.00 price target on shares of Neurocrine Biosciences in a research report on Friday, February 21st. Needham & Company LLC reaffirmed a "hold" rating on shares of Neurocrine Biosciences in a research report on Friday, February 7th. Finally, Canaccord Genuity Group cut their target price on shares of Neurocrine Biosciences from $172.00 to $163.00 and set a "buy" rating on the stock in a report on Friday, February 7th. Five equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $165.38.

Insider Activity

In other news, insider Ingrid Delaet sold 623 shares of the firm's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $149.29, for a total transaction of $93,007.67. Following the completion of the sale, the insider now directly owns 3,442 shares of the company's stock, valued at $513,856.18. This trade represents a 15.33 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Julie Cooke sold 1,740 shares of the business's stock in a transaction on Friday, January 31st. The stock was sold at an average price of $152.89, for a total value of $266,028.60. Following the sale, the insider now directly owns 18,202 shares in the company, valued at $2,782,903.78. This trade represents a 8.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 232,906 shares of company stock worth $33,869,030. Corporate insiders own 4.30% of the company's stock.

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.