Philadelphia Trust Co. Acquires 29,685 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Philadelphia Trust Co. boosted its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 441.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,410 shares of the company's stock after purchasing an additional 29,685 shares during the period. Philadelphia Trust Co.'s holdings in Neurocrine Biosciences were worth $4,970,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of NBIX. Vanguard Group Inc. grew its holdings in shares of Neurocrine Biosciences by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 10,119,641 shares of the company's stock worth $1,381,331,000 after buying an additional 122,681 shares in the last quarter. Geode Capital Management LLC boosted its position in Neurocrine Biosciences by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 1,875,062 shares of the company's stock worth $255,523,000 after acquiring an additional 15,830 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Neurocrine Biosciences by 102.9% during the 4th quarter. Wellington Management Group LLP now owns 1,457,425 shares of the company's stock worth $198,939,000 after acquiring an additional 739,199 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Neurocrine Biosciences by 8.6% in the fourth quarter. Invesco Ltd. now owns 949,512 shares of the company's stock valued at $129,608,000 after purchasing an additional 74,847 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Neurocrine Biosciences by 1.4% in the fourth quarter. Bank of New York Mellon Corp now owns 870,290 shares of the company's stock worth $118,795,000 after purchasing an additional 12,040 shares in the last quarter. Institutional investors and hedge funds own 92.59% of the company's stock.

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Wall Street Analysts Forecast Growth

NBIX has been the topic of several recent research reports. JPMorgan Chase & Co. lifted their price target on shares of Neurocrine Biosciences from $183.00 to $184.00 and gave the company an "overweight" rating in a research note on Wednesday, March 26th. Bank of America lowered their target price on Neurocrine Biosciences from $184.00 to $179.00 and set a "buy" rating on the stock in a research report on Friday, February 7th. William Blair reissued an "outperform" rating on shares of Neurocrine Biosciences in a research report on Friday, February 7th. Barclays boosted their price target on Neurocrine Biosciences from $160.00 to $165.00 and gave the stock an "overweight" rating in a research report on Monday, December 23rd. Finally, Deutsche Bank Aktiengesellschaft started coverage on Neurocrine Biosciences in a report on Tuesday, February 11th. They issued a "hold" rating and a $138.00 price objective for the company. Three research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $161.86.

Neurocrine Biosciences Trading Up 1.3 %

NBIX stock traded up $1.27 during trading hours on Tuesday, hitting $96.16. 1,767,586 shares of the stock were exchanged, compared to its average volume of 1,037,383. Neurocrine Biosciences, Inc. has a 12 month low of $84.23 and a 12 month high of $157.98. The firm has a market capitalization of $9.59 billion, a P/E ratio of 29.23, a P/E/G ratio of 0.77 and a beta of 0.33. The company has a 50-day simple moving average of $110.55 and a two-hundred day simple moving average of $122.92.

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 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 predict that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.

Neurocrine Biosciences announced that its board has initiated a stock buyback program 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 stock through open market purchases. Stock buyback programs are often a sign that the company's management believes its stock is undervalued.

Insider Activity

In other Neurocrine Biosciences news, CFO Matt Abernethy sold 1,283 shares of Neurocrine Biosciences stock in a transaction on Friday, January 31st. The stock was sold at an average price of $152.87, for a total value of $196,132.21. Following the completion of the transaction, the chief financial officer now directly owns 32,681 shares of the company's stock, valued at $4,995,944.47. The trade was a 3.78 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kevin Charles Gorman sold 146,105 shares of the company's stock in a transaction on Monday, January 27th. The shares were sold at an average price of $149.46, for a total value of $21,836,853.30. Following the sale, the director now owns 514,596 shares of the company's stock, valued at approximately $76,911,518.16. The trade was a 22.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, 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.