34,535 Shares in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Purchased by Proficio Capital Partners LLC

Proficio Capital Partners LLC purchased a new stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 34,535 shares of the company's stock, valued at approximately $4,714,000.

Several other hedge funds have also made changes to their positions in NBIX. State Street Corp lifted its position in shares of Neurocrine Biosciences by 11.7% in the third quarter. State Street Corp now owns 5,148,293 shares of the company's stock worth $593,186,000 after purchasing an additional 539,936 shares in the last quarter. Geode Capital Management LLC boosted its stake in Neurocrine Biosciences by 2.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,859,232 shares of the company's stock valued at $213,773,000 after purchasing an additional 39,610 shares during the period. Braidwell LP boosted its holdings in Neurocrine Biosciences by 20.9% in the 3rd quarter. Braidwell LP now owns 917,674 shares of the company's stock valued at $105,734,000 after purchasing an additional 158,665 shares during the period. Bank of New York Mellon Corp lifted its stake 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 valued at $118,795,000 after buying an additional 12,040 shares during the period. Finally, Jennison Associates LLC grew its holdings in shares of Neurocrine Biosciences by 145.1% during the 4th quarter. Jennison Associates LLC now owns 820,694 shares of the company's stock worth $112,025,000 after purchasing an additional 485,894 shares in the last quarter. Hedge funds and other institutional investors own 92.59% of the company's stock.

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Neurocrine Biosciences Trading Up 1.7 %

Shares of NBIX stock traded up $1.85 during mid-day trading on Friday, reaching $111.92. The stock had a trading volume of 2,288,117 shares, compared to its average volume of 964,376. The stock's 50-day moving average price is $127.48 and its two-hundred day moving average price is $125.25. The firm has a market capitalization of $11.16 billion, a PE ratio of 34.02, a price-to-earnings-growth ratio of 0.77 and a beta of 0.35. Neurocrine Biosciences, Inc. has a 52-week low of $105.18 and a 52-week 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 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%. On average, equities research analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.

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

Insider Buying and Selling at Neurocrine Biosciences

In related news, Director Kevin Charles Gorman sold 5,844 shares of the company's 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 completion of the sale, the director now owns 521,618 shares in the company, valued at approximately $60,867,604.42. This represents a 1.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Kyle Gano sold 65,000 shares of the business's 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 sale, the chief executive officer now owns 135,392 shares of the company's stock, valued at approximately $19,157,968. This represents a 32.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 233,178 shares of company stock worth $33,906,594. 4.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

NBIX has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Neurocrine Biosciences in a research note on Tuesday, February 11th. They issued a "hold" rating and a $138.00 target price on the stock. UBS Group upped their price target on Neurocrine Biosciences from $162.00 to $176.00 and gave the company a "buy" rating in a research note on Thursday, January 30th. Guggenheim lowered their target price on shares of Neurocrine Biosciences from $165.00 to $163.00 and set a "buy" rating for the company in a report on Monday, February 10th. Barclays increased their price target on shares of Neurocrine Biosciences from $160.00 to $165.00 and gave the company an "overweight" rating in a research report on Monday, December 23rd. Finally, Piper Sandler reissued an "overweight" rating and issued a $160.00 target price on shares of Neurocrine Biosciences in a research note on Monday, December 23rd. Five research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $165.24.

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.