Proficio Capital Partners LLC Purchases Shares of 34,535 Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

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

A number of other institutional investors have also recently bought and sold shares of the business. State Street Corp boosted its stake in Neurocrine Biosciences by 11.7% during the 3rd quarter. State Street Corp now owns 5,148,293 shares of the company's stock worth $593,186,000 after acquiring an additional 539,936 shares during the last quarter. Jennison Associates LLC boosted its position in shares of Neurocrine Biosciences by 145.1% during the fourth 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. Los Angeles Capital Management LLC increased its position in shares of Neurocrine Biosciences by 639.6% in the 3rd quarter. Los Angeles Capital Management LLC now owns 420,748 shares of the company's stock valued at $48,479,000 after buying an additional 363,863 shares in the last quarter. Impax Asset Management Group plc raised its stake in Neurocrine Biosciences by 207.8% during the 4th quarter. Impax Asset Management Group plc now owns 261,599 shares of the company's stock worth $35,708,000 after buying an additional 176,599 shares during the period. Finally, Braidwell LP lifted its holdings in Neurocrine Biosciences by 20.9% during the third quarter. Braidwell LP now owns 917,674 shares of the company's stock worth $105,734,000 after acquiring an additional 158,665 shares in the last quarter. Institutional investors and hedge funds own 92.59% of the company's stock.

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Insiders Place Their Bets

In other Neurocrine Biosciences news, CEO Kyle Gano sold 65,000 shares of Neurocrine Biosciences stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $141.50, for a total transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kevin Charles Gorman sold 5,844 shares of the firm's stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $116.69, for a total transaction of $681,936.36. Following the sale, the director now owns 521,618 shares of the company's stock, valued at $60,867,604.42. This trade represents a 1.11 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 234,269 shares of company stock valued at $34,053,879. 4.30% of the stock is currently owned by insiders.

Neurocrine Biosciences Stock Up 0.3 %

Shares of NBIX stock traded up $0.38 during trading on Friday, reaching $113.04. 1,650,716 shares of the company's stock were exchanged, compared to its average volume of 1,346,969. The firm's fifty day moving average price is $133.00 and its 200-day moving average price is $127.59. Neurocrine Biosciences, Inc. has a twelve month low of $110.25 and a twelve month high of $157.98. The stock has a market capitalization of $11.27 billion, a PE ratio of 34.36, a PEG ratio of 0.77 and a beta of 0.33.

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%. As a group, analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

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

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on NBIX shares. StockNews.com lowered Neurocrine Biosciences from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft started coverage on shares of Neurocrine Biosciences in a report on Tuesday, February 11th. They issued a "hold" rating and a $138.00 price target for the company. Needham & Company LLC reaffirmed a "hold" rating on shares of Neurocrine Biosciences in a research report on Friday, February 7th. Bank of America lowered their target price on Neurocrine Biosciences from $184.00 to $179.00 and set a "buy" rating for the company in a report on Friday, February 7th. Finally, Piper Sandler restated an "overweight" rating and issued a $160.00 price target on shares of Neurocrine Biosciences in a report on Monday, December 23rd. 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. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $165.24.

About Neurocrine Biosciences

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.