Renaissance Group LLC Acquires 13,432 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Renaissance Group LLC raised its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 6.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 217,572 shares of the company's stock after purchasing an additional 13,432 shares during the quarter. Renaissance Group LLC owned 0.21% of Neurocrine Biosciences worth $29,699,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Neurocrine Biosciences by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 10,119,641 shares of the company's stock valued at $1,381,331,000 after buying an additional 122,681 shares during the last quarter. State Street Corp raised its stake in shares of Neurocrine Biosciences by 11.7% during the third quarter. State Street Corp now owns 5,148,293 shares of the company's stock valued at $593,186,000 after acquiring an additional 539,936 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Neurocrine Biosciences by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 1,875,062 shares of the company's stock worth $255,523,000 after purchasing an additional 15,830 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Neurocrine Biosciences by 102.9% during the fourth quarter. Wellington Management Group LLP now owns 1,457,425 shares of the company's stock worth $198,939,000 after purchasing an additional 739,199 shares during the period. Finally, Invesco Ltd. grew its stake in shares of Neurocrine Biosciences by 8.6% in the fourth quarter. Invesco Ltd. now owns 949,512 shares of the company's stock worth $129,608,000 after purchasing an additional 74,847 shares during the last quarter. 92.59% of the stock is owned by institutional investors and hedge funds.

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Neurocrine Biosciences Price Performance

Shares of NASDAQ:NBIX traded up $0.15 during trading on Friday, reaching $90.87. 1,620,786 shares of the stock were exchanged, compared to its average volume of 1,030,863. Neurocrine Biosciences, Inc. has a 1-year low of $84.23 and a 1-year high of $157.98. The stock has a fifty day moving average of $111.68 and a two-hundred day moving average of $123.06. The firm has a market cap of $9.06 billion, a price-to-earnings ratio of 27.62, a price-to-earnings-growth ratio of 0.77 and a beta of 0.33.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last released its quarterly earnings data 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 return on equity of 13.38% and a net margin of 14.49%. Sell-side analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

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

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Bank of America cut their target price on Neurocrine Biosciences from $184.00 to $179.00 and set a "buy" rating on the stock in a report on Friday, February 7th. UBS Group reduced their target price on Neurocrine Biosciences from $154.00 to $137.00 and set a "buy" rating on the stock in a report on Friday, April 4th. Guggenheim lowered their price target 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. JPMorgan Chase & Co. upped their price objective 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. Finally, Royal Bank of Canada decreased their price objective on shares of Neurocrine Biosciences from $154.00 to $148.00 and set a "sector perform" rating for the company in a research report on Friday, February 7th. Five research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $163.52.

Insider Buying and Selling

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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Kyle Gano sold 65,000 shares of the stock in a transaction on 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 completion of the sale, the chief executive officer now directly owns 135,392 shares of the company's stock, valued at $19,157,968. The trade was a 32.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 232,906 shares of company stock worth $33,869,030 in the last quarter. Insiders own 4.30% of the company's stock.

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.