Syon Capital LLC Acquires New Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Syon Capital LLC acquired a new stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 4,666 shares of the company's stock, valued at approximately $637,000.

Several other large investors also recently added to or reduced their stakes in NBIX. Dodge & Cox boosted its stake in Neurocrine Biosciences by 134.2% during the fourth quarter. Dodge & Cox now owns 3,016,425 shares of the company's stock valued at $411,742,000 after buying an additional 1,728,605 shares during the period. Raymond James Financial Inc. purchased a new stake in Neurocrine Biosciences during the fourth quarter valued at about $115,193,000. Wellington Management Group LLP raised its position in Neurocrine Biosciences by 102.9% during the fourth quarter. Wellington Management Group LLP now owns 1,457,425 shares of the company's stock valued at $198,939,000 after purchasing an additional 739,199 shares in the last quarter. Thrivent Financial for Lutherans raised its position in Neurocrine Biosciences by 2,759.4% during the fourth quarter. Thrivent Financial for Lutherans now owns 737,772 shares of the company's stock valued at $100,705,000 after purchasing an additional 711,970 shares in the last quarter. Finally, Jennison Associates LLC raised its position in Neurocrine Biosciences by 145.1% during the fourth quarter. Jennison Associates LLC now owns 820,694 shares of the company's stock valued at $112,025,000 after purchasing an additional 485,894 shares in the last quarter. Institutional investors own 92.59% of the company's stock.

Insiders Place Their Bets

In other 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 transaction, the director now directly owns 521,618 shares of the company's stock, valued at $60,867,604.42. This represents a 1.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Julie Cooke sold 1,551 shares of the company's stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $116.78, for a total value of $181,125.78. Following the transaction, the insider now directly owns 19,544 shares in the company, valued at approximately $2,282,348.32. The trade was a 7.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,801 shares of company stock valued at $2,834,677. 4.30% of the stock is currently owned by corporate insiders.

Neurocrine Biosciences Stock Down 0.3 %

Shares of NBIX traded down $0.27 during mid-day trading on Monday, hitting $106.46. 1,031,828 shares of the company's stock traded hands, compared to its average volume of 1,068,141. The firm has a market capitalization of $10.53 billion, a P/E ratio of 32.36, a PEG ratio of 0.77 and a beta of 0.33. The business's 50-day moving average price is $107.16 and its 200-day moving average price is $122.22. Neurocrine Biosciences, Inc. has a 1 year low of $84.23 and a 1 year high of $157.98.

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

Neurocrine Biosciences declared that its board has authorized a share repurchase plan on Friday, February 21st that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 4.2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's board believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research firms have weighed in on NBIX. William Blair restated an "outperform" rating on shares of Neurocrine Biosciences in a research report on Friday, February 7th. HC Wainwright lowered their price target on Neurocrine Biosciences from $185.00 to $168.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Canaccord Genuity Group lowered their price target on Neurocrine Biosciences from $163.00 to $158.00 and set a "buy" rating on the stock in a research report on Monday. Deutsche Bank Aktiengesellschaft initiated coverage on Neurocrine Biosciences in a research note on Tuesday, February 11th. They issued a "hold" rating and a $138.00 target price for the company. Finally, Needham & Company LLC upgraded Neurocrine Biosciences from a "hold" rating to a "buy" rating and set a $138.00 price target on the stock in a research report on Tuesday, April 15th. Three investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Neurocrine Biosciences has an average rating of "Moderate Buy" and an average target price of $160.90.

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.