Tower Research Capital LLC TRC Raises Stock Holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Tower Research Capital LLC TRC raised its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 368.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,580 shares of the company's stock after purchasing an additional 8,323 shares during the quarter. Tower Research Capital LLC TRC's holdings in Neurocrine Biosciences were worth $1,444,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NBIX. Dodge & Cox raised its position in shares of Neurocrine Biosciences by 134.2% during the fourth quarter. Dodge & Cox now owns 3,016,425 shares of the company's stock worth $411,742,000 after acquiring an additional 1,728,605 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Neurocrine Biosciences during the fourth quarter valued at about $115,193,000. Wellington Management Group LLP boosted its position 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 valued at $198,939,000 after buying an additional 739,199 shares during the last quarter. Thrivent Financial for Lutherans lifted its stake in Neurocrine Biosciences by 2,759.4% during the 4th quarter. Thrivent Financial for Lutherans now owns 737,772 shares of the company's stock valued at $100,705,000 after acquiring an additional 711,970 shares in the last quarter. Finally, Jennison Associates LLC lifted its position 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 buying an additional 485,894 shares in the last quarter. Institutional investors own 92.59% of the company's stock.

Insider Activity

In other Neurocrine Biosciences news, CFO Matt Abernethy sold 2,558 shares of the firm's stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $116.86, for a total transaction of $298,927.88. Following the completion of the transaction, the chief financial officer now owns 34,775 shares of the company's stock, valued at approximately $4,063,806.50. This trade represents a 6.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kevin Charles Gorman sold 146,105 shares of the business's stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $149.46, for a total value of $21,836,853.30. Following the completion of the sale, the director now directly owns 514,596 shares in the company, valued at approximately $76,911,518.16. This represents a 22.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 167,906 shares of company stock valued at $24,671,530. Corporate insiders own 4.30% of the company's stock.

Neurocrine Biosciences Stock Performance

Shares of NASDAQ NBIX traded up $0.97 during trading hours on Friday, hitting $106.73. The company's stock had a trading volume of 1,328,294 shares, compared to its average volume of 1,068,286. The business has a 50-day simple moving average of $107.16 and a 200-day simple moving average of $122.15. The stock has a market cap of $10.56 billion, a price-to-earnings ratio of 32.44, a P/E/G ratio of 0.77 and a beta of 0.33. Neurocrine Biosciences, Inc. has a 12 month low of $84.23 and a 12 month high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last announced its 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 EPS for the current year.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on NBIX shares. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Neurocrine Biosciences in a report on Tuesday, February 11th. They issued a "hold" rating and a $138.00 price target on the stock. Needham & Company LLC upgraded Neurocrine Biosciences from a "hold" rating to a "buy" rating and set a $138.00 target price on the stock in a research report on Tuesday, April 15th. Bank of America reduced their price target on Neurocrine Biosciences from $184.00 to $179.00 and set a "buy" rating for the company in a research report on Friday, February 7th. Canaccord Genuity Group dropped their price objective on Neurocrine Biosciences from $172.00 to $163.00 and set a "buy" rating on the stock in a report on Friday, February 7th. Finally, William Blair reaffirmed an "outperform" rating on shares of Neurocrine Biosciences in a report on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat.com, Neurocrine Biosciences presently has a consensus rating of "Moderate Buy" and a consensus target price of $161.14.

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.