Wealthfront Advisers LLC Takes Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Wealthfront Advisers LLC purchased a new stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 5,382 shares of the company's stock, valued at approximately $735,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC acquired a new stake in Neurocrine Biosciences in the 4th quarter valued at $25,000. Brooklyn Investment Group grew its stake in Neurocrine Biosciences by 99.1% in the 4th quarter. Brooklyn Investment Group now owns 231 shares of the company's stock valued at $32,000 after acquiring an additional 115 shares during the period. Lindbrook Capital LLC grew its stake in Neurocrine Biosciences by 53.5% in the 4th quarter. Lindbrook Capital LLC now owns 373 shares of the company's stock valued at $51,000 after acquiring an additional 130 shares during the period. R Squared Ltd acquired a new stake in Neurocrine Biosciences in the 4th quarter valued at $61,000. Finally, UMB Bank n.a. grew its stake in Neurocrine Biosciences by 211.6% in the 4th quarter. UMB Bank n.a. now owns 455 shares of the company's stock valued at $62,000 after acquiring an additional 309 shares during the period. Institutional investors and hedge funds own 92.59% of the company's stock.

Analyst Ratings Changes

NBIX has been the topic of several recent research reports. Wedbush lowered their target price on shares of Neurocrine Biosciences from $157.00 to $147.00 and set an "outperform" rating on the stock in a research note on Friday, February 7th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Neurocrine Biosciences in a research note on Tuesday, February 11th. They set a "hold" rating and a $138.00 target price on the stock. Piper Sandler reaffirmed an "overweight" rating and set a $160.00 target price on shares of Neurocrine Biosciences in a research note on Monday, December 23rd. William Blair reaffirmed an "outperform" rating on shares of Neurocrine Biosciences in a research note on Friday, February 7th. Finally, Barclays lifted their target price on shares of Neurocrine Biosciences from $160.00 to $165.00 and gave the stock an "overweight" rating in a research note on Monday, December 23rd. Five investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Neurocrine Biosciences currently has a consensus rating of "Moderate Buy" and an average price target of $165.24.

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Insider Activity at Neurocrine Biosciences

In other news, Director Kevin Charles Gorman sold 5,844 shares of the stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $116.69, for a total value of $681,936.36. Following the completion of the sale, the director now directly owns 521,618 shares of the company's stock, 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 this hyperlink. Also, insider Ingrid Delaet sold 272 shares of the stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $138.10, for a total value of $37,563.20. Following the completion of the sale, the insider now directly owns 2,507 shares of the company's stock, valued at $346,216.70. The trade was a 9.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 233,178 shares of company stock valued at $33,906,594 over the last three months. 4.30% of the stock is owned by corporate insiders.

Neurocrine Biosciences Price Performance

Shares of NBIX stock traded up $0.61 during trading hours on Wednesday, reaching $110.31. 909,987 shares of the stock were exchanged, compared to its average volume of 957,453. The business's fifty day moving average is $128.62 and its two-hundred day moving average is $125.47. The firm has a market capitalization of $11.00 billion, a P/E ratio of 33.53, a P/E/G ratio of 0.77 and a beta of 0.35. Neurocrine Biosciences, Inc. has a 12-month low of $105.18 and a 12-month high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The company reported $1.00 earnings per share (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%. As a group, equities research analysts predict that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

Neurocrine Biosciences announced that its board has authorized a stock buyback plan 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 plans are typically a sign that the company's management believes its shares are undervalued.

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.