Sequoia Financial Advisors LLC Buys New Stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Sequoia Financial Advisors LLC bought a new stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) in the 4th quarter, HoldingsChannel.com reports. The firm bought 1,780 shares of the company’s stock, valued at approximately $243,000.

Other large investors have also recently made changes to their positions in the company. Golden State Wealth Management LLC acquired a new position in shares of Neurocrine Biosciences in the 4th quarter valued at $25,000. Brooklyn Investment Group lifted its stake in shares of 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 purchasing an additional 115 shares during the period. Lindbrook Capital LLC raised its position in Neurocrine Biosciences by 53.5% during the fourth quarter. Lindbrook Capital LLC now owns 373 shares of the company’s stock worth $51,000 after acquiring an additional 130 shares during the period. R Squared Ltd purchased a new position in Neurocrine Biosciences during the fourth quarter valued at $61,000. Finally, UMB Bank n.a. lifted its holdings in Neurocrine Biosciences by 211.6% during the fourth quarter. UMB Bank n.a. now owns 455 shares of the company’s stock valued at $62,000 after purchasing an additional 309 shares in the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Neurocrine Biosciences Trading Up 0.6 %

Neurocrine Biosciences stock opened at $110.31 on Thursday. Neurocrine Biosciences, Inc. has a 12-month low of $105.18 and a 12-month high of $157.98. The stock has a market cap of $11.00 billion, a P/E ratio of 33.53, a PEG ratio of 0.77 and a beta of 0.35. The company has a 50-day moving average price of $128.06 and a 200 day moving average price of $125.36.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings results on Thursday, February 6th. The company reported $1.00 earnings per share 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, analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

Neurocrine Biosciences declared that its Board of Directors has authorized a share repurchase plan on Friday, February 21st that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to buy up to 4.2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

NBIX has been the topic of several recent analyst reports. Piper Sandler reaffirmed an “overweight” rating and set a $160.00 price objective on shares of Neurocrine Biosciences in a report on Monday, December 23rd. Guggenheim decreased their price objective on shares of Neurocrine Biosciences from $165.00 to $163.00 and set a “buy” rating on the stock in a report on Monday, February 10th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Neurocrine Biosciences in a report on Tuesday, February 11th. They set a “hold” rating and a $138.00 price objective on the stock. UBS Group increased their price objective on shares of Neurocrine Biosciences from $162.00 to $176.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Finally, StockNews.com downgraded shares of Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a report on Thursday. Five investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $165.24.

Insider Buying and Selling at Neurocrine Biosciences

In other Neurocrine Biosciences news, Director Kevin Charles Gorman sold 146,105 shares of Neurocrine Biosciences stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $149.46, for a total transaction of $21,836,853.30. Following the completion of the sale, the director now directly owns 514,596 shares in the company, valued at $76,911,518.16. This trade represents a 22.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ingrid Delaet sold 272 shares of Neurocrine Biosciences stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $138.10, for a total transaction of $37,563.20. Following the sale, the insider now owns 2,507 shares of the company’s stock, valued at approximately $346,216.70. This represents a 9.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 233,178 shares of company stock worth $33,906,594 over the last three months. 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.