Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Position Lifted by Principal Securities Inc.

Principal Securities Inc. raised its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 24.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,382 shares of the company’s stock after purchasing an additional 270 shares during the period. Principal Securities Inc.’s holdings in Neurocrine Biosciences were worth $189,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Autumn Glory Partners LLC acquired a new position in Neurocrine Biosciences in the fourth quarter worth about $273,000. Asset Management One Co. Ltd. grew its position in shares of Neurocrine Biosciences by 1.7% in the 4th quarter. Asset Management One Co. Ltd. now owns 70,431 shares of the company’s stock worth $9,821,000 after acquiring an additional 1,201 shares in the last quarter. Stanley Laman Group Ltd. grew its position in shares of Neurocrine Biosciences by 12.3% in the 4th quarter. Stanley Laman Group Ltd. now owns 42,158 shares of the company’s stock worth $5,755,000 after acquiring an additional 4,627 shares in the last quarter. Van ECK Associates Corp increased its holdings in shares of Neurocrine Biosciences by 11.8% in the 4th quarter. Van ECK Associates Corp now owns 93,406 shares of the company’s stock valued at $12,750,000 after acquiring an additional 9,824 shares during the last quarter. Finally, Louisiana State Employees Retirement System raised its position in shares of Neurocrine Biosciences by 0.4% during the 4th quarter. Louisiana State Employees Retirement System now owns 28,100 shares of the company’s stock valued at $3,836,000 after acquiring an additional 100 shares in the last quarter. Institutional investors own 92.59% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $185.00 price objective on shares of Neurocrine Biosciences in a report on Friday. Royal Bank of Canada decreased their price target on shares of Neurocrine Biosciences from $154.00 to $148.00 and set a “sector perform” rating for the company in a report on Friday, February 7th. StockNews.com downgraded shares of Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 18th. Piper Sandler reissued an “overweight” rating and issued a $160.00 target price on shares of Neurocrine Biosciences in a report on Monday, December 23rd. Finally, Barclays upped their target price on Neurocrine Biosciences from $160.00 to $165.00 and gave the company an “overweight” rating in a report on Monday, December 23rd. Five research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $166.90.

Insider Buying and Selling at Neurocrine Biosciences

In other news, Director Kevin Charles Gorman sold 2,707 shares of the business’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $152.92, for a total value of $413,954.44. Following the completion of the transaction, the director now owns 517,030 shares of the company’s stock, valued at $79,064,227.60. The trade was a 0.52 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Kyle Gano sold 65,000 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $141.50, for a total value of $9,197,500.00. Following the sale, the chief executive officer now directly owns 135,392 shares in the company, valued at approximately $19,157,968. This represents a 32.44 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 236,600 shares of company stock worth $34,348,261. Insiders own 4.30% of the company’s stock.

Neurocrine Biosciences Trading Down 1.3 %

Shares of NBIX opened at $119.11 on Tuesday. The stock has a 50 day simple moving average of $136.35 and a 200-day simple moving average of $129.11. The stock has a market cap of $11.88 billion, a PE ratio of 36.20, a PEG ratio of 0.77 and a beta of 0.33. Neurocrine Biosciences, Inc. has a 1 year low of $110.95 and a 1 year high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX) last posted 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%. On average, sell-side analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

Neurocrine Biosciences declared that its Board of Directors has authorized a stock repurchase program on Friday, February 21st that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to purchase up to 4.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its shares are undervalued.

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.