5,086 Shares in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Bought by AlTi Global Inc.

AlTi Global Inc. purchased a new stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) during the fourth quarter, according to its most recent filing with the SEC. The fund purchased 5,086 shares of the company’s stock, valued at approximately $729,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Golden State Wealth Management LLC bought a new position in Neurocrine Biosciences during the fourth quarter valued at approximately $25,000. Huntington National Bank boosted its position in shares of Neurocrine Biosciences by 73.5% during the 4th quarter. Huntington National Bank now owns 229 shares of the company’s stock valued at $31,000 after acquiring an additional 97 shares during the last quarter. Brooklyn Investment Group grew its holdings in shares of Neurocrine Biosciences by 99.1% in the fourth quarter. Brooklyn Investment Group now owns 231 shares of the company’s stock valued at $32,000 after purchasing an additional 115 shares in the last quarter. GeoWealth Management LLC raised its stake in Neurocrine Biosciences by 65.4% during the fourth quarter. GeoWealth Management LLC now owns 258 shares of the company’s stock valued at $35,000 after purchasing an additional 102 shares in the last quarter. Finally, Lindbrook Capital LLC lifted its position in Neurocrine Biosciences by 53.5% during the fourth quarter. Lindbrook Capital LLC now owns 373 shares of the company’s stock valued at $51,000 after purchasing an additional 130 shares during the last quarter. Institutional investors own 92.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on NBIX shares. Needham & Company LLC raised shares of Neurocrine Biosciences from a “hold” rating to a “buy” rating and set a $138.00 price target for the company in a report on Tuesday, April 15th. Canaccord Genuity Group lowered their price objective on Neurocrine Biosciences from $163.00 to $158.00 and set a “buy” rating for the company in a research note on Monday, April 28th. Bank of America decreased their price target on Neurocrine Biosciences from $184.00 to $179.00 and set a “buy” rating on the stock in a report on Friday, February 7th. William Blair reaffirmed an “outperform” rating on shares of Neurocrine Biosciences in a research note on Friday, February 7th. Finally, JPMorgan Chase & Co. increased their target price on shares of Neurocrine Biosciences from $183.00 to $184.00 and gave the company an “overweight” rating in a research note on Wednesday, March 26th. Three investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat, Neurocrine Biosciences currently has an average rating of “Moderate Buy” and a consensus price target of $160.90.

Neurocrine Biosciences Stock Performance

NBIX stock opened at $109.68 on Friday. Neurocrine Biosciences, Inc. has a one year low of $84.23 and a one year high of $157.98. The firm has a market cap of $10.85 billion, a price-to-earnings ratio of 33.34, a PEG ratio of 0.77 and a beta of 0.33. The firm has a 50-day simple moving average of $106.19 and a two-hundred day simple moving average of $121.86.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its 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 net margin of 14.49% and a return on equity of 13.38%. As a group, equities analysts predict that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

Neurocrine Biosciences announced that its Board of Directors has approved a stock repurchase plan 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 stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Insider Activity at Neurocrine Biosciences

In other Neurocrine Biosciences news, insider Ingrid Delaet sold 623 shares of Neurocrine Biosciences stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $149.29, for a total transaction of $93,007.67. Following the completion of the sale, the insider now owns 3,442 shares of the company’s stock, valued at approximately $513,856.18. The trade was a 15.33 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kevin Charles Gorman sold 5,844 shares of the firm’s stock in a transaction dated 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 transaction, the director now owns 521,618 shares of the company’s stock, valued at approximately $60,867,604.42. The trade was a 1.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 14,530 shares of company stock valued at $1,722,989 in the last ninety days. Corporate insiders own 4.30% of the company’s stock.

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.