24,000 Shares in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Bought by Cercano Management LLC

Cercano Management LLC bought a new stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 24,000 shares of the company’s stock, valued at approximately $3,276,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NBIX. Vanguard Group Inc. increased its position in shares of Neurocrine Biosciences by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 10,119,641 shares of the company’s stock valued at $1,381,331,000 after acquiring an additional 122,681 shares during the last quarter. Dodge & Cox grew its stake in Neurocrine Biosciences by 134.2% in the fourth quarter. Dodge & Cox now owns 3,016,425 shares of the company’s stock valued at $411,742,000 after purchasing an additional 1,728,605 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Neurocrine Biosciences by 2.9% during the 4th quarter. AQR Capital Management LLC now owns 1,896,891 shares of the company’s stock worth $258,926,000 after purchasing an additional 53,610 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Neurocrine Biosciences by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 1,875,062 shares of the company’s stock worth $255,523,000 after purchasing an additional 15,830 shares in the last quarter. Finally, Wellington Management Group LLP boosted its holdings in shares of Neurocrine Biosciences by 102.9% in the 4th 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. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Royal Bank of Canada raised shares of Neurocrine Biosciences from a “sector perform” rating to an “outperform” rating and dropped their price target for the stock from $138.00 to $137.00 in a research report on Monday, April 14th. Guggenheim dropped their target price 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. William Blair reiterated an “outperform” rating on shares of Neurocrine Biosciences in a report on Friday, February 7th. JPMorgan Chase & Co. upped their price objective on Neurocrine Biosciences from $183.00 to $184.00 and gave the company an “overweight” rating in a research note on Wednesday, March 26th. Finally, Needham & Company LLC upgraded Neurocrine Biosciences from a “hold” rating to a “buy” rating and set a $138.00 target price for the company in a research note on Tuesday, April 15th. Three analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $160.90.

Insider Buying and Selling at Neurocrine Biosciences

In related news, CEO Kyle Gano sold 980 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $118.39, for a total transaction of $116,022.20. Following the sale, the chief executive officer now owns 137,658 shares of the company’s stock, valued at $16,297,330.62. This trade represents a 0.71 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Kevin Charles Gorman sold 5,844 shares of the business’s stock in a transaction 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 sale, the director now owns 521,618 shares in the company, valued at $60,867,604.42. This represents a 1.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 13,907 shares of company stock worth $1,629,982 over the last 90 days. Insiders own 4.30% of the company’s stock.

Neurocrine Biosciences Trading Up 0.1 %

Shares of Neurocrine Biosciences stock opened at $109.75 on Tuesday. The company has a 50 day moving average of $106.03 and a 200-day moving average of $121.83. The company has a market cap of $10.86 billion, a PE ratio of 33.36, a price-to-earnings-growth ratio of 0.77 and a beta of 0.26. Neurocrine Biosciences, Inc. has a 1-year low of $84.23 and a 1-year high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its earnings results on Monday, May 5th. The company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.62). Neurocrine Biosciences had a net margin of 14.49% and a return on equity of 13.38%. During the same period last year, the company posted $1.20 earnings per share. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. Research analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.

Neurocrine Biosciences declared that its Board of Directors has initiated a stock buyback plan on Friday, February 21st that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to purchase up to 4.2% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is 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.