Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Shares Bought by Driehaus Capital Management LLC

Driehaus Capital Management LLC grew its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 45.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 102,921 shares of the company’s stock after acquiring an additional 32,114 shares during the quarter. Driehaus Capital Management LLC owned about 0.10% of Neurocrine Biosciences worth $14,049,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Dodge & Cox lifted its position in Neurocrine Biosciences by 134.2% during the 4th quarter. Dodge & Cox now owns 3,016,425 shares of the company’s stock worth $411,742,000 after acquiring an additional 1,728,605 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Neurocrine Biosciences during the fourth quarter worth approximately $115,193,000. Wellington Management Group LLP lifted its holdings in shares of Neurocrine Biosciences by 102.9% during the fourth quarter. Wellington Management Group LLP now owns 1,457,425 shares of the company’s stock worth $198,939,000 after purchasing an additional 739,199 shares during the period. Thrivent Financial for Lutherans grew its position in Neurocrine Biosciences by 2,759.4% in the 4th quarter. Thrivent Financial for Lutherans now owns 737,772 shares of the company’s stock valued at $100,705,000 after buying an additional 711,970 shares during the last quarter. Finally, Jennison Associates LLC raised its position in Neurocrine Biosciences by 145.1% during the 4th quarter. Jennison Associates LLC now owns 820,694 shares of the company’s stock worth $112,025,000 after buying an additional 485,894 shares during the last quarter. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on NBIX shares. William Blair reiterated an “outperform” rating on shares of Neurocrine Biosciences in a research note on Friday, February 7th. Piper Sandler reissued an “overweight” rating and set a $154.00 target price (down from $160.00) on shares of Neurocrine Biosciences in a research note on Tuesday. Needham & Company LLC raised their price target on Neurocrine Biosciences from $138.00 to $139.00 and gave the company a “buy” rating in a report on Tuesday. StockNews.com lowered Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 20th. Finally, Royal Bank of Canada raised their target price on Neurocrine Biosciences from $137.00 to $145.00 and gave the company an “outperform” rating in a report on Tuesday. Three research 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, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $162.00.

Insider Buying and Selling at Neurocrine Biosciences

In related news, Director William H. Rastetter sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $110.20, for a total transaction of $3,306,000.00. Following the completion of the transaction, the director now owns 37,491 shares of the company’s stock, valued at approximately $4,131,508.20. This represents a 44.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kevin Charles Gorman sold 5,844 shares of Neurocrine Biosciences stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $116.69, for a total transaction of $681,936.36. Following the completion of the transaction, the director now owns 521,618 shares in the company, valued at approximately $60,867,604.42. This trade represents a 1.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,907 shares of company stock worth $4,935,982 in the last 90 days. 4.30% of the stock is owned by company insiders.

Neurocrine Biosciences Stock Performance

Shares of NBIX opened at $115.71 on Friday. Neurocrine Biosciences, Inc. has a 1 year low of $84.23 and a 1 year high of $157.98. The company’s 50 day simple moving average is $106.23 and its 200 day simple moving average is $121.80. The company has a market capitalization of $11.45 billion, a price-to-earnings ratio of 35.17, a PEG ratio of 0.77 and a beta of 0.26.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings data on Monday, May 5th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.62). The business had revenue of $572.60 million for the quarter, compared to analyst estimates of $587.06 million. Neurocrine Biosciences had a return on equity of 13.38% and a net margin of 14.49%. Neurocrine Biosciences’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.20 EPS. Equities analysts expect that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

Neurocrine Biosciences declared that its board has authorized a stock repurchase plan on Friday, February 21st that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 4.2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors 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.