Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Stock Position Raised by Strategic Global Advisors LLC

Strategic Global Advisors LLC boosted its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 4.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,521 shares of the company’s stock after acquiring an additional 827 shares during the period. Strategic Global Advisors LLC’s holdings in Neurocrine Biosciences were worth $2,801,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Tema Etfs LLC acquired a new stake in shares of Neurocrine Biosciences during the 4th quarter worth approximately $525,000. Toronto Dominion Bank increased its position in Neurocrine Biosciences by 3.9% in the fourth quarter. Toronto Dominion Bank now owns 13,183 shares of the company’s stock worth $1,799,000 after buying an additional 499 shares during the period. Siemens Fonds Invest GmbH acquired a new stake in Neurocrine Biosciences in the fourth quarter worth $850,000. Raiffeisen Bank International AG bought a new stake in Neurocrine Biosciences in the fourth quarter valued at $1,563,000. Finally, Quantinno Capital Management LP boosted its holdings in shares of Neurocrine Biosciences by 77.0% during the fourth quarter. Quantinno Capital Management LP now owns 3,963 shares of the company’s stock valued at $541,000 after acquiring an additional 1,724 shares during the period. Institutional investors own 92.59% of the company’s stock.

Neurocrine Biosciences Stock Performance

Neurocrine Biosciences stock opened at $121.02 on Friday. The company has a 50 day moving average price of $107.02 and a 200 day moving average price of $121.91. Neurocrine Biosciences, Inc. has a 52 week low of $84.23 and a 52 week high of $157.98. The firm has a market capitalization of $11.98 billion, a price-to-earnings ratio of 36.78, a P/E/G ratio of 0.77 and a beta of 0.26.

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

Neurocrine Biosciences announced that its board has initiated a share repurchase plan on Friday, February 21st that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to reacquire up to 4.2% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

Insider Activity

In other news, Director William H. Rastetter sold 30,000 shares of the business’s stock in a transaction 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 transaction, the director now directly owns 37,491 shares in the company, valued at $4,131,508.20. The trade was a 44.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 4.80% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on NBIX. Guggenheim increased their price objective on shares of Neurocrine Biosciences from $155.00 to $165.00 and gave the stock a “buy” rating in a report on Tuesday, May 6th. Needham & Company LLC raised their price target on shares of Neurocrine Biosciences from $138.00 to $139.00 and gave the company a “buy” rating in a research note on Tuesday, May 6th. UBS Group boosted their price objective on Neurocrine Biosciences from $137.00 to $152.00 and gave the stock a “buy” rating in a research report on Tuesday, May 6th. Canaccord Genuity Group increased their price objective on Neurocrine Biosciences from $158.00 to $160.00 and gave the stock a “buy” rating in a report on Tuesday, May 6th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $150.00 target price (down previously from $185.00) on shares of Neurocrine Biosciences in a research note on Friday, March 7th. Three equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat.com, Neurocrine Biosciences currently has an average rating of “Moderate Buy” and an average price target of $162.00.

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.