34,535 Shares in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Acquired by Proficio Capital Partners LLC

Proficio Capital Partners LLC bought a new stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) during the 4th quarter, HoldingsChannel reports. The firm bought 34,535 shares of the company’s stock, valued at approximately $4,714,000.

Several other institutional investors have also added to or reduced their stakes in the business. Caprock Group LLC purchased a new position in Neurocrine Biosciences in the 4th quarter worth about $236,000. Charles Schwab Investment Management Inc. grew its stake in shares of Neurocrine Biosciences by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 762,557 shares of the company’s stock worth $104,089,000 after acquiring an additional 15,266 shares during the period. Swiss National Bank raised its holdings in shares of Neurocrine Biosciences by 1.4% during the third quarter. Swiss National Bank now owns 298,700 shares of the company’s stock valued at $34,416,000 after purchasing an additional 4,100 shares during the last quarter. Tri Ri Asset Management Corp bought a new position in Neurocrine Biosciences during the third quarter valued at approximately $3,236,000. Finally, KBC Group NV boosted its holdings in Neurocrine Biosciences by 78.3% in the third quarter. KBC Group NV now owns 18,972 shares of the company’s stock worth $2,186,000 after purchasing an additional 8,332 shares during the last quarter. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Neurocrine Biosciences

In other Neurocrine Biosciences news, insider Julie Cooke sold 1,740 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $152.89, for a total transaction of $266,028.60. Following the sale, the insider now directly owns 18,202 shares of the company’s stock, valued at $2,782,903.78. The trade was a 8.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Ingrid Delaet sold 272 shares of the company’s stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $138.10, for a total value of $37,563.20. Following the sale, the insider now owns 2,507 shares in the company, valued at approximately $346,216.70. This trade represents a 9.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 233,178 shares of company stock valued at $33,906,594 in the last ninety days. Corporate insiders own 4.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on NBIX shares. Deutsche Bank Aktiengesellschaft began coverage on Neurocrine Biosciences in a research note on Tuesday, February 11th. They issued a “hold” rating and a $138.00 price target on the stock. Barclays raised their target price on Neurocrine Biosciences from $160.00 to $165.00 and gave the stock an “overweight” rating in a research report on Monday, December 23rd. Canaccord Genuity Group reduced their price target on shares of Neurocrine Biosciences from $172.00 to $163.00 and set a “buy” rating for the company in a research report on Friday, February 7th. William Blair reissued an “outperform” rating on shares of Neurocrine Biosciences in a report on Friday, February 7th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $160.00 target price on shares of Neurocrine Biosciences in a report on Monday, December 23rd. Five research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $165.24.

Neurocrine Biosciences Stock Up 0.7 %

Shares of NBIX stock opened at $111.50 on Tuesday. The company’s fifty day simple moving average is $129.18 and its two-hundred day simple moving average is $125.59. Neurocrine Biosciences, Inc. has a 52 week low of $105.18 and a 52 week high of $157.98. The stock has a market cap of $11.12 billion, a P/E ratio of 33.89, a PEG ratio of 0.77 and a beta of 0.35.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its earnings results on Thursday, February 6th. The company reported $1.00 EPS for the quarter, missing analysts’ consensus estimates 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, analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

Neurocrine Biosciences announced that its board has authorized a stock buyback plan on Friday, February 21st that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 4.2% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

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.