HighTower Advisors LLC Buys 1,013 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

HighTower Advisors LLC increased its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 10.6% in the fourth quarter, Holdings Channel.com reports. The fund owned 10,600 shares of the company’s stock after acquiring an additional 1,013 shares during the quarter. HighTower Advisors LLC’s holdings in Neurocrine Biosciences were worth $1,447,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in NBIX. Golden State Wealth Management LLC purchased a new position in Neurocrine Biosciences in the 4th quarter worth approximately $25,000. 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 worth $32,000 after purchasing an additional 115 shares during the last quarter. Lindbrook Capital LLC raised its holdings in Neurocrine Biosciences by 53.5% during the 4th quarter. Lindbrook Capital LLC now owns 373 shares of the company’s stock valued at $51,000 after buying an additional 130 shares during the last quarter. R Squared Ltd purchased a new stake in Neurocrine Biosciences during the 4th quarter valued at $61,000. Finally, UMB Bank n.a. grew its stake in shares of Neurocrine Biosciences by 211.6% in the fourth quarter. UMB Bank n.a. now owns 455 shares of the company’s stock worth $62,000 after purchasing an additional 309 shares during the last quarter. Institutional investors own 92.59% of the company’s stock.

Wall Street Analysts Forecast Growth

NBIX has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft started coverage on shares of Neurocrine Biosciences in a research report on Tuesday, February 11th. They issued a “hold” rating and a $138.00 target price for the company. Needham & Company LLC restated a “hold” rating on shares of Neurocrine Biosciences in a report on Friday, February 7th. Piper Sandler restated an “overweight” rating and set a $160.00 price objective on shares of Neurocrine Biosciences in a research note on Monday, December 23rd. Bank of America lowered 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. Finally, Barclays increased their price target on Neurocrine Biosciences from $160.00 to $165.00 and gave the company an “overweight” rating in a report on Monday, December 23rd. Five analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $165.24.

Insider Activity at Neurocrine Biosciences

In other Neurocrine Biosciences news, 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 transaction of $37,563.20. Following the transaction, the insider now owns 2,507 shares in the company, valued at approximately $346,216.70. This represents a 9.79 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Julie Cooke sold 1,740 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now directly owns 18,202 shares of the company’s stock, valued at approximately $2,782,903.78. This represents a 8.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 233,178 shares of company stock valued at $33,906,594 over the last quarter. 4.30% of the stock is owned by corporate insiders.

Neurocrine Biosciences Stock Performance

Shares of NASDAQ:NBIX opened at $115.60 on Tuesday. The firm’s 50 day simple moving average is $126.35 and its 200-day simple moving average is $125.13. Neurocrine Biosciences, Inc. has a one year low of $105.18 and a one year high of $157.98. The firm has a market cap of $11.53 billion, a PE ratio of 35.14, a price-to-earnings-growth ratio of 0.77 and a beta of 0.35.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly 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 return on equity of 13.38% and a net margin of 14.49%. Equities research analysts predict that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

Neurocrine Biosciences declared that its Board of Directors has authorized 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 reacquire up to 4.2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are 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.