Envestnet Portfolio Solutions Inc. Purchases 278 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Envestnet Portfolio Solutions Inc. boosted its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 10.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,868 shares of the company’s stock after acquiring an additional 278 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Neurocrine Biosciences were worth $391,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Caprock Group LLC acquired a new position in shares of Neurocrine Biosciences during the 4th quarter worth about $236,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Neurocrine Biosciences by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 762,557 shares of the company’s stock worth $104,089,000 after buying an additional 15,266 shares during the last quarter. Tri Ri Asset Management Corp bought a new stake in shares of Neurocrine Biosciences in the third quarter valued at approximately $3,236,000. Oakworth Capital Inc. acquired a new stake in shares of Neurocrine Biosciences in the fourth quarter worth $379,000. Finally, Synergy Asset Management LLC acquired a new stake in shares of Neurocrine Biosciences in the fourth quarter worth $996,000. 92.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have commented on NBIX shares. HC Wainwright reiterated a “buy” rating and issued a $185.00 price objective on shares of Neurocrine Biosciences in a research report on Friday, February 21st. Piper Sandler reiterated an “overweight” rating and set a $160.00 price target on shares of Neurocrine Biosciences in a research note on Monday, December 23rd. Needham & Company LLC restated a “hold” rating on shares of Neurocrine Biosciences in a research note on Friday, February 7th. Bank of America decreased their target price on shares of Neurocrine Biosciences from $184.00 to $179.00 and set a “buy” rating on the stock in a research report on Friday, February 7th. Finally, UBS Group raised their price target on shares of Neurocrine Biosciences from $162.00 to $176.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Five investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $165.38.

Insider Buying and Selling at Neurocrine Biosciences

In related news, Director Kevin Charles Gorman sold 2,707 shares of the stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $152.92, for a total value of $413,954.44. Following the transaction, the director now directly owns 517,030 shares in the company, valued at $79,064,227.60. This represents a 0.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Matt Abernethy sold 2,558 shares of Neurocrine Biosciences stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $116.86, for a total transaction of $298,927.88. Following the sale, the chief financial officer now directly owns 34,775 shares of the company’s stock, valued at $4,063,806.50. This represents a 6.85 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 233,178 shares of company stock worth $33,906,594. Company insiders own 4.30% of the company’s stock.

Neurocrine Biosciences Price Performance

Shares of Neurocrine Biosciences stock opened at $114.45 on Thursday. The firm has a 50 day simple moving average of $125.33 and a 200 day simple moving average of $125.02. Neurocrine Biosciences, Inc. has a fifty-two week low of $105.18 and a fifty-two week high of $157.98. The firm has a market cap of $11.41 billion, a P/E ratio of 34.79, a P/E/G ratio of 0.77 and a beta of 0.35.

Neurocrine Biosciences (NASDAQ:NBIX) last released its earnings results on Thursday, February 6th. The company reported $1.00 earnings per share 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, sell-side analysts expect that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

Neurocrine Biosciences declared that its Board of Directors has initiated a share buyback program on Friday, February 21st that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 4.2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are 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.