Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Shares Bought by Corient Private Wealth LLC

Corient Private Wealth LLC grew its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 64.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,927 shares of the company’s stock after purchasing an additional 3,094 shares during the quarter. Corient Private Wealth LLC’s holdings in Neurocrine Biosciences were worth $1,082,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Commerce Bank lifted its holdings in Neurocrine Biosciences by 2.6% during the 3rd quarter. Commerce Bank now owns 4,199 shares of the company’s stock worth $484,000 after buying an additional 108 shares during the last quarter. Cerity Partners LLC lifted its stake in Neurocrine Biosciences by 42.4% during the third quarter. Cerity Partners LLC now owns 39,024 shares of the company’s stock worth $4,496,000 after purchasing an additional 11,622 shares during the last quarter. Algert Global LLC acquired a new position in Neurocrine Biosciences in the third quarter worth $2,116,000. Daiwa Securities Group Inc. increased its stake in Neurocrine Biosciences by 34.1% during the third quarter. Daiwa Securities Group Inc. now owns 11,798 shares of the company’s stock valued at $1,360,000 after purchasing an additional 2,997 shares during the last quarter. Finally, Fisher Asset Management LLC raised its holdings in shares of Neurocrine Biosciences by 7.8% during the third quarter. Fisher Asset Management LLC now owns 68,270 shares of the company’s stock worth $7,866,000 after purchasing an additional 4,930 shares during the period. Institutional investors own 92.59% of the company’s stock.

Insider Activity at Neurocrine Biosciences

In other news, Director Kevin Charles Gorman sold 5,844 shares of the business’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $116.69, for a total transaction of $681,936.36. Following the sale, the director now directly owns 521,618 shares of the company’s stock, valued at $60,867,604.42. The trade was a 1.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Julie Cooke sold 1,551 shares of the stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $116.78, for a total value of $181,125.78. Following the completion of the transaction, the insider now owns 19,544 shares of the company’s stock, valued at $2,282,348.32. This trade represents a 7.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 233,178 shares of company stock valued at $33,906,594 over the last ninety days. Insiders own 4.30% of the company’s stock.

Neurocrine Biosciences Stock Performance

NBIX opened at $114.45 on Thursday. The company has a market capitalization of $11.41 billion, a PE ratio of 34.79, a P/E/G ratio of 0.77 and a beta of 0.35. The stock’s fifty day moving average is $125.33 and its 200-day moving average is $125.02. Neurocrine Biosciences, Inc. has a one year low of $105.18 and a one year high of $157.98.

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

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

Analysts Set New Price Targets

A number of brokerages recently weighed in on NBIX. JPMorgan Chase & Co. boosted their price objective on shares of Neurocrine Biosciences from $183.00 to $184.00 and gave the company an “overweight” rating in a research report on Wednesday. StockNews.com lowered Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 20th. Guggenheim cut their price target on Neurocrine Biosciences from $165.00 to $163.00 and set a “buy” rating on the stock in a report on Monday, February 10th. Needham & Company LLC restated a “hold” rating on shares of Neurocrine Biosciences in a research note on Friday, February 7th. Finally, 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 target price on the stock. Five investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Neurocrine Biosciences currently has an average rating of “Moderate Buy” and a consensus target price of $165.38.

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.