Metis Global Partners LLC Raises Holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Metis Global Partners LLC increased its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 4.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,548 shares of the company’s stock after buying an additional 104 shares during the quarter. Metis Global Partners LLC’s holdings in Neurocrine Biosciences were worth $348,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Golden State Wealth Management LLC purchased a new position in shares of Neurocrine Biosciences in the 4th quarter worth $25,000. Brooklyn Investment Group raised its position in Neurocrine Biosciences by 99.1% in the fourth quarter. Brooklyn Investment Group now owns 231 shares of the company’s stock valued at $32,000 after purchasing an additional 115 shares during the period. R Squared Ltd purchased a new position in Neurocrine Biosciences in the fourth quarter valued at about $61,000. UMB Bank n.a. raised its position in Neurocrine Biosciences by 211.6% in the fourth quarter. UMB Bank n.a. now owns 455 shares of the company’s stock valued at $62,000 after purchasing an additional 309 shares during the period. Finally, Truvestments Capital LLC purchased a new position in Neurocrine Biosciences in the third quarter valued at about $63,000. 92.59% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NBIX has been the topic of several research reports. Deutsche Bank Aktiengesellschaft initiated coverage on Neurocrine Biosciences in a research report on Tuesday, February 11th. They issued a “hold” rating and a $138.00 price objective on the stock. Canaccord Genuity Group cut their price objective on Neurocrine Biosciences from $172.00 to $163.00 and set a “buy” rating on the stock in a research report on Friday, February 7th. Morgan Stanley raised their price objective on Neurocrine Biosciences from $170.00 to $185.00 and gave the company an “overweight” rating in a research report on Tuesday, February 4th. Royal Bank of Canada cut their price objective on Neurocrine Biosciences from $154.00 to $148.00 and set a “sector perform” rating on the stock in a research report on Friday, February 7th. Finally, Piper Sandler reissued an “overweight” rating and issued a $160.00 price objective on shares of Neurocrine Biosciences in a research report on Monday, December 23rd. Five research 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $166.90.

Neurocrine Biosciences Stock Up 0.7 %

Shares of NBIX stock opened at $113.85 on Thursday. The company has a market cap of $11.35 billion, a P/E ratio of 34.60, a PEG ratio of 0.77 and a beta of 0.33. The business has a 50 day moving average of $133.53 and a two-hundred day moving average of $127.70. Neurocrine Biosciences, Inc. has a 52 week low of $110.25 and a 52 week high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings data on Thursday, February 6th. The company reported $1.00 earnings per share (EPS) 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%. Analysts expect that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

Neurocrine Biosciences declared that its Board of Directors has initiated a share buyback plan on Friday, February 21st that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 4.2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Insider Activity

In other Neurocrine Biosciences news, insider Julie Cooke sold 1,740 shares of Neurocrine Biosciences 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 sale, the insider now owns 18,202 shares of the company’s stock, valued at $2,782,903.78. The trade was a 8.73 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ingrid Delaet sold 1,091 shares of the stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $135.00, for a total value of $147,285.00. Following the completion of the transaction, the insider now directly owns 2,507 shares of the company’s stock, valued at approximately $338,445. The trade was a 30.32 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 234,269 shares of company stock valued at $34,053,879. 4.30% of the stock is currently owned by company insiders.

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.