Vanguard Group Inc. Has $1.38 Billion Holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Vanguard Group Inc. lifted its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 1.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,119,641 shares of the company’s stock after acquiring an additional 122,681 shares during the period. Vanguard Group Inc. owned approximately 9.99% of Neurocrine Biosciences worth $1,381,331,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Golden State Wealth Management LLC acquired a new stake in Neurocrine Biosciences in the 4th quarter worth $25,000. Brooklyn Investment Group grew its position in Neurocrine Biosciences by 99.1% during the fourth quarter. Brooklyn Investment Group now owns 231 shares of the company’s stock worth $32,000 after buying an additional 115 shares in the last quarter. Lindbrook Capital LLC increased its stake in Neurocrine Biosciences by 53.5% during the fourth quarter. Lindbrook Capital LLC now owns 373 shares of the company’s stock valued at $51,000 after acquiring an additional 130 shares during the period. R Squared Ltd acquired a new position in Neurocrine Biosciences in the 4th quarter valued at approximately $61,000. Finally, UMB Bank n.a. lifted its position in shares of Neurocrine Biosciences by 211.6% in the 4th quarter. UMB Bank n.a. now owns 455 shares of the company’s stock worth $62,000 after acquiring an additional 309 shares during the period. Institutional investors own 92.59% of the company’s stock.

Insider Activity at Neurocrine Biosciences

In related news, Director Kevin Charles Gorman sold 146,105 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $149.46, for a total value of $21,836,853.30. Following the completion of the transaction, the director now directly owns 514,596 shares in the company, valued at approximately $76,911,518.16. The trade was a 22.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Julie Cooke sold 1,551 shares of Neurocrine Biosciences stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $116.78, for a total transaction of $181,125.78. Following the completion of the transaction, the insider now directly owns 19,544 shares in the company, valued at approximately $2,282,348.32. The trade was 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 worth $33,906,594 in the last quarter. Corporate insiders own 4.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. 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. Piper Sandler reaffirmed an “overweight” rating and set a $160.00 price objective on shares of Neurocrine Biosciences in a report on Monday, December 23rd. Canaccord Genuity Group lowered their target price on shares of Neurocrine Biosciences from $172.00 to $163.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. Needham & Company LLC restated a “hold” rating on shares of Neurocrine Biosciences in a research note on Friday, February 7th. Finally, Wedbush lowered their price objective on Neurocrine Biosciences from $157.00 to $147.00 and set an “outperform” rating on the stock in a research note on Friday, February 7th. Five research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $165.38.

Neurocrine Biosciences Trading Down 0.4 %

NASDAQ:NBIX opened at $114.00 on Friday. Neurocrine Biosciences, Inc. has a 1-year low of $105.18 and a 1-year high of $157.98. The firm has a market capitalization of $11.37 billion, a price-to-earnings ratio of 34.65, a PEG ratio of 0.77 and a beta of 0.35. The business’s 50-day moving average price is $124.77 and its two-hundred day moving average price is $124.95.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings data 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%. Sell-side analysts predict that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.

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