Physician Wealth Advisors Inc. Makes New Investment in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Physician Wealth Advisors Inc. purchased a new stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 483 shares of the company’s stock, valued at approximately $66,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Allstate Corp purchased a new position in Neurocrine Biosciences in the 4th quarter valued at approximately $397,000. DnB Asset Management AS grew its holdings in Neurocrine Biosciences by 3.1% in the fourth quarter. DnB Asset Management AS now owns 118,227 shares of the company’s stock valued at $16,138,000 after purchasing an additional 3,500 shares during the last quarter. denkapparat Operations GmbH purchased a new position in shares of Neurocrine Biosciences in the fourth quarter valued at $285,000. New Age Alpha Advisors LLC acquired a new position in shares of Neurocrine Biosciences during the 4th quarter worth $3,053,000. Finally, Norges Bank purchased a new stake in shares of Neurocrine Biosciences in the 4th quarter worth about $44,403,000. Institutional investors and hedge funds own 92.59% of the company’s stock.

Neurocrine Biosciences Price Performance

NASDAQ NBIX opened at $110.60 on Tuesday. The company has a market capitalization of $11.03 billion, a price-to-earnings ratio of 33.62, a price-to-earnings-growth ratio of 0.77 and a beta of 0.35. Neurocrine Biosciences, Inc. has a 12 month low of $105.18 and a 12 month high of $157.98. The company’s fifty day moving average price is $123.51 and its two-hundred day moving average price is $124.89.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings results on Thursday, February 6th. The company reported $1.00 EPS 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%. As a group, analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

Neurocrine Biosciences declared that its board has approved a stock buyback plan on Friday, February 21st that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to purchase up to 4.2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

NBIX has been the subject of a number of research reports. Royal Bank of Canada cut their target price on shares of Neurocrine Biosciences from $154.00 to $148.00 and set a “sector perform” rating for the company in a research report on Friday, February 7th. Barclays upped their target price on Neurocrine Biosciences from $160.00 to $165.00 and gave the company an “overweight” rating in a research note on Monday, December 23rd. UBS Group raised their price target on Neurocrine Biosciences from $162.00 to $176.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Piper Sandler reissued an “overweight” rating and issued a $160.00 price target on shares of Neurocrine Biosciences in a report on Monday, December 23rd. Finally, Bank of America decreased their price objective on Neurocrine Biosciences from $184.00 to $179.00 and set a “buy” 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 given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Neurocrine Biosciences currently has a consensus rating of “Moderate Buy” and an average price target of $165.38.

Insider Activity

In other news, Director Kevin Charles Gorman sold 146,105 shares of Neurocrine Biosciences stock in a transaction dated Monday, January 27th. The shares were 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 of the company’s stock, valued at approximately $76,911,518.16. The trade was a 22.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Ingrid Delaet sold 623 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $149.29, for a total transaction of $93,007.67. Following the sale, the insider now directly owns 3,442 shares of the company’s stock, valued at approximately $513,856.18. This represents a 15.33 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 232,906 shares of company stock worth $33,869,030. 4.30% of the stock is currently owned by insiders.

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.