Wellington Management Group LLP Raises Holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Wellington Management Group LLP grew its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 102.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,457,425 shares of the company’s stock after purchasing an additional 739,199 shares during the period. Wellington Management Group LLP owned about 1.46% of Neurocrine Biosciences worth $198,939,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NBIX. Vanguard Group Inc. lifted its stake in Neurocrine Biosciences by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 10,119,641 shares of the company’s stock valued at $1,381,331,000 after acquiring an additional 122,681 shares during the period. State Street Corp lifted its position in Neurocrine Biosciences by 11.7% during the third quarter. State Street Corp now owns 5,148,293 shares of the company’s stock valued at $593,186,000 after purchasing an additional 539,936 shares during the period. Geode Capital Management LLC boosted its holdings in Neurocrine Biosciences by 2.2% in the third quarter. Geode Capital Management LLC now owns 1,859,232 shares of the company’s stock worth $213,773,000 after purchasing an additional 39,610 shares during the last quarter. Bank of New York Mellon Corp grew its position in Neurocrine Biosciences by 1.4% in the 4th quarter. Bank of New York Mellon Corp now owns 870,290 shares of the company’s stock worth $118,795,000 after purchasing an additional 12,040 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in Neurocrine Biosciences during the 4th quarter valued at $115,193,000. 92.59% of the stock is owned by institutional investors.

Insider Transactions at Neurocrine Biosciences

In related news, insider Ingrid Delaet sold 623 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $149.29, for a total value of $93,007.67. Following the transaction, the insider now owns 3,442 shares of the company’s stock, valued at $513,856.18. This trade represents a 15.33 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Kevin Charles Gorman sold 5,844 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now directly owns 521,618 shares in the company, valued at approximately $60,867,604.42. This trade represents a 1.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 232,906 shares of company stock worth $33,869,030. 4.30% of the stock is currently owned by insiders.

Neurocrine Biosciences Stock Up 1.2 %

Shares of NASDAQ:NBIX opened at $108.31 on Thursday. The firm has a fifty day simple moving average of $121.97 and a two-hundred day simple moving average of $124.66. The stock has a market capitalization of $10.80 billion, a P/E ratio of 32.92, a PEG ratio of 0.77 and a beta of 0.35. Neurocrine Biosciences, Inc. has a 52 week low of $105.18 and a 52 week high of $157.98.

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 the consensus estimate 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, analysts expect that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.

Neurocrine Biosciences announced that its Board of Directors has authorized a stock buyback program on Friday, February 21st that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to purchase up to 4.2% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several analysts recently commented on NBIX shares. Royal Bank of Canada cut their price objective on Neurocrine Biosciences from $154.00 to $148.00 and set a “sector perform” rating for the company in a report on Friday, February 7th. Wedbush reduced their price target on shares of Neurocrine Biosciences from $157.00 to $147.00 and set an “outperform” rating for the company in a research report on Friday, February 7th. UBS Group raised their price objective on shares of Neurocrine Biosciences from $162.00 to $176.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. HC Wainwright reaffirmed a “buy” rating and set a $185.00 target price on shares of Neurocrine Biosciences in a report on Friday, February 21st. Finally, Bank of America decreased their price target 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. Five equities research 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’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $165.38.

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.