Kennedy Capital Management LLC Grows Stock Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Kennedy Capital Management LLC boosted its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 16.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 36,112 shares of the company’s stock after buying an additional 5,093 shares during the quarter. Kennedy Capital Management LLC’s holdings in Neurocrine Biosciences were worth $4,929,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Caprock Group LLC acquired a new stake in shares of Neurocrine Biosciences during the fourth quarter worth $236,000. Charles Schwab Investment Management Inc. boosted its holdings in Neurocrine Biosciences by 2.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 762,557 shares of the company’s stock worth $104,089,000 after acquiring an additional 15,266 shares during the period. Tri Ri Asset Management Corp purchased a new position in shares of Neurocrine Biosciences in the third quarter valued at $3,236,000. Oakworth Capital Inc. acquired a new stake in shares of Neurocrine Biosciences during the fourth quarter valued at about $379,000. Finally, Synergy Asset Management LLC acquired a new stake in Neurocrine Biosciences during the 4th quarter valued at approximately $996,000. Institutional investors and hedge funds own 92.59% of the company’s stock.

Neurocrine Biosciences Stock Performance

NASDAQ:NBIX opened at $90.87 on Friday. The company has a market capitalization of $9.06 billion, a P/E ratio of 27.62, a P/E/G ratio of 0.77 and a beta of 0.33. The stock’s 50 day moving average price is $111.68 and its 200 day moving average price is $123.01. Neurocrine Biosciences, Inc. has a 52 week low of $84.23 and a 52 week high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX) last posted 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%. As a group, sell-side analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

Neurocrine Biosciences declared that its board has approved a share repurchase program on Friday, February 21st that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to repurchase up to 4.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other news, Director Kevin Charles Gorman sold 146,105 shares of the company’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 transaction of $21,836,853.30. Following the completion of the transaction, the director now directly owns 514,596 shares in the company, valued at $76,911,518.16. The trade was a 22.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ingrid Delaet sold 623 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $149.29, for a total transaction of $93,007.67. Following the completion of the sale, the insider now directly owns 3,442 shares of the company’s stock, valued at approximately $513,856.18. This trade represents a 15.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 232,906 shares of company stock valued at $33,869,030. Company insiders own 4.30% of the company’s stock.

Analyst Upgrades and Downgrades

NBIX has been the subject of several recent analyst reports. Needham & Company LLC reissued a “hold” rating on shares of Neurocrine Biosciences in a report on Friday, February 7th. Royal Bank of Canada lowered their price objective on Neurocrine Biosciences from $154.00 to $148.00 and set a “sector perform” rating for the company in a research note on Friday, February 7th. William Blair restated an “outperform” rating on shares of Neurocrine Biosciences in a research note on Friday, February 7th. JPMorgan Chase & Co. raised their price target on Neurocrine Biosciences from $183.00 to $184.00 and gave the company an “overweight” rating in a report on Wednesday, March 26th. Finally, HC Wainwright reissued a “buy” rating and set a $185.00 target price on shares of Neurocrine Biosciences in a report on Friday, February 21st. Five research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Neurocrine Biosciences has an average rating of “Moderate Buy” and a consensus target price of $163.52.

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.