Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Shares Bought by Utah Retirement Systems

Utah Retirement Systems grew its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 0.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 16,583 shares of the company’s stock after purchasing an additional 100 shares during the period. Utah Retirement Systems’ holdings in Neurocrine Biosciences were worth $2,264,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Golden State Wealth Management LLC acquired a new position in Neurocrine Biosciences during the 4th quarter valued at about $25,000. Huntington National Bank increased its stake in shares of Neurocrine Biosciences by 73.5% during the fourth quarter. Huntington National Bank now owns 229 shares of the company’s stock valued at $31,000 after acquiring an additional 97 shares during the period. Brooklyn Investment Group raised its holdings 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 purchasing an additional 115 shares in the last quarter. GeoWealth Management LLC lifted its position in Neurocrine Biosciences by 65.4% in the fourth quarter. GeoWealth Management LLC now owns 258 shares of the company’s stock worth $35,000 after purchasing an additional 102 shares during the period. Finally, Lindbrook Capital LLC boosted its stake in Neurocrine Biosciences by 53.5% during the 4th quarter. Lindbrook Capital LLC now owns 373 shares of the company’s stock valued at $51,000 after purchasing an additional 130 shares in the last quarter. 92.59% of the stock is owned by institutional investors and hedge funds.

Neurocrine Biosciences Trading Up 2.9 %

NBIX opened at $109.68 on Friday. The stock has a fifty day moving average price of $106.19 and a 200 day moving average price of $121.84. Neurocrine Biosciences, Inc. has a 1 year low of $84.23 and a 1 year high of $157.98. The stock has a market cap of $10.85 billion, a price-to-earnings ratio of 33.34, a PEG ratio of 0.77 and a beta of 0.33.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings results on Thursday, February 6th. The company reported $1.00 EPS 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 buyback plan on Friday, February 21st that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 4.2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at Neurocrine Biosciences

In other news, insider Julie Cooke sold 700 shares of the company’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $118.28, for a total transaction of $82,796.00. Following the completion of the sale, the insider now owns 18,831 shares in the company, valued at approximately $2,227,330.68. This represents a 3.58 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Ingrid Delaet sold 623 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $149.29, for a total value of $93,007.67. Following the completion of the transaction, the insider now directly owns 3,442 shares in the company, valued at $513,856.18. The trade was a 15.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 14,530 shares of company stock worth $1,722,989 in the last 90 days. 4.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

NBIX has been the subject of several research analyst reports. UBS Group cut their price objective on Neurocrine Biosciences from $154.00 to $137.00 and set a “buy” rating for the company in a report on Friday, April 4th. JPMorgan Chase & Co. raised their price objective on shares of Neurocrine Biosciences from $183.00 to $184.00 and gave the company an “overweight” rating in a research report on Wednesday, March 26th. Morgan Stanley reiterated an “overweight” rating and issued a $150.00 target price (down from $185.00) on shares of Neurocrine Biosciences in a report on Friday, March 7th. Deutsche Bank Aktiengesellschaft started coverage on shares of Neurocrine Biosciences in a report on Tuesday, February 11th. They set a “hold” rating and a $138.00 target price for the company. Finally, StockNews.com cut Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 20th. Three equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $160.90.

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.