Focus Partners Wealth Purchases 4,420 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Focus Partners Wealth boosted its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 9.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 51,078 shares of the company’s stock after acquiring an additional 4,420 shares during the quarter. Focus Partners Wealth owned 0.05% of Neurocrine Biosciences worth $6,972,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Golden State Wealth Management LLC bought a new position in Neurocrine Biosciences in the fourth quarter valued at approximately $25,000. Huntington National Bank increased its stake in Neurocrine Biosciences by 73.5% in 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 last quarter. Brooklyn Investment Group increased its stake in Neurocrine Biosciences by 99.1% in the fourth quarter. Brooklyn Investment Group now owns 231 shares of the company’s stock valued at $32,000 after acquiring an additional 115 shares during the last quarter. GeoWealth Management LLC increased its stake in Neurocrine Biosciences by 65.4% in the fourth quarter. GeoWealth Management LLC now owns 258 shares of the company’s stock valued at $35,000 after acquiring an additional 102 shares during the last quarter. Finally, Lindbrook Capital LLC increased its stake in Neurocrine Biosciences by 53.5% in 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 last quarter. 92.59% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

NBIX has been the topic of a number of recent analyst reports. Guggenheim lifted their price objective on shares of Neurocrine Biosciences from $155.00 to $165.00 and gave the company a “buy” rating in a research note on Tuesday, May 6th. Bank of America cut their target price 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. Needham & Company LLC raised their target price on shares of Neurocrine Biosciences from $138.00 to $139.00 and gave the company a “buy” rating in a research report on Tuesday, May 6th. JPMorgan Chase & Co. raised their target price 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. Finally, Morgan Stanley restated an “overweight” rating and issued a $150.00 target price (down previously from $185.00) on shares of Neurocrine Biosciences in a research report on Friday, March 7th. Three investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $162.00.

Insider Activity at Neurocrine Biosciences

In other news, insider Julie Cooke sold 1,551 shares of the firm’s 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 sale, the insider now owns 19,544 shares of the company’s stock, valued at $2,282,348.32. This trade represents a 7.35% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Matt Abernethy sold 2,558 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $116.86, for a total transaction of $298,927.88. Following the sale, the chief financial officer now directly owns 34,775 shares of the company’s stock, valued at approximately $4,063,806.50. This trade represents a 6.85% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 39,953 shares of company stock worth $4,467,990 over the last quarter. Company insiders own 4.80% of the company’s stock.

Neurocrine Biosciences Stock Performance

Shares of NASDAQ:NBIX opened at $116.87 on Wednesday. The firm has a market cap of $11.57 billion, a PE ratio of 35.52, a price-to-earnings-growth ratio of 0.77 and a beta of 0.26. The firm’s fifty day moving average is $106.44 and its 200-day moving average is $121.89. Neurocrine Biosciences, Inc. has a 52 week low of $84.23 and a 52 week high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX) last released its earnings results on Monday, May 5th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.62). The firm had revenue of $572.60 million during the quarter, compared to analyst estimates of $587.06 million. Neurocrine Biosciences had a net margin of 14.49% and a return on equity of 13.38%. Neurocrine Biosciences’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.20 EPS. Sell-side analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

Neurocrine Biosciences announced that its Board of Directors has approved a stock repurchase program on Friday, February 21st that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to buy up to 4.2% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

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.