Tema Etfs LLC Invests $525,000 in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Tema Etfs LLC bought a new position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 3,846 shares of the company’s stock, valued at approximately $525,000.

A number of other institutional investors have also modified their holdings of NBIX. Golden State Wealth Management LLC acquired a new position in Neurocrine Biosciences during the 4th quarter worth approximately $25,000. Huntington National Bank lifted its position in Neurocrine Biosciences by 73.5% during the 4th quarter. Huntington National Bank now owns 229 shares of the company’s stock worth $31,000 after acquiring an additional 97 shares in the last quarter. Brooklyn Investment Group lifted its position in Neurocrine Biosciences by 99.1% during the 4th quarter. Brooklyn Investment Group now owns 231 shares of the company’s stock worth $32,000 after acquiring an additional 115 shares in the last quarter. GeoWealth Management LLC lifted its position in Neurocrine Biosciences by 65.4% during the 4th quarter. GeoWealth Management LLC now owns 258 shares of the company’s stock worth $35,000 after acquiring an additional 102 shares in the last quarter. Finally, Lindbrook Capital LLC lifted its position in Neurocrine Biosciences by 53.5% during the 4th quarter. Lindbrook Capital LLC now owns 373 shares of the company’s stock worth $51,000 after acquiring an additional 130 shares in the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Insider Buying and Selling

In other news, Director William H. Rastetter sold 30,000 shares of the stock in a transaction on Monday, May 5th. The stock was sold at an average price of $110.20, for a total value of $3,306,000.00. Following the completion of the transaction, the director now owns 37,491 shares of the company’s stock, valued at approximately $4,131,508.20. This represents a 44.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 4.80% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on NBIX. Morgan Stanley reissued an “overweight” rating and set a $150.00 price target (down from $185.00) on shares of Neurocrine Biosciences in a research report on Friday, March 7th. Guggenheim boosted their price target on Neurocrine Biosciences from $155.00 to $165.00 and gave the stock a “buy” rating in a research report on Tuesday, May 6th. William Blair reaffirmed an “outperform” rating on shares of Neurocrine Biosciences in a research report on Friday, February 7th. Bank of America cut their target price on Neurocrine Biosciences from $184.00 to $179.00 and set a “buy” rating on the stock in a research report on Friday, February 7th. Finally, BMO Capital Markets upped their target price on Neurocrine Biosciences from $96.00 to $115.00 and gave the company a “market perform” rating in a research report on Tuesday, May 6th. Three equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $162.00.

Neurocrine Biosciences Price Performance

Shares of NBIX opened at $121.02 on Friday. The company has a market cap of $11.98 billion, a P/E ratio of 36.78, a PEG ratio of 0.77 and a beta of 0.26. The stock has a fifty day moving average price of $107.02 and a 200 day moving average price of $121.91. Neurocrine Biosciences, Inc. has a 12 month low of $84.23 and a 12 month high of $157.98.

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

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

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.