Thrivent Financial for Lutherans Purchases 711,970 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Thrivent Financial for Lutherans lifted its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 2,759.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 737,772 shares of the company’s stock after buying an additional 711,970 shares during the quarter. Thrivent Financial for Lutherans owned about 0.73% of Neurocrine Biosciences worth $100,705,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. State Street Corp lifted its holdings in Neurocrine Biosciences by 11.7% during the 3rd 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 last quarter. Geode Capital Management LLC lifted its holdings in Neurocrine Biosciences by 2.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,859,232 shares of the company’s stock valued at $213,773,000 after purchasing an additional 39,610 shares during the last quarter. Braidwell LP lifted its holdings in Neurocrine Biosciences by 20.9% during the 3rd quarter. Braidwell LP now owns 917,674 shares of the company’s stock valued at $105,734,000 after purchasing an additional 158,665 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Neurocrine Biosciences by 1.4% during the 4th quarter. Bank of New York Mellon Corp now owns 870,290 shares of the company’s stock valued at $118,795,000 after purchasing an additional 12,040 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Neurocrine Biosciences during the fourth quarter worth $115,193,000. Institutional investors and hedge funds own 92.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. StockNews.com raised Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a report on Wednesday, March 12th. Guggenheim dropped their target price on Neurocrine Biosciences from $165.00 to $163.00 and set a “buy” rating for the company in a report on Monday, February 10th. Canaccord Genuity Group dropped their target price on Neurocrine Biosciences from $172.00 to $163.00 and set a “buy” rating for the company in a report on Friday, February 7th. Barclays lifted their target price on Neurocrine Biosciences from $160.00 to $165.00 and gave the stock an “overweight” rating in a report on Monday, December 23rd. Finally, Needham & Company LLC reissued a “hold” rating on shares of Neurocrine Biosciences in a report on Friday, February 7th. Five analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Neurocrine Biosciences presently has an average rating of “Moderate Buy” and a consensus target price of $165.24.

Neurocrine Biosciences Stock Down 1.6 %

Neurocrine Biosciences stock opened at $109.70 on Wednesday. Neurocrine Biosciences, Inc. has a 12-month low of $105.18 and a 12-month high of $157.98. The business’s 50-day moving average price is $128.62 and its two-hundred day moving average price is $125.47. The stock has a market cap of $10.94 billion, a PE ratio of 33.34, a P/E/G ratio of 0.77 and a beta of 0.35.

Neurocrine Biosciences (NASDAQ:NBIX) last released its earnings results on Thursday, February 6th. The company reported $1.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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, analysts expect that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.

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

Insider Transactions at Neurocrine Biosciences

In other news, insider Ingrid Delaet sold 272 shares of the business’s stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $138.10, for a total transaction of $37,563.20. Following the sale, the insider now directly owns 2,507 shares in the company, valued at approximately $346,216.70. The trade was a 9.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Matt Abernethy sold 1,283 shares of the business’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $152.87, for a total value of $196,132.21. Following the sale, the chief financial officer now owns 32,681 shares in the company, valued at approximately $4,995,944.47. This trade represents a 3.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 233,178 shares of company stock worth $33,906,594. Insiders own 4.30% of the company’s stock.

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.