By otakuyassine3@gmail.com 
Charles Schwab Investment Management Inc. raised its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX – Free Report) by 2.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 762,557 shares of the company’s stock after acquiring an additional 15,266 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.75% of Neurocrine Biosciences worth $104,089,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Mission Wealth Management LP acquired a new stake in Neurocrine Biosciences in the fourth quarter valued at $247,000. Grandfield & Dodd LLC raised its stake in shares of Neurocrine Biosciences by 1.8% during the 4th quarter. Grandfield & Dodd LLC now owns 16,111 shares of the company’s stock worth $2,199,000 after buying an additional 290 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in shares of Neurocrine Biosciences by 37.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 538 shares of the company’s stock worth $74,000 after buying an additional 146 shares during the last quarter. Metis Global Partners LLC raised its stake in shares of Neurocrine Biosciences by 4.3% during the 4th quarter. Metis Global Partners LLC now owns 2,548 shares of the company’s stock worth $348,000 after buying an additional 104 shares during the last quarter. Finally, US Bancorp DE raised its stake in shares of Neurocrine Biosciences by 8.0% during the 4th quarter. US Bancorp DE now owns 4,175 shares of the company’s stock worth $570,000 after buying an additional 311 shares during the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.
Insiders Place Their Bets
In other Neurocrine Biosciences news, insider Ingrid Delaet sold 272 shares of the company’s stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $138.10, for a total value of $37,563.20. Following the completion of the transaction, the insider now owns 2,507 shares in the company, valued at $346,216.70. This represents a 9.79 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Matt Abernethy sold 2,558 shares of the company’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 value of $298,927.88. Following the completion of the transaction, the chief financial officer now owns 34,775 shares of the company’s stock, valued at approximately $4,063,806.50. This represents a 6.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 234,269 shares of company stock worth $34,053,879 in the last 90 days. 4.30% of the stock is owned by company insiders.
Analysts Set New Price Targets
Several research firms have recently issued reports on NBIX. Morgan Stanley reaffirmed an “overweight” rating and set a $150.00 price target (down previously from $185.00) on shares of Neurocrine Biosciences in a research note on Friday. Needham & Company LLC reaffirmed a “hold” rating on shares of Neurocrine Biosciences in a research note on Friday, February 7th. StockNews.com downgraded Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 18th. Royal Bank of Canada cut their price target 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. Finally, HC Wainwright reissued a “buy” rating and issued a $185.00 target price on shares of Neurocrine Biosciences in a research note on Friday, February 21st. Five equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $165.24.
Read Our Latest Stock Report on NBIX
Neurocrine Biosciences Stock Performance
Shares of NASDAQ:NBIX opened at $113.04 on Monday. Neurocrine Biosciences, Inc. has a 1 year low of $110.25 and a 1 year high of $157.98. The stock has a market capitalization of $11.27 billion, a P/E ratio of 34.36, a PEG ratio of 0.77 and a beta of 0.35. The stock has a 50-day simple moving average of $132.47 and a 200-day simple moving average of $127.02.
Neurocrine Biosciences (NASDAQ:NBIX – Get Free Report) last issued 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 return on equity of 13.38% and a net margin of 14.49%. Analysts predict that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.
Neurocrine Biosciences declared that its Board of Directors has initiated a share buyback plan on Friday, February 21st that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 4.2% of its shares through open market purchases. Shares repurchase plans 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.
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