Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Shares Purchased by Principal Securities Inc.

Principal Securities Inc. increased its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 24.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,382 shares of the company’s stock after acquiring an additional 270 shares during the quarter. Principal Securities Inc.’s holdings in Neurocrine Biosciences were worth $189,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in NBIX. Golden State Wealth Management LLC purchased a new position in shares of Neurocrine Biosciences in the fourth quarter valued at approximately $25,000. Brooklyn Investment Group lifted its holdings in Neurocrine Biosciences by 99.1% in the 4th quarter. Brooklyn Investment Group now owns 231 shares of the company’s stock valued at $32,000 after purchasing an additional 115 shares in the last quarter. Blue Trust Inc. lifted its holdings in Neurocrine Biosciences by 171.9% in the 3rd quarter. Blue Trust Inc. now owns 348 shares of the company’s stock valued at $40,000 after purchasing an additional 220 shares in the last quarter. R Squared Ltd purchased a new stake in shares of Neurocrine Biosciences during the fourth quarter worth $61,000. Finally, UMB Bank n.a. raised its position in shares of Neurocrine Biosciences by 211.6% in the fourth quarter. UMB Bank n.a. now owns 455 shares of the company’s stock valued at $62,000 after buying an additional 309 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Neurocrine Biosciences news, CFO Matt Abernethy sold 1,283 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $152.87, for a total value of $196,132.21. Following the completion of the transaction, the chief financial officer now directly owns 32,681 shares of the company’s stock, valued at $4,995,944.47. This represents a 3.78 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Kevin Charles Gorman sold 5,844 shares of Neurocrine Biosciences stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $116.69, for a total value of $681,936.36. Following the sale, the director now directly owns 521,618 shares in the company, valued at approximately $60,867,604.42. The trade was a 1.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 236,600 shares of company stock worth $34,348,261. 4.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on NBIX. Piper Sandler reissued an “overweight” rating and issued a $160.00 target price on shares of Neurocrine Biosciences in a research note on Monday, December 23rd. Bank of America lowered their price objective on Neurocrine Biosciences from $184.00 to $179.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. Barclays raised their target price on Neurocrine Biosciences from $160.00 to $165.00 and gave the stock an “overweight” rating in a research note on Monday, December 23rd. Canaccord Genuity Group lowered their price target on shares of Neurocrine Biosciences from $172.00 to $163.00 and set a “buy” rating on the stock in a research report on Friday, February 7th. Finally, William Blair restated an “outperform” rating on shares of Neurocrine Biosciences in a research report on Friday, February 7th. Five research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong 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 $166.90.

Neurocrine Biosciences Stock Down 1.3 %

NBIX opened at $119.11 on Tuesday. Neurocrine Biosciences, Inc. has a 52-week low of $110.95 and a 52-week high of $157.98. The company has a 50 day moving average of $136.35 and a two-hundred day moving average of $129.11. The company has a market cap of $11.88 billion, a P/E ratio of 36.20, a P/E/G 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 earnings per share 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%. Research analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.

Neurocrine Biosciences announced that its board has initiated a stock repurchase program on Friday, February 21st that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 4.2% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its shares are 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.