Smartleaf Asset Management LLC Purchases 146 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Smartleaf Asset Management LLC increased its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 37.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 538 shares of the company’s stock after acquiring an additional 146 shares during the quarter. Smartleaf Asset Management LLC’s holdings in Neurocrine Biosciences were worth $74,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of NBIX. Assetmark Inc. increased its stake in shares of Neurocrine Biosciences by 10.6% in the third quarter. Assetmark Inc. now owns 18,323 shares of the company’s stock worth $2,111,000 after purchasing an additional 1,753 shares in the last quarter. 17 Capital Partners LLC boosted its holdings in Neurocrine Biosciences by 97.2% in the 3rd quarter. 17 Capital Partners LLC now owns 5,846 shares of the company’s stock valued at $674,000 after purchasing an additional 2,881 shares during the period. Covestor Ltd grew its position in shares of Neurocrine Biosciences by 11.5% during the 3rd quarter. Covestor Ltd now owns 1,779 shares of the company’s stock valued at $205,000 after purchasing an additional 183 shares in the last quarter. Sigma Planning Corp bought a new position in shares of Neurocrine Biosciences in the third quarter worth $230,000. Finally, Crossmark Global Holdings Inc. raised its position in shares of Neurocrine Biosciences by 16.5% in the third quarter. Crossmark Global Holdings Inc. now owns 8,487 shares of the company’s stock worth $978,000 after buying an additional 1,204 shares in the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Neurocrine Biosciences Price Performance

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 PE ratio of 34.36, a PEG ratio of 0.77 and a beta of 0.35. The business’s 50-day moving average is $132.47 and its 200 day moving average is $127.02.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings data 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%. As a group, equities research analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.

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

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Barclays upped 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. StockNews.com cut shares of Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 18th. Canaccord Genuity Group lowered their target price on shares of Neurocrine Biosciences from $172.00 to $163.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Neurocrine Biosciences in a research note on Tuesday, February 11th. They issued a “hold” rating and a $138.00 price target for the company. Finally, Piper Sandler reissued an “overweight” rating and issued a $160.00 price target on shares of Neurocrine Biosciences in a report on Monday, December 23rd. Five investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $165.24.

Insider Activity at Neurocrine Biosciences

In related news, CEO Kyle Gano sold 65,000 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $141.50, for a total value of $9,197,500.00. Following the completion of the transaction, the chief executive officer now directly owns 135,392 shares of the company’s stock, valued at $19,157,968. This represents a 32.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Matt Abernethy sold 1,283 shares of Neurocrine Biosciences stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $152.87, for a total value of $196,132.21. Following the sale, the chief financial officer now directly owns 32,681 shares in the company, valued at approximately $4,995,944.47. The trade was a 3.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 234,269 shares of company stock worth $34,053,879 over the last quarter. Corporate 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.