US Bancorp DE Increases Stock Holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

US Bancorp DE increased its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 8.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,175 shares of the company’s stock after acquiring an additional 311 shares during the quarter. US Bancorp DE’s holdings in Neurocrine Biosciences were worth $570,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. State Street Corp raised its position in shares of Neurocrine Biosciences by 11.7% in the 3rd quarter. State Street Corp now owns 5,148,293 shares of the company’s stock worth $593,186,000 after purchasing an additional 539,936 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Neurocrine Biosciences by 2.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,859,232 shares of the company’s stock worth $213,773,000 after purchasing an additional 39,610 shares during the last quarter. Braidwell LP raised its position in shares of Neurocrine Biosciences by 20.9% in the 3rd quarter. Braidwell LP now owns 917,674 shares of the company’s stock worth $105,734,000 after purchasing an additional 158,665 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Neurocrine Biosciences by 1.4% in the 4th quarter. Bank of New York Mellon Corp now owns 870,290 shares of the company’s stock worth $118,795,000 after purchasing an additional 12,040 shares during the last quarter. Finally, Jennison Associates LLC raised its position in shares of Neurocrine Biosciences by 145.1% in the 4th quarter. Jennison Associates LLC now owns 820,694 shares of the company’s stock worth $112,025,000 after purchasing an additional 485,894 shares during the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on NBIX. Wedbush reduced their price objective on Neurocrine Biosciences from $157.00 to $147.00 and set an “outperform” rating for the company in a report on Friday, February 7th. Piper Sandler reiterated an “overweight” rating and issued a $160.00 price objective on shares of Neurocrine Biosciences in a report on Monday, December 23rd. Bank of America reduced their price objective on Neurocrine Biosciences from $184.00 to $179.00 and set a “buy” rating for the company in a report on Friday, February 7th. UBS Group lifted their price objective on Neurocrine Biosciences from $162.00 to $176.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Neurocrine Biosciences in a report on Tuesday, February 11th. They issued a “hold” rating and a $138.00 price objective for the company. Five 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 company presently has a consensus rating of “Moderate Buy” and a consensus price target of $165.24.

Insider Buying and Selling at Neurocrine Biosciences

In related news, insider Ingrid Delaet sold 1,091 shares of the stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $135.00, for a total value of $147,285.00. Following the transaction, the insider now directly owns 2,507 shares of the company’s stock, valued at approximately $338,445. This trade represents a 30.32 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Kevin Charles Gorman sold 2,707 shares of the stock in a transaction on Friday, January 31st. The stock was sold at an average price of $152.92, for a total value of $413,954.44. Following the completion of the transaction, the director now directly owns 517,030 shares in the company, valued at $79,064,227.60. This trade represents a 0.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 234,269 shares of company stock worth $34,053,879. 4.30% of the stock is owned by insiders.

Neurocrine Biosciences Stock Down 3.3 %

NBIX opened at $107.22 on Wednesday. The business has a 50 day moving average price of $131.36 and a two-hundred day moving average price of $126.41. The company has a market cap of $10.69 billion, a PE ratio of 32.59, a P/E/G ratio of 0.77 and a beta of 0.35. Neurocrine Biosciences, Inc. has a 52 week low of $105.18 and a 52 week high of $157.98.

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 the consensus estimate 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, sell-side analysts expect that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

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

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.