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Charles Schwab Investment Management Inc. raised its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX – Free Report) by 2.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 762,557 shares of the company’s stock after buying an additional 15,266 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Neurocrine Biosciences were worth $104,089,000 as of its most recent SEC filing.
A number of other institutional investors also recently made changes to their positions in the business. State Street Corp raised its position in shares of 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 acquiring an additional 539,936 shares in the last quarter. Jennison Associates LLC raised its position in shares of Neurocrine Biosciences by 145.1% during the 4th quarter. Jennison Associates LLC now owns 820,694 shares of the company’s stock valued at $112,025,000 after acquiring an additional 485,894 shares in the last quarter. Los Angeles Capital Management LLC raised its position in shares of Neurocrine Biosciences by 639.6% during the 3rd quarter. Los Angeles Capital Management LLC now owns 420,748 shares of the company’s stock valued at $48,479,000 after acquiring an additional 363,863 shares in the last quarter. Impax Asset Management Group plc raised its position in shares of Neurocrine Biosciences by 207.8% during the 4th quarter. Impax Asset Management Group plc now owns 261,599 shares of the company’s stock valued at $35,708,000 after acquiring an additional 176,599 shares in the last quarter. Finally, Braidwell LP raised its position in shares of 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 acquiring an additional 158,665 shares in the last quarter. 92.59% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
NBIX has been the topic of several research reports. UBS Group upped their price target on Neurocrine Biosciences from $162.00 to $176.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Guggenheim lowered their price objective on Neurocrine Biosciences from $165.00 to $163.00 and set a “buy” rating for the company in a research note on Monday, February 10th. Needham & Company LLC restated a “hold” rating on shares of Neurocrine Biosciences in a research note on Friday, February 7th. William Blair restated an “outperform” rating on shares of Neurocrine Biosciences in a research note on Friday, February 7th. Finally, Piper Sandler restated an “overweight” rating and set a $160.00 price objective on shares of Neurocrine Biosciences in a research note on Monday, December 23rd. Five equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Neurocrine Biosciences currently has an average rating of “Moderate Buy” and a consensus target price of $165.24.
Get Our Latest Analysis on Neurocrine Biosciences
Neurocrine Biosciences Stock Up 0.3 %
Shares of NBIX stock opened at $113.04 on Monday. The stock has a 50-day simple moving average of $132.47 and a 200 day simple moving average of $127.02. Neurocrine Biosciences, Inc. has a fifty-two week low of $110.25 and a fifty-two week high of $157.98. The stock has a market capitalization of $11.27 billion, a P/E ratio of 34.36, a P/E/G ratio of 0.77 and a beta of 0.35.
Neurocrine Biosciences (NASDAQ:NBIX – Get Free Report) last announced its earnings results on Thursday, February 6th. The company reported $1.00 earnings per share for the quarter, missing the consensus estimate of $1.62 by ($0.62). Neurocrine Biosciences had a net margin of 14.49% and a return on equity of 13.38%. On average, sell-side 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 initiated a stock repurchase program on Friday, February 21st that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to purchase up to 4.2% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.
Insider Activity at Neurocrine Biosciences
In other news, CEO Kyle Gano sold 65,000 shares of the company’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $141.50, for a total transaction of $9,197,500.00. Following the completion of the sale, 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Kevin Charles Gorman sold 5,844 shares of the 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 completion of the sale, the director now directly owns 521,618 shares of the company’s stock, valued at approximately $60,867,604.42. This represents a 1.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 234,269 shares of company stock valued at $34,053,879 over the last 90 days. 4.30% of the stock is currently owned by corporate insiders.
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.
See Also
Want to see what other hedge funds are holding NBIX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Neurocrine Biosciences, Inc. (NASDAQ:NBIX – Free Report).
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