Thrivent Financial for Lutherans Buys 711,970 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Thrivent Financial for Lutherans boosted its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 2,759.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 737,772 shares of the company’s stock after acquiring an additional 711,970 shares during the period. Thrivent Financial for Lutherans’ holdings in Neurocrine Biosciences were worth $100,705,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Golden State Wealth Management LLC acquired a new position in Neurocrine Biosciences in the fourth quarter valued at approximately $25,000. Brooklyn Investment Group lifted its stake in Neurocrine Biosciences by 99.1% in the fourth quarter. Brooklyn Investment Group now owns 231 shares of the company’s stock valued at $32,000 after buying an additional 115 shares during the period. Lindbrook Capital LLC lifted its stake in Neurocrine Biosciences by 53.5% in the fourth quarter. Lindbrook Capital LLC now owns 373 shares of the company’s stock valued at $51,000 after buying an additional 130 shares during the period. R Squared Ltd acquired a new position in Neurocrine Biosciences in the fourth quarter valued at approximately $61,000. Finally, UMB Bank n.a. lifted its stake in 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 period. 92.59% of the stock is currently owned by institutional investors.

Neurocrine Biosciences Trading Down 1.6 %

Shares of Neurocrine Biosciences stock opened at $109.70 on Wednesday. The stock has a fifty day simple moving average of $128.62 and a 200 day simple moving average of $125.47. Neurocrine Biosciences, Inc. has a 12-month low of $105.18 and a 12-month high of $157.98. The company has a market capitalization of $10.94 billion, a P/E ratio of 33.34, a price-to-earnings-growth ratio of 0.77 and a beta of 0.35.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings data 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 net margin of 14.49% and a return on equity of 13.38%. On average, analysts predict that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

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

Analyst Ratings Changes

NBIX has been the topic of several recent analyst reports. Needham & Company LLC reissued a “hold” rating on shares of Neurocrine Biosciences in a research note on Friday, February 7th. Guggenheim dropped their price target on Neurocrine Biosciences from $165.00 to $163.00 and set a “buy” rating on the stock in a research note on Monday, February 10th. StockNews.com raised Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, March 12th. William Blair reissued an “outperform” rating on shares of Neurocrine Biosciences in a research note on Friday, February 7th. Finally, Barclays upped their target price on Neurocrine Biosciences from $160.00 to $165.00 and gave the stock an “overweight” rating in a research report on Monday, December 23rd. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Neurocrine Biosciences presently has a consensus rating of “Moderate Buy” and a consensus price target of $165.24.

Insider Buying and Selling at Neurocrine Biosciences

In other news, CEO Kyle Gano sold 65,000 shares of the 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 transaction, the chief executive officer now owns 135,392 shares in the company, valued at approximately $19,157,968. This represents a 32.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kevin Charles Gorman sold 5,844 shares of the stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $116.69, for a total value of $681,936.36. Following the transaction, the director now owns 521,618 shares of the company’s stock, valued at $60,867,604.42. The trade was a 1.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 233,178 shares of company stock worth $33,906,594 in the last quarter. 4.30% of the stock is currently owned by company 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.