Vanguard Group Inc. Acquires 122,681 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Vanguard Group Inc. grew its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 1.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,119,641 shares of the company’s stock after purchasing an additional 122,681 shares during the period. Vanguard Group Inc. owned about 0.10% of Neurocrine Biosciences worth $1,381,331,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in NBIX. Louisiana State Employees Retirement System increased its stake in Neurocrine Biosciences by 0.4% in the 4th quarter. Louisiana State Employees Retirement System now owns 28,100 shares of the company’s stock valued at $3,836,000 after buying an additional 100 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Neurocrine Biosciences by 0.5% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 22,361 shares of the company’s stock valued at $3,052,000 after acquiring an additional 103 shares during the last quarter. Metis Global Partners LLC raised its holdings in Neurocrine Biosciences by 4.3% during the fourth quarter. Metis Global Partners LLC now owns 2,548 shares of the company’s stock worth $348,000 after acquiring an additional 104 shares in the last quarter. Brooklyn Investment Group boosted its position in Neurocrine Biosciences by 99.1% during the fourth quarter. Brooklyn Investment Group now owns 231 shares of the company’s stock valued at $32,000 after purchasing an additional 115 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund grew its stake in Neurocrine Biosciences by 0.6% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 20,633 shares of the company’s stock valued at $2,816,000 after purchasing an additional 117 shares in the last quarter. Institutional investors own 92.59% of the company’s stock.

Insider Activity

In related news, CFO Matt Abernethy sold 2,558 shares of the firm’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $116.86, for a total transaction of $298,927.88. Following the completion of the transaction, the chief financial officer now directly owns 34,775 shares of the company’s stock, valued at $4,063,806.50. This trade represents a 6.85 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ingrid Delaet sold 272 shares of the company’s stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $138.10, for a total value of $37,563.20. Following the completion of the sale, the insider now owns 2,507 shares in the company, valued at $346,216.70. This trade represents a 9.79 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 233,178 shares of company stock valued at $33,906,594. Insiders own 4.30% of the company’s stock.

Neurocrine Biosciences Price Performance

Shares of Neurocrine Biosciences stock opened at $114.00 on Friday. The company’s 50 day moving average price is $124.77 and its two-hundred day moving average price is $124.95. The firm has a market capitalization of $11.37 billion, a P/E ratio of 34.65, a P/E/G ratio of 0.77 and a beta of 0.35. Neurocrine Biosciences, Inc. has a fifty-two week low of $105.18 and a fifty-two week high of $157.98.

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%. On average, analysts expect that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.

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

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. UBS Group upped their price objective on Neurocrine Biosciences from $162.00 to $176.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. JPMorgan Chase & Co. upped their price target on shares of Neurocrine Biosciences from $183.00 to $184.00 and gave the stock an “overweight” rating in a research report on Wednesday. Guggenheim cut their price target on shares of Neurocrine Biosciences from $165.00 to $163.00 and set a “buy” rating for the company in a research note on Monday, February 10th. HC Wainwright restated a “buy” rating and set a $185.00 price objective on shares of Neurocrine Biosciences in a research note on Friday, February 21st. Finally, William Blair reiterated an “outperform” rating on shares of Neurocrine Biosciences in a research note on Friday, February 7th. 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. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $165.38.

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.