Lindbrook Capital LLC Raises Stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Lindbrook Capital LLC grew its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 53.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 373 shares of the company’s stock after buying an additional 130 shares during the period. Lindbrook Capital LLC’s holdings in Neurocrine Biosciences were worth $51,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of NBIX. Raymond James Financial Inc. acquired a new position in shares of Neurocrine Biosciences in the 4th quarter valued at $115,193,000. State Street Corp lifted its stake 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 valued at $593,186,000 after purchasing an additional 539,936 shares during the last quarter. Jennison Associates LLC lifted its stake 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 valued at $112,025,000 after purchasing an additional 485,894 shares during the last quarter. Los Angeles Capital Management LLC lifted its stake in shares of Neurocrine Biosciences by 639.6% in the 3rd quarter. Los Angeles Capital Management LLC now owns 420,748 shares of the company’s stock valued at $48,479,000 after purchasing an additional 363,863 shares during the last quarter. Finally, Impax Asset Management Group plc lifted its stake in shares of Neurocrine Biosciences by 207.8% in the 4th quarter. Impax Asset Management Group plc now owns 261,599 shares of the company’s stock valued at $35,708,000 after purchasing an additional 176,599 shares during the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

Neurocrine Biosciences Stock Performance

NBIX opened at $113.04 on Friday. Neurocrine Biosciences, Inc. has a one year low of $110.25 and a one year high of $157.98. The company has a market cap of $11.27 billion, a P/E ratio of 34.36, a PEG ratio of 0.77 and a beta of 0.35. The business’s 50-day simple moving average is $132.47 and its 200-day simple moving average is $127.19.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings data on Thursday, February 6th. The company reported $1.00 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%. As a group, analysts predict that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

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

Analyst Upgrades and Downgrades

Several brokerages have recently commented on NBIX. Canaccord Genuity Group decreased their price target on Neurocrine Biosciences from $172.00 to $163.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. StockNews.com lowered Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 18th. Needham & Company LLC reissued a “hold” rating on shares of Neurocrine Biosciences in a research note on Friday, February 7th. Guggenheim decreased their target price 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. Finally, Morgan Stanley reissued an “overweight” rating and set a $150.00 target price (down previously from $185.00) on shares of Neurocrine Biosciences in a research note on Friday. Five equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Neurocrine Biosciences presently has an average rating of “Moderate Buy” and an average price target of $165.24.

Insiders Place Their Bets

In other news, insider Ingrid Delaet sold 272 shares of the firm’s stock in a transaction that occurred on Tuesday, December 31st. The stock was 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 directly owns 2,507 shares of the company’s stock, valued at $346,216.70. This trade represents a 9.79 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kevin Charles Gorman sold 146,105 shares of the firm’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $149.46, for a total value of $21,836,853.30. Following the completion of the sale, the director now directly owns 514,596 shares of the company’s stock, valued at $76,911,518.16. This represents a 22.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 234,269 shares of company stock valued at $34,053,879. 4.30% of the stock is owned by company insiders.

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.