Natixis Increases Stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Natixis raised its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 161.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,485 shares of the company’s stock after buying an additional 918 shares during the period. Natixis’ holdings in Neurocrine Biosciences were worth $203,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Golden State Wealth Management LLC purchased a new position in Neurocrine Biosciences in the fourth quarter valued at $25,000. Huntington National Bank raised its position in Neurocrine Biosciences by 73.5% in the 4th quarter. Huntington National Bank now owns 229 shares of the company’s stock valued at $31,000 after purchasing an additional 97 shares in the last quarter. Brooklyn Investment Group boosted its stake in shares of Neurocrine Biosciences by 99.1% in the 4th 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. GeoWealth Management LLC boosted its stake in shares of Neurocrine Biosciences by 65.4% in the 4th quarter. GeoWealth Management LLC now owns 258 shares of the company’s stock valued at $35,000 after buying an additional 102 shares during the period. Finally, Lindbrook Capital LLC grew its position in shares of Neurocrine Biosciences by 53.5% during the fourth quarter. Lindbrook Capital LLC now owns 373 shares of the company’s stock worth $51,000 after buying an additional 130 shares in the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

Neurocrine Biosciences Stock Up 2.5 %

NBIX opened at $105.76 on Friday. Neurocrine Biosciences, Inc. has a 52 week low of $84.23 and a 52 week high of $157.98. The business has a 50 day moving average price of $107.30 and a two-hundred day moving average price of $122.12. The company has a market cap of $10.46 billion, a PE ratio of 32.15, a P/E/G ratio of 0.77 and a beta of 0.33.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings results on Thursday, February 6th. The company reported $1.00 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 declared that its Board of Directors has initiated a share buyback plan on Friday, February 21st that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 4.2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Insider Transactions at Neurocrine Biosciences

In related news, CFO Matt Abernethy sold 1,283 shares of the company’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $152.87, for a total transaction of $196,132.21. Following the transaction, the chief financial officer now owns 32,681 shares of the company’s stock, valued at $4,995,944.47. This represents a 3.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kevin Charles Gorman sold 146,105 shares of the stock in a transaction on Monday, January 27th. The stock was sold at an average price of $149.46, for a total value of $21,836,853.30. Following the completion of the transaction, the director now owns 514,596 shares of the company’s stock, valued at $76,911,518.16. The trade was a 22.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 167,906 shares of company stock worth $24,671,530 over the last ninety days. 4.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on NBIX shares. Wedbush decreased their price target on shares of Neurocrine Biosciences from $157.00 to $147.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. StockNews.com cut shares of Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 20th. Canaccord Genuity Group dropped their target price on Neurocrine Biosciences from $172.00 to $163.00 and set a “buy” rating on the stock in a report on Friday, February 7th. Deutsche Bank Aktiengesellschaft assumed coverage on Neurocrine Biosciences in a report on Tuesday, February 11th. They set a “hold” rating and a $138.00 price target for the company. Finally, Guggenheim dropped their price objective on Neurocrine Biosciences from $165.00 to $163.00 and set a “buy” rating on the stock in a report on Monday, February 10th. Three investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $161.14.

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.