Alyeska Investment Group L.P. Takes $33.98 Million Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Alyeska Investment Group L.P. acquired a new position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 248,928 shares of the company’s stock, valued at approximately $33,979,000. Alyeska Investment Group L.P. owned 0.25% of Neurocrine Biosciences as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. OneDigital Investment Advisors LLC boosted its position in shares of Neurocrine Biosciences by 2.1% during the fourth quarter. OneDigital Investment Advisors LLC now owns 4,215 shares of the company’s stock worth $575,000 after buying an additional 87 shares during the period. HighPoint Advisor Group LLC grew its position in Neurocrine Biosciences by 4.1% in the 4th quarter. HighPoint Advisor Group LLC now owns 2,446 shares of the company’s stock valued at $334,000 after acquiring an additional 96 shares in the last quarter. Huntington National Bank grew 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 acquiring an additional 97 shares in the last quarter. Louisiana State Employees Retirement System increased its stake in Neurocrine Biosciences by 0.4% during the fourth quarter. Louisiana State Employees Retirement System now owns 28,100 shares of the company’s stock worth $3,836,000 after purchasing an additional 100 shares during the period. Finally, Utah Retirement Systems lifted its position in shares of Neurocrine Biosciences by 0.6% during the fourth quarter. Utah Retirement Systems now owns 16,583 shares of the company’s stock worth $2,264,000 after purchasing an additional 100 shares in the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. StockNews.com cut shares of Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 20th. Deutsche Bank Aktiengesellschaft started coverage on Neurocrine Biosciences in a report on Tuesday, February 11th. They issued a “hold” rating and a $138.00 target price on the stock. William Blair reaffirmed an “outperform” rating on shares of Neurocrine Biosciences in a research report on Friday, February 7th. Evercore ISI cut their target price on Neurocrine Biosciences from $190.00 to $185.00 and set an “outperform” rating on the stock in a research report on Thursday, April 24th. Finally, Bank of America lowered their price target on Neurocrine Biosciences from $184.00 to $179.00 and set a “buy” rating for the company in a report on Friday, February 7th. Three research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $160.90.

Neurocrine Biosciences Trading Up 2.9 %

Neurocrine Biosciences stock opened at $109.68 on Friday. The stock has a market capitalization of $10.85 billion, a price-to-earnings ratio of 33.34, a PEG ratio of 0.77 and a beta of 0.33. The stock has a 50 day moving average of $106.19 and a two-hundred day moving average of $121.86. Neurocrine Biosciences, Inc. has a twelve month low of $84.23 and a twelve month high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX) last posted 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 net margin of 14.49% and a return on equity of 13.38%. Equities analysts predict that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current 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 repurchase up to 4.2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Insider Transactions at Neurocrine Biosciences

In other Neurocrine Biosciences news, CFO Matt Abernethy sold 2,558 shares of the stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $116.86, for a total value of $298,927.88. Following the completion of the transaction, the chief financial officer now owns 34,775 shares in the company, valued at approximately $4,063,806.50. This represents a 6.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Ingrid Delaet sold 623 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $149.29, for a total transaction of $93,007.67. Following the sale, the insider now owns 3,442 shares in the company, valued at $513,856.18. The trade was a 15.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 14,530 shares of company stock worth $1,722,989 over the last ninety days. 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.