Tema Etfs LLC Buys New Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Tema Etfs LLC bought a new stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 3,846 shares of the company’s stock, valued at approximately $525,000.

Several other large investors have also bought and sold shares of NBIX. Park Avenue Securities LLC boosted its stake in Neurocrine Biosciences by 23.3% during the fourth quarter. Park Avenue Securities LLC now owns 7,080 shares of the company’s stock valued at $966,000 after buying an additional 1,336 shares in the last quarter. Avanza Fonder AB bought a new position in Neurocrine Biosciences during the fourth quarter valued at about $1,804,000. Merit Financial Group LLC bought a new position in Neurocrine Biosciences during the fourth quarter valued at about $520,000. Brooklyn Investment Group boosted its stake 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 buying an additional 115 shares in the last quarter. Finally, HB Wealth Management LLC bought a new position in Neurocrine Biosciences during the fourth quarter valued at about $373,000. Institutional investors own 92.59% of the company’s stock.

Neurocrine Biosciences Price Performance

Shares of NBIX stock opened at $121.02 on Friday. Neurocrine Biosciences, Inc. has a fifty-two week low of $84.23 and a fifty-two week high of $157.98. The stock’s 50-day moving average is $107.02 and its two-hundred day moving average is $121.91. The firm has a market cap of $11.98 billion, a P/E ratio of 36.78, a PEG ratio of 0.77 and a beta of 0.26.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its earnings results on Monday, May 5th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.62). Neurocrine Biosciences had a return on equity of 13.38% and a net margin of 14.49%. The firm had revenue of $572.60 million during the quarter, compared to analyst estimates of $587.06 million. During the same period in the previous year, the company earned $1.20 earnings per share. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. As a group, research analysts expect that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

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

Analyst Ratings Changes

Several brokerages recently weighed in on NBIX. Bank of America decreased their target price on Neurocrine Biosciences from $184.00 to $179.00 and set a “buy” rating for the company in a research note on Friday, February 7th. Wedbush reaffirmed an “outperform” rating on shares of Neurocrine Biosciences in a report on Tuesday, May 6th. Canaccord Genuity Group upped their target price on Neurocrine Biosciences from $158.00 to $160.00 and gave the company a “buy” rating in a report on Tuesday, May 6th. StockNews.com downgraded Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 20th. Finally, Guggenheim upped their target price on Neurocrine Biosciences from $155.00 to $165.00 and gave the company a “buy” rating in a report on Tuesday, May 6th. Three research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $162.00.

Insiders Place Their Bets

In other news, Director William H. Rastetter sold 30,000 shares of the stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $110.20, for a total transaction of $3,306,000.00. Following the transaction, the director now owns 37,491 shares of the company’s stock, valued at approximately $4,131,508.20. This represents a 44.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 4.80% of the company’s stock.

Neurocrine Biosciences Company 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.