Focus Partners Wealth Has $6.97 Million Stock Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Focus Partners Wealth grew its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 9.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 51,078 shares of the company’s stock after purchasing an additional 4,420 shares during the period. Focus Partners Wealth’s holdings in Neurocrine Biosciences were worth $6,972,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in NBIX. Pallas Capital Advisors LLC raised its holdings in shares of Neurocrine Biosciences by 19.0% during the fourth quarter. Pallas Capital Advisors LLC now owns 7,673 shares of the company’s stock valued at $1,047,000 after purchasing an additional 1,225 shares during the period. Tealwood Asset Management Inc. raised its holdings in shares of Neurocrine Biosciences by 1.0% during the fourth quarter. Tealwood Asset Management Inc. now owns 11,911 shares of the company’s stock valued at $1,626,000 after purchasing an additional 118 shares during the period. Park Avenue Securities LLC raised its holdings in shares of 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 purchasing an additional 1,336 shares during the period. Clarus Wealth Advisors acquired a new position in shares of Neurocrine Biosciences during the fourth quarter valued at about $253,000. Finally, Sendero Wealth Management LLC raised its holdings in shares of Neurocrine Biosciences by 3.3% during the fourth quarter. Sendero Wealth Management LLC now owns 20,944 shares of the company’s stock valued at $2,859,000 after purchasing an additional 672 shares during the period. Institutional investors and hedge funds own 92.59% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Bank of America decreased their target price on shares of Neurocrine Biosciences from $184.00 to $179.00 and set a “buy” rating for the company in a research report on Friday, February 7th. Morgan Stanley reissued an “overweight” rating and set a $150.00 target price (down from $185.00) on shares of Neurocrine Biosciences in a research report on Friday, March 7th. Piper Sandler reissued an “overweight” rating and set a $154.00 target price (down from $160.00) on shares of Neurocrine Biosciences in a research report on Tuesday, May 6th. UBS Group boosted their target price on shares of Neurocrine Biosciences from $137.00 to $152.00 and gave the stock a “buy” rating in a research report on Tuesday, May 6th. Finally, StockNews.com downgraded shares of Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 20th. Three research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $162.00.

Neurocrine Biosciences Stock Performance

Shares of NBIX stock opened at $116.87 on Wednesday. Neurocrine Biosciences, Inc. has a 52-week low of $84.23 and a 52-week high of $157.98. The company has a 50-day simple moving average of $106.44 and a two-hundred day simple moving average of $121.89. The company has a market capitalization of $11.57 billion, a price-to-earnings ratio of 35.52, a PEG ratio of 0.77 and a beta of 0.26.

Neurocrine Biosciences (NASDAQ:NBIX) last released its earnings results on Monday, May 5th. The company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.62). The company had revenue of $572.60 million during the quarter, compared to analysts’ expectations of $587.06 million. Neurocrine Biosciences had a net margin of 14.49% and a return on equity of 13.38%. The firm’s revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.20 earnings per share. On average, sell-side analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

Neurocrine Biosciences announced that its Board of Directors has approved a share buyback plan on Friday, February 21st that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 4.2% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Neurocrine Biosciences

In other Neurocrine Biosciences news, CFO Matt Abernethy sold 2,558 shares of the business’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $116.86, for a total value of $298,927.88. Following the transaction, the chief financial officer now directly owns 34,775 shares in the company, valued at $4,063,806.50. The trade was a 6.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Julie Cooke sold 1,551 shares of the business’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $116.78, for a total transaction of $181,125.78. Following the completion of the transaction, the insider now owns 19,544 shares in the company, valued at approximately $2,282,348.32. The trade was a 7.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 39,953 shares of company stock worth $4,467,990 over the last three months. 4.80% of the stock is currently owned by 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.