Peregrine Capital Management LLC Increases Stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Peregrine Capital Management LLC raised its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 1.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 64,840 shares of the company’s stock after purchasing an additional 1,159 shares during the period. Peregrine Capital Management LLC owned 0.06% of Neurocrine Biosciences worth $8,851,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. CIBC Asset Management Inc grew its stake in Neurocrine Biosciences by 13.6% in the fourth quarter. CIBC Asset Management Inc now owns 4,078 shares of the company’s stock valued at $557,000 after purchasing an additional 487 shares during the last quarter. Sanctuary Advisors LLC grew its stake in Neurocrine Biosciences by 7.1% in the fourth quarter. Sanctuary Advisors LLC now owns 8,191 shares of the company’s stock valued at $1,118,000 after purchasing an additional 542 shares during the last quarter. Capital Performance Advisors LLP grew its stake in Neurocrine Biosciences by 1,101.4% in the fourth quarter. Capital Performance Advisors LLP now owns 1,730 shares of the company’s stock valued at $236,000 after purchasing an additional 1,586 shares during the last quarter. Sheaff Brock Investment Advisors LLC grew its stake in Neurocrine Biosciences by 11.7% in the fourth quarter. Sheaff Brock Investment Advisors LLC now owns 2,499 shares of the company’s stock valued at $341,000 after purchasing an additional 261 shares during the last quarter. Finally, Principal Securities Inc. grew its stake in Neurocrine Biosciences by 24.3% in the fourth quarter. Principal Securities Inc. now owns 1,382 shares of the company’s stock valued at $189,000 after purchasing an additional 270 shares during the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Neurocrine Biosciences Trading Down 1.6 %

Shares of NASDAQ:NBIX opened at $115.02 on Tuesday. Neurocrine Biosciences, Inc. has a 12-month low of $110.95 and a 12-month high of $157.98. The company has a market capitalization of $11.65 billion, a PE ratio of 34.96 and a beta of 0.33. The business has a 50 day moving average of $137.55 and a two-hundred day moving average of $130.19.

Neurocrine Biosciences (NASDAQ:NBIX) last posted 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 13.45%. Equities research analysts predict that Neurocrine Biosciences, Inc. will post 6.53 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Kevin Charles Gorman sold 146,105 shares of the business’s stock in a transaction that occurred 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 sale, the director now directly owns 514,596 shares in the company, valued at $76,911,518.16. The trade was a 22.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Julie Cooke sold 1,551 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $116.78, for a total value of $181,125.78. Following the sale, the insider now owns 19,544 shares of the company’s stock, valued at $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 sold 236,600 shares of company stock worth $34,348,261 over the last three months. 4.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have issued reports on NBIX. Barclays lifted their target price on Neurocrine Biosciences from $160.00 to $165.00 and gave the company an “overweight” rating in a research note on Monday, December 23rd. UBS Group raised their price target on Neurocrine Biosciences from $162.00 to $176.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Canaccord Genuity Group lowered their price target on Neurocrine Biosciences from $172.00 to $163.00 and set a “buy” rating for the company in a report on Friday, February 7th. Royal Bank of Canada lowered their price target on Neurocrine Biosciences from $154.00 to $148.00 and set a “sector perform” rating for the company in a report on Friday, February 7th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Neurocrine Biosciences in a report on Friday, February 7th. Five analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $166.90.

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.