GW&K Investment Management LLC Grows Holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

GW&K Investment Management LLC raised its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 0.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 514,082 shares of the company’s stock after buying an additional 3,993 shares during the period. GW&K Investment Management LLC owned 0.51% of Neurocrine Biosciences worth $70,172,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of NBIX. Golden State Wealth Management LLC purchased a new stake in shares of Neurocrine Biosciences during the fourth quarter valued at approximately $25,000. Brooklyn Investment Group increased its position in shares of Neurocrine Biosciences by 99.1% during the 4th quarter. Brooklyn Investment Group now owns 231 shares of the company’s stock valued at $32,000 after purchasing an additional 115 shares during the last quarter. Blue Trust Inc. increased its position in shares of Neurocrine Biosciences by 171.9% during the 3rd quarter. Blue Trust Inc. now owns 348 shares of the company’s stock valued at $40,000 after purchasing an additional 220 shares during the last quarter. R Squared Ltd bought a new stake in shares of Neurocrine Biosciences during the 4th quarter worth $61,000. Finally, UMB Bank n.a. boosted its holdings in shares of Neurocrine Biosciences by 211.6% in the 4th quarter. UMB Bank n.a. now owns 455 shares of the company’s stock worth $62,000 after buying an additional 309 shares during the last quarter. Institutional investors own 92.59% of the company’s stock.

Neurocrine Biosciences Stock Down 0.1 %

NASDAQ:NBIX opened at $117.51 on Friday. The stock has a market cap of $11.72 billion, a P/E ratio of 35.72, a PEG ratio of 0.77 and a beta of 0.33. The business’s 50-day moving average price is $135.23 and its two-hundred day moving average price is $128.73. Neurocrine Biosciences, Inc. has a twelve month low of $110.95 and a twelve month high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its earnings results 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%. On average, equities research analysts expect that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

Neurocrine Biosciences announced that its board has authorized a stock repurchase program on Friday, February 21st that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to repurchase up to 4.2% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Insider Activity

In other Neurocrine Biosciences news, Director Kevin Charles Gorman sold 146,105 shares of the company’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 owns 514,596 shares of the company’s stock, valued at $76,911,518.16. This represents a 22.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ingrid Delaet sold 272 shares of the stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $138.10, for a total transaction of $37,563.20. Following the transaction, the insider now owns 2,507 shares in the company, valued at $346,216.70. The trade was a 9.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 234,269 shares of company stock worth $34,053,879. 4.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on NBIX shares. StockNews.com downgraded shares of Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 18th. HC Wainwright restated a “buy” rating and set a $185.00 price target on shares of Neurocrine Biosciences in a research note on Friday, February 21st. Bank of America dropped their price objective on Neurocrine Biosciences from $184.00 to $179.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. Royal Bank of Canada decreased their target price on Neurocrine Biosciences from $154.00 to $148.00 and set a “sector perform” rating for the company in a research report on Friday, February 7th. Finally, UBS Group upped their price target on Neurocrine Biosciences from $162.00 to $176.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Five equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.