Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Stock Holdings Lifted by QRG Capital Management Inc.

QRG Capital Management Inc. lifted its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 2.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 18,732 shares of the company’s stock after acquiring an additional 453 shares during the quarter. QRG Capital Management Inc.’s holdings in Neurocrine Biosciences were worth $2,557,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. lifted its holdings in shares of Neurocrine Biosciences by 171.9% in the third quarter. Blue Trust Inc. now owns 348 shares of the company’s stock valued at $40,000 after purchasing an additional 220 shares in the last quarter. State of Alaska Department of Revenue lifted its stake in Neurocrine Biosciences by 7.3% in the 3rd quarter. State of Alaska Department of Revenue now owns 11,735 shares of the company’s stock worth $1,352,000 after acquiring an additional 795 shares in the last quarter. New York State Teachers Retirement System boosted its position in Neurocrine Biosciences by 1.8% during the 3rd quarter. New York State Teachers Retirement System now owns 115,050 shares of the company’s stock worth $13,256,000 after acquiring an additional 2,017 shares during the period. First Trust Direct Indexing L.P. boosted its position in Neurocrine Biosciences by 5.9% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 4,708 shares of the company’s stock worth $542,000 after acquiring an additional 264 shares during the period. Finally, Robeco Institutional Asset Management B.V. grew its stake in Neurocrine Biosciences by 16.0% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 387,282 shares of the company’s stock valued at $44,623,000 after acquiring an additional 53,301 shares in the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

Neurocrine Biosciences Price Performance

Shares of NBIX opened at $118.72 on Friday. The company has a market capitalization of $11.84 billion, a PE ratio of 36.08, a price-to-earnings-growth ratio of 0.77 and a beta of 0.33. Neurocrine Biosciences, Inc. has a one year low of $110.95 and a one year high of $157.98. The company’s fifty day moving average price is $134.90 and its 200 day moving average price is $128.38.

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 return on equity of 13.38% and a net margin of 14.49%. Analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.

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

Insiders Place Their Bets

In other news, Director Kevin Charles Gorman sold 5,844 shares of the business’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $116.69, for a total transaction of $681,936.36. Following the transaction, the director now owns 521,618 shares in the company, valued at approximately $60,867,604.42. The trade was a 1.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Ingrid Delaet sold 1,091 shares of the stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $135.00, for a total transaction of $147,285.00. Following the completion of the sale, the insider now owns 2,507 shares of the company’s stock, valued at approximately $338,445. The trade was a 30.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 234,269 shares of company stock valued at $34,053,879 in the last three months. Company insiders own 4.30% of the company’s stock.

Analyst Ratings Changes

NBIX has been the subject of a number of research analyst reports. William Blair reissued an “outperform” rating on shares of Neurocrine Biosciences in a research report on Friday, February 7th. Piper Sandler reiterated an “overweight” rating and issued a $160.00 target price on shares of Neurocrine Biosciences in a research report on Monday, December 23rd. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Neurocrine Biosciences in a report on Tuesday, February 11th. They set a “hold” rating and a $138.00 price target on the stock. UBS Group increased their price objective on Neurocrine Biosciences from $162.00 to $176.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Finally, Canaccord Genuity Group lowered their target price on Neurocrine Biosciences from $172.00 to $163.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. Five investment 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. According to MarketBeat, Neurocrine Biosciences presently has a consensus rating of “Moderate Buy” and a consensus 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.