Sound View Wealth Advisors Group LLC Acquires 652 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Sound View Wealth Advisors Group LLC boosted its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 15.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,936 shares of the company’s stock after purchasing an additional 652 shares during the period. Sound View Wealth Advisors Group LLC’s holdings in Neurocrine Biosciences were worth $674,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Roberts Glore & Co. Inc. IL bought a new stake in shares of Neurocrine Biosciences in the 4th quarter valued at about $204,000. Edgestream Partners L.P. lifted its position in Neurocrine Biosciences by 138.8% in the fourth quarter. Edgestream Partners L.P. now owns 12,574 shares of the company’s stock valued at $1,716,000 after purchasing an additional 7,308 shares during the last quarter. Lindbrook Capital LLC lifted its position in Neurocrine Biosciences by 53.5% in the fourth quarter. Lindbrook Capital LLC now owns 373 shares of the company’s stock valued at $51,000 after purchasing an additional 130 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Neurocrine Biosciences during the fourth quarter valued at approximately $115,193,000. Finally, Arizona State Retirement System grew its holdings in shares of Neurocrine Biosciences by 1.6% in the fourth quarter. Arizona State Retirement System now owns 29,302 shares of the company’s stock worth $4,000,000 after purchasing an additional 469 shares during the last quarter. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Ingrid Delaet sold 1,091 shares of the firm’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $135.00, for a total value of $147,285.00. Following the transaction, the insider now directly owns 2,507 shares in the company, valued at $338,445. This trade represents a 30.32 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Matt Abernethy sold 1,283 shares of the company’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $152.87, for a total value of $196,132.21. Following the sale, the chief financial officer now owns 32,681 shares of the company’s stock, valued at approximately $4,995,944.47. This trade represents a 3.78 % 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 over the last ninety days. 4.30% of the stock is currently owned by corporate insiders.

Neurocrine Biosciences Stock Up 0.3 %

Shares of NBIX opened at $113.04 on Monday. The business’s 50 day moving average price is $132.47 and its 200-day moving average price is $127.02. Neurocrine Biosciences, Inc. has a 52 week low of $110.25 and a 52 week high of $157.98. The stock has a market cap of $11.27 billion, a P/E ratio of 34.36, a P/E/G ratio of 0.77 and a beta of 0.35.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its earnings results on Thursday, February 6th. The company reported $1.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.62 by ($0.62). Neurocrine Biosciences had a return on equity of 13.38% and a net margin of 14.49%. On average, equities analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

Neurocrine Biosciences declared that its Board of Directors has authorized a stock buyback program on Friday, February 21st that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 4.2% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

NBIX has been the subject of several analyst reports. Needham & Company LLC reissued a “hold” rating on shares of Neurocrine Biosciences in a research report on Friday, February 7th. Guggenheim dropped their target price on shares of Neurocrine Biosciences from $165.00 to $163.00 and set a “buy” rating for the company in a report on Monday, February 10th. Canaccord Genuity Group cut 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. Morgan Stanley reaffirmed an “overweight” rating and set a $150.00 price target (down previously from $185.00) on shares of Neurocrine Biosciences in a research report on Friday. Finally, Wedbush cut their price objective on Neurocrine Biosciences from $157.00 to $147.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. Five investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $165.24.

About Neurocrine Biosciences

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.