Edgestream Partners L.P. Grows Stock Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Edgestream Partners L.P. raised its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 138.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,574 shares of the company’s stock after purchasing an additional 7,308 shares during the quarter. Edgestream Partners L.P.’s holdings in Neurocrine Biosciences were worth $1,716,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of NBIX. Golden State Wealth Management LLC purchased a new position in shares of Neurocrine Biosciences in the 4th quarter worth about $25,000. Brooklyn Investment Group raised its holdings in shares of Neurocrine Biosciences by 99.1% in the 4th quarter. Brooklyn Investment Group now owns 231 shares of the company’s stock worth $32,000 after purchasing an additional 115 shares during the period. Lindbrook Capital LLC raised its holdings in shares of Neurocrine Biosciences by 53.5% in the 4th quarter. Lindbrook Capital LLC now owns 373 shares of the company’s stock worth $51,000 after purchasing an additional 130 shares during the period. R Squared Ltd purchased a new position in shares of Neurocrine Biosciences in the 4th quarter worth about $61,000. Finally, UMB Bank n.a. raised 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 purchasing an additional 309 shares during the period. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Neurocrine Biosciences Price Performance

Shares of Neurocrine Biosciences stock opened at $110.87 on Tuesday. The business’s fifty day moving average price is $131.95 and its two-hundred day moving average price is $126.73. The company has a market capitalization of $11.05 billion, a P/E ratio of 33.70, a PEG ratio of 0.77 and a beta of 0.35. Neurocrine Biosciences, Inc. has a 1-year low of $110.25 and a 1-year 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 the consensus estimate 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, research analysts expect that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

Neurocrine Biosciences announced that its Board of Directors has authorized a stock buyback plan on Friday, February 21st that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to reacquire up to 4.2% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

NBIX has been the topic of a number of research reports. Guggenheim cut their price objective on Neurocrine Biosciences from $165.00 to $163.00 and set a “buy” rating on the stock in a report on Monday, February 10th. StockNews.com lowered Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 18th. Canaccord Genuity Group lowered their target price on Neurocrine Biosciences from $172.00 to $163.00 and set a “buy” rating for the company in a research note on Friday, February 7th. Royal Bank of Canada lowered their target price on Neurocrine Biosciences from $154.00 to $148.00 and set a “sector perform” rating for the company in a research note on Friday, February 7th. Finally, Bank of America lowered their target price on Neurocrine Biosciences from $184.00 to $179.00 and set a “buy” rating for the company in a research note on Friday, February 7th. Five analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Neurocrine Biosciences has an average rating of “Moderate Buy” and a consensus price target of $165.24.

Insider Buying and Selling at Neurocrine Biosciences

In other news, CEO Kyle Gano sold 65,000 shares of the company’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $141.50, for a total value of $9,197,500.00. Following the completion of the sale, the chief executive officer now owns 135,392 shares in the company, valued at $19,157,968. This represents a 32.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Ingrid Delaet sold 1,091 shares of the company’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $135.00, for a total value 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. This trade represents a 30.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 234,269 shares of company stock valued at $34,053,879 in the last quarter. Corporate insiders own 4.30% of the company’s stock.

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.