EverSource Wealth Advisors LLC Acquires 241 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

EverSource Wealth Advisors LLC lifted its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 107.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 466 shares of the company’s stock after purchasing an additional 241 shares during the period. EverSource Wealth Advisors LLC’s holdings in Neurocrine Biosciences were worth $64,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in NBIX. Golden State Wealth Management LLC bought a new stake in shares of Neurocrine Biosciences during the 4th quarter worth $25,000. Brooklyn Investment Group raised its stake in shares of Neurocrine Biosciences by 99.1% during 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 stake in Neurocrine Biosciences by 53.5% in the 4th quarter. Lindbrook Capital LLC now owns 373 shares of the company’s stock valued at $51,000 after acquiring an additional 130 shares during the period. R Squared Ltd bought a new stake in Neurocrine Biosciences in the 4th quarter valued at about $61,000. Finally, UMB Bank n.a. raised its stake in Neurocrine Biosciences by 211.6% in the 4th quarter. UMB Bank n.a. now owns 455 shares of the company’s stock valued at $62,000 after acquiring an additional 309 shares during the period. 92.59% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

NBIX has been the topic of a number of research reports. HC Wainwright restated a “buy” rating and issued a $185.00 price objective on shares of Neurocrine Biosciences in a research note on Friday, February 21st. Deutsche Bank Aktiengesellschaft initiated coverage on Neurocrine Biosciences in a research report on Tuesday, February 11th. They set a “hold” rating and a $138.00 price target on the stock. 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. Guggenheim decreased their price target on Neurocrine Biosciences from $165.00 to $163.00 and set a “buy” rating on the stock in a research report on Monday, February 10th. Finally, Royal Bank of Canada decreased their price target on Neurocrine Biosciences from $154.00 to $148.00 and set a “sector perform” rating on the stock in a research report on Friday, February 7th. Five research 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $165.24.

Insider Activity

In other news, CEO Kyle Gano sold 65,000 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $141.50, for a total transaction of $9,197,500.00. Following the completion of the sale, the chief executive officer now owns 135,392 shares of the company’s stock, valued at approximately $19,157,968. This represents a 32.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kevin Charles Gorman sold 146,105 shares of the stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $149.46, for a total value of $21,836,853.30. Following the sale, the director now directly owns 514,596 shares of the company’s stock, valued at approximately $76,911,518.16. This trade represents a 22.11 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 233,178 shares of company stock valued at $33,906,594. 4.30% of the stock is currently owned by company insiders.

Neurocrine Biosciences Price Performance

Shares of NBIX opened at $110.31 on Thursday. The firm has a market cap of $11.00 billion, a P/E ratio of 33.53, a P/E/G ratio of 0.77 and a beta of 0.35. The stock has a 50 day simple moving average of $128.06 and a two-hundred day simple moving average of $125.36. Neurocrine Biosciences, Inc. has a 1 year low of $105.18 and a 1 year high of $157.98.

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 earnings per share for the current year.

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

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.