Peloton Wealth Strategists Has $1.93 Million Holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Peloton Wealth Strategists increased its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 301.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,115 shares of the company’s stock after buying an additional 10,600 shares during the quarter. Peloton Wealth Strategists’ holdings in Neurocrine Biosciences were worth $1,927,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Golden State Wealth Management LLC acquired a new stake in shares of Neurocrine Biosciences in the 4th quarter valued at approximately $25,000. Brooklyn Investment Group boosted 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 valued at $32,000 after buying an additional 115 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Neurocrine Biosciences by 171.9% in the 3rd quarter. Blue Trust Inc. now owns 348 shares of the company’s stock valued at $40,000 after buying an additional 220 shares during the last quarter. R Squared Ltd acquired a new stake in shares of Neurocrine Biosciences in the 4th quarter valued at approximately $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 valued at $62,000 after buying an additional 309 shares during the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

Insider Buying and Selling

In other Neurocrine Biosciences news, insider Ingrid Delaet sold 1,091 shares of Neurocrine Biosciences stock in a transaction dated 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 owns 2,507 shares in the company, valued at $338,445. The trade was a 30.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kevin Charles Gorman sold 5,844 shares of Neurocrine Biosciences stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $116.69, for a total value of $681,936.36. Following the completion of the transaction, the director now owns 521,618 shares in the company, valued at approximately $60,867,604.42. This represents a 1.11 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 234,269 shares of company stock worth $34,053,879. Company insiders own 4.30% of the company’s stock.

Neurocrine Biosciences Stock Performance

Shares of NASDAQ NBIX opened at $117.51 on Friday. Neurocrine Biosciences, Inc. has a 52 week low of $110.95 and a 52 week high of $157.98. The stock has a market capitalization of $11.72 billion, a P/E ratio of 35.72, a PEG ratio of 0.77 and a beta of 0.33. The stock’s fifty day moving average is $135.23 and its 200 day moving average is $128.73.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings results 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%. Equities research analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.

Neurocrine Biosciences declared that its board has initiated a share buyback plan on Friday, February 21st that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows 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.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on NBIX shares. Royal Bank of Canada cut their price target on Neurocrine Biosciences from $154.00 to $148.00 and set a “sector perform” rating for the company in a report on Friday, February 7th. Guggenheim cut their price target on Neurocrine Biosciences from $165.00 to $163.00 and set a “buy” rating for the company in a report on Monday, February 10th. William Blair reaffirmed an “outperform” rating on shares of Neurocrine Biosciences in a report on Friday, February 7th. Canaccord Genuity Group cut their price target on Neurocrine Biosciences from $172.00 to $163.00 and set a “buy” rating for the company in a report on Friday, February 7th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $185.00 price target on shares of Neurocrine Biosciences in a report on Friday, February 21st. Five investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average 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.