Zurcher Kantonalbank Zurich Cantonalbank Has $8.36 Million Stock Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 0.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 61,260 shares of the company’s stock after buying an additional 360 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.06% of Neurocrine Biosciences worth $8,362,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Sound View Wealth Advisors Group LLC grew its position in Neurocrine Biosciences by 15.2% in the fourth quarter. Sound View Wealth Advisors Group LLC now owns 4,936 shares of the company’s stock valued at $674,000 after acquiring an additional 652 shares during the period. Roberts Glore & Co. Inc. IL bought a new stake in shares of Neurocrine Biosciences in the 4th quarter worth about $204,000. Edgestream Partners L.P. grew its holdings in shares of Neurocrine Biosciences by 138.8% in the 4th quarter. Edgestream Partners L.P. now owns 12,574 shares of the company’s stock worth $1,716,000 after purchasing an additional 7,308 shares during the last quarter. Lindbrook Capital LLC grew 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 last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Neurocrine Biosciences in the 4th quarter worth about $115,193,000. Institutional investors own 92.59% of the company’s stock.

Neurocrine Biosciences Price Performance

Shares of NASDAQ:NBIX opened at $108.99 on Friday. The company has a market capitalization of $10.87 billion, a price-to-earnings ratio of 33.13, a P/E/G ratio of 0.77 and a beta of 0.35. The firm’s 50 day simple moving average is $130.23 and its 200 day simple moving average is $126.17. Neurocrine Biosciences, Inc. has a fifty-two week low of $105.18 and a fifty-two week high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings results on Thursday, February 6th. The company reported $1.00 earnings per share for the quarter, missing analysts’ consensus estimates of $1.62 by ($0.62). Neurocrine Biosciences had a net margin of 14.49% and a return on equity of 13.38%. Equities research analysts expect that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.

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

Analyst Ratings Changes

Several equities research analysts have recently weighed in on NBIX shares. Canaccord Genuity Group lowered their target price on shares of Neurocrine Biosciences from $172.00 to $163.00 and set a “buy” rating on the stock in a report on Friday, February 7th. Barclays upped their target price on shares of Neurocrine Biosciences from $160.00 to $165.00 and gave the stock an “overweight” rating in a report on Monday, December 23rd. Royal Bank of Canada lowered their target price on shares of Neurocrine Biosciences from $154.00 to $148.00 and set a “sector perform” rating on the stock in a report on Friday, February 7th. Bank of America decreased their price objective on shares of Neurocrine Biosciences from $184.00 to $179.00 and set a “buy” rating on the stock in a report on Friday, February 7th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Neurocrine Biosciences in a report on Friday, February 7th. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Neurocrine Biosciences currently has an average rating of “Moderate Buy” and an average target price of $165.24.

Insider Activity at Neurocrine Biosciences

In other Neurocrine Biosciences news, insider Ingrid Delaet sold 272 shares of the firm’s stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $138.10, for a total transaction of $37,563.20. Following the sale, the insider now directly owns 2,507 shares in the company, valued at approximately $346,216.70. This trade represents a 9.79 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Kevin Charles Gorman sold 146,105 shares of the firm’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $149.46, for a total transaction of $21,836,853.30. Following the sale, the director now owns 514,596 shares in the company, valued at $76,911,518.16. This trade represents a 22.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 234,269 shares of company stock worth $34,053,879 in the last ninety days. Company 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.