Poinciana Advisors Group LLC Acquires Shares of 2,003 Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Poinciana Advisors Group LLC acquired a new stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,003 shares of the company’s stock, valued at approximately $273,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Caprock Group LLC acquired a new stake in shares of Neurocrine Biosciences in the 4th quarter valued at about $236,000. Charles Schwab Investment Management Inc. raised its stake in shares of Neurocrine Biosciences by 2.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 762,557 shares of the company’s stock valued at $104,089,000 after purchasing an additional 15,266 shares in the last quarter. Plato Investment Management Ltd raised its stake in shares of Neurocrine Biosciences by 2,481.9% in the 3rd quarter. Plato Investment Management Ltd now owns 10,973 shares of the company’s stock valued at $1,263,000 after purchasing an additional 10,548 shares in the last quarter. Swiss National Bank raised its stake in shares of Neurocrine Biosciences by 1.4% in the 3rd quarter. Swiss National Bank now owns 298,700 shares of the company’s stock valued at $34,416,000 after purchasing an additional 4,100 shares in the last quarter. Finally, Tri Ri Asset Management Corp acquired a new stake in shares of Neurocrine Biosciences in the 3rd quarter valued at about $3,236,000. 92.59% of the stock is owned by hedge funds and other institutional investors.

Neurocrine Biosciences Price Performance

Neurocrine Biosciences stock opened at $110.75 on Friday. The firm has a 50 day simple moving average of $129.69 and a 200-day simple moving average of $125.88. The stock has a market capitalization of $11.04 billion, a PE ratio of 33.66, a price-to-earnings-growth ratio of 0.77 and a beta of 0.35. Neurocrine Biosciences, Inc. has a 12-month low of $105.18 and a 12-month high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings data 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 net margin of 14.49% and a return on equity of 13.38%. On average, analysts forecast 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 approved 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 often an indication that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on NBIX shares. Bank of America cut their target price on shares of Neurocrine Biosciences from $184.00 to $179.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. Piper Sandler reiterated an “overweight” rating and set a $160.00 price objective on shares of Neurocrine Biosciences in a research note on Monday, December 23rd. Morgan Stanley reiterated an “overweight” rating and set a $150.00 price objective (down previously from $185.00) on shares of Neurocrine Biosciences in a research note on Friday, March 7th. Barclays increased their price objective on shares of Neurocrine Biosciences from $160.00 to $165.00 and gave the stock an “overweight” rating in a research note on Monday, December 23rd. Finally, William Blair reiterated an “outperform” rating on shares of Neurocrine Biosciences in a research note on Friday, February 7th. Five research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $165.24.

Insider Buying and Selling

In related news, insider Julie Cooke sold 1,740 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $152.89, for a total transaction of $266,028.60. Following the completion of the sale, the insider now directly owns 18,202 shares in the company, valued at approximately $2,782,903.78. This trade represents a 8.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Ingrid Delaet sold 1,091 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $135.00, for a total transaction of $147,285.00. Following the sale, the insider now owns 2,507 shares of the company’s stock, valued at $338,445. The trade was a 30.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 234,269 shares of company stock worth $34,053,879. Corporate insiders own 4.30% of the company’s stock.

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.