Prudential Financial Inc. Boosts Stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Prudential Financial Inc. boosted its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 18.9% in the 4th quarter, Holdings Channel reports. The fund owned 210,175 shares of the company’s stock after acquiring an additional 33,450 shares during the quarter. Prudential Financial Inc.’s holdings in Neurocrine Biosciences were worth $28,689,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of NBIX. Golden State Wealth Management LLC purchased a new stake in shares of Neurocrine Biosciences in the fourth quarter valued at approximately $25,000. Brooklyn Investment Group boosted its stake in Neurocrine Biosciences by 99.1% during the fourth quarter. Brooklyn Investment Group now owns 231 shares of the company’s stock worth $32,000 after buying an additional 115 shares during the last quarter. Lindbrook Capital LLC grew its holdings 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 buying an additional 130 shares in the last quarter. R Squared Ltd acquired a new stake in shares of Neurocrine Biosciences in the 4th quarter worth $61,000. Finally, UMB Bank n.a. raised its holdings in shares of Neurocrine Biosciences by 211.6% during the 4th quarter. UMB Bank n.a. now owns 455 shares of the company’s stock worth $62,000 after acquiring an additional 309 shares during the period. Institutional investors and hedge funds own 92.59% of the company’s stock.

Wall Street Analysts Forecast Growth

NBIX has been the subject of a number of analyst reports. Canaccord Genuity Group dropped their price objective on shares of Neurocrine Biosciences from $172.00 to $163.00 and set a “buy” rating for the company in a report on Friday, February 7th. William Blair reissued an “outperform” rating on shares of Neurocrine Biosciences in a research note on Friday, February 7th. StockNews.com lowered shares of Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 20th. Guggenheim lowered their price objective on Neurocrine Biosciences from $165.00 to $163.00 and set a “buy” rating for the company in a research report on Monday, February 10th. Finally, Needham & Company LLC restated a “hold” rating on shares of Neurocrine Biosciences in a research report on Friday, February 7th. Five research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $165.24.

Neurocrine Biosciences Stock Up 0.5 %

Neurocrine Biosciences stock opened at $116.18 on Wednesday. The company’s 50 day moving average is $125.89 and its two-hundred day moving average is $125.10. The firm has a market cap of $11.58 billion, a PE ratio of 35.31, a price-to-earnings-growth ratio of 0.77 and a beta of 0.35. Neurocrine Biosciences, Inc. has a 52-week low of $105.18 and a 52-week high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX) last released its earnings results on Thursday, February 6th. The company reported $1.00 earnings per share (EPS) 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%. On average, equities research analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

Neurocrine Biosciences announced that its board has authorized a share 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 buy up to 4.2% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Activity

In related news, CEO Kyle Gano sold 65,000 shares of the business’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $141.50, for a total transaction of $9,197,500.00. Following the completion of the transaction, the chief executive officer now owns 135,392 shares in the company, valued at approximately $19,157,968. The trade was a 32.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Ingrid Delaet sold 272 shares of the stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $138.10, for a total value of $37,563.20. Following the completion of the transaction, the insider now directly owns 2,507 shares in the company, valued at $346,216.70. This trade represents a 9.79 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 233,178 shares of company stock worth $33,906,594. 4.30% of the stock is currently owned by company insiders.

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.