denkapparat Operations GmbH Takes Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

denkapparat Operations GmbH acquired a new position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,086 shares of the company’s stock, valued at approximately $285,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Golden State Wealth Management LLC acquired a new position in shares of Neurocrine Biosciences during the 4th quarter worth about $25,000. Brooklyn Investment Group raised its holdings in shares of Neurocrine Biosciences by 99.1% during the fourth quarter. Brooklyn Investment Group now owns 231 shares of the company’s stock valued at $32,000 after acquiring an additional 115 shares during the last quarter. Lindbrook Capital LLC lifted its position in shares of Neurocrine Biosciences by 53.5% in the fourth quarter. Lindbrook Capital LLC now owns 373 shares of the company’s stock valued at $51,000 after acquiring an additional 130 shares in the last quarter. R Squared Ltd acquired a new stake in shares of Neurocrine Biosciences in the fourth quarter worth approximately $61,000. Finally, UMB Bank n.a. increased its position in shares of Neurocrine Biosciences by 211.6% during the fourth quarter. UMB Bank n.a. now owns 455 shares of the company’s stock worth $62,000 after purchasing an additional 309 shares in the last quarter. 92.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NBIX has been the topic of several recent research reports. Morgan Stanley reaffirmed an “overweight” rating and set a $150.00 target price (down previously from $185.00) on shares of Neurocrine Biosciences in a research note on Friday, March 7th. Deutsche Bank Aktiengesellschaft began coverage on shares of Neurocrine Biosciences in a report on Tuesday, February 11th. They issued a “hold” rating and a $138.00 price objective for the company. Bank of America lowered their target price on Neurocrine Biosciences from $184.00 to $179.00 and set a “buy” rating on the stock 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, Piper Sandler reissued an “overweight” rating and set a $160.00 price objective on shares of Neurocrine Biosciences in a research note on Monday, December 23rd. Five equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $165.38.

Insider Buying and Selling

In other Neurocrine Biosciences news, Director Kevin Charles Gorman sold 5,844 shares of the stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $116.69, for a total value of $681,936.36. Following the sale, the director now directly owns 521,618 shares of the company’s stock, valued at approximately $60,867,604.42. This represents a 1.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Kyle Gano sold 65,000 shares of Neurocrine Biosciences stock in a transaction 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 sale, the chief executive officer now directly owns 135,392 shares of the company’s stock, valued at approximately $19,157,968. This trade represents a 32.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 233,178 shares of company stock worth $33,906,594. Company insiders own 4.30% of the company’s stock.

Neurocrine Biosciences Stock Performance

Shares of NBIX stock opened at $114.00 on Friday. Neurocrine Biosciences, Inc. has a fifty-two week low of $105.18 and a fifty-two week high of $157.98. The company has a 50 day moving average price of $124.77 and a 200 day moving average price of $124.95. The stock has a market capitalization of $11.37 billion, a P/E ratio of 34.65, a price-to-earnings-growth ratio of 0.77 and a beta of 0.35.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings data 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 return on equity of 13.38% and a net margin of 14.49%. On average, research analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

Neurocrine Biosciences declared that its Board of Directors has initiated a share buyback plan on Friday, February 21st that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to repurchase up to 4.2% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership 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.