Proficio Capital Partners LLC Makes New $4.71 Million Investment in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Proficio Capital Partners LLC purchased a new stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 34,535 shares of the company’s stock, valued at approximately $4,714,000.

Other institutional investors have also modified their holdings of the company. State of Alaska Department of Revenue boosted its holdings in Neurocrine Biosciences by 7.3% in the third quarter. State of Alaska Department of Revenue now owns 11,735 shares of the company’s stock valued at $1,352,000 after purchasing an additional 795 shares during the period. Robeco Institutional Asset Management B.V. boosted its stake in shares of Neurocrine Biosciences by 16.0% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 387,282 shares of the company’s stock valued at $44,623,000 after buying an additional 53,301 shares during the period. Asset Management One Co. Ltd. boosted its stake in shares of Neurocrine Biosciences by 2.5% in the 3rd quarter. Asset Management One Co. Ltd. now owns 69,230 shares of the company’s stock valued at $7,977,000 after buying an additional 1,705 shares during the period. QRG Capital Management Inc. grew its position in shares of Neurocrine Biosciences by 3.2% during the third quarter. QRG Capital Management Inc. now owns 18,279 shares of the company’s stock worth $2,106,000 after buying an additional 569 shares in the last quarter. Finally, Impax Asset Management Group plc increased its stake in shares of Neurocrine Biosciences by 70.0% during the third quarter. Impax Asset Management Group plc now owns 85,000 shares of the company’s stock worth $9,794,000 after buying an additional 35,000 shares during the period. Institutional investors and hedge funds own 92.59% of the company’s stock.

Neurocrine Biosciences Trading Down 3.6 %

Shares of NBIX stock opened at $114.48 on Tuesday. The company has a market capitalization of $11.41 billion, a P/E ratio of 34.80, a price-to-earnings-growth ratio of 0.77 and a beta of 0.33. The business’s 50 day moving average is $134.45 and its two-hundred day moving average is $128.02. Neurocrine Biosciences, Inc. has a twelve month low of $110.95 and a twelve 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 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%. As a group, equities analysts predict 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 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 purchase 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 shares are undervalued.

Insider Activity

In other news, insider Julie Cooke sold 700 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $118.28, for a total transaction of $82,796.00. Following the completion of the transaction, the insider now directly owns 18,831 shares of the company’s stock, valued at approximately $2,227,330.68. This represents a 3.58 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Ingrid Delaet sold 1,091 shares of Neurocrine Biosciences stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $135.00, for a total value of $147,285.00. Following the completion of the sale, the insider now owns 2,507 shares in the company, valued at approximately $338,445. This trade represents a 30.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 234,269 shares of company stock valued at $34,053,879 over the last quarter. Corporate insiders own 4.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on NBIX shares. Guggenheim decreased their price target on shares of Neurocrine Biosciences from $165.00 to $163.00 and set a “buy” rating for the company in a research note on Monday, February 10th. Barclays boosted their target price 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. Canaccord Genuity Group cut their price target on Neurocrine Biosciences from $172.00 to $163.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. Royal Bank of Canada lowered their price objective on Neurocrine Biosciences from $154.00 to $148.00 and set a “sector perform” rating for the company in a research report on Friday, February 7th. Finally, Morgan Stanley raised their target price on Neurocrine Biosciences from $170.00 to $185.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. Five 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $166.90.

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.