Geode Capital Management LLC Acquires 15,830 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Geode Capital Management LLC increased its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 0.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,875,062 shares of the company’s stock after acquiring an additional 15,830 shares during the quarter. Geode Capital Management LLC owned approximately 1.85% of Neurocrine Biosciences worth $255,523,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Golden State Wealth Management LLC purchased a new position in shares of Neurocrine Biosciences in the 4th quarter worth about $25,000. Brooklyn Investment Group grew its stake in Neurocrine Biosciences by 99.1% in the 4th quarter. Brooklyn Investment Group now owns 231 shares of the company’s stock valued at $32,000 after buying an additional 115 shares in the last quarter. Lindbrook Capital LLC grew its holdings in Neurocrine Biosciences by 53.5% during 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 bought a new stake in Neurocrine Biosciences during the 4th quarter worth approximately $61,000. Finally, UMB Bank n.a. increased its holdings in shares of Neurocrine Biosciences by 211.6% in 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 during the period. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Insider Activity

In other Neurocrine Biosciences news, insider Julie Cooke sold 1,551 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $116.78, for a total transaction of $181,125.78. Following the completion of the transaction, the insider now owns 19,544 shares of the company’s stock, valued at approximately $2,282,348.32. This trade represents a 7.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kevin Charles Gorman sold 2,707 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $152.92, for a total value of $413,954.44. Following the completion of the sale, the director now directly owns 517,030 shares in the company, valued at approximately $79,064,227.60. This represents a 0.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 232,906 shares of company stock worth $33,869,030 in the last quarter. 4.30% of the stock is owned by company insiders.

Neurocrine Biosciences Trading Down 7.0 %

Shares of Neurocrine Biosciences stock opened at $95.65 on Friday. Neurocrine Biosciences, Inc. has a 12-month low of $93.59 and a 12-month high of $157.98. The company has a market cap of $9.54 billion, a P/E ratio of 29.07, a PEG ratio of 0.77 and a beta of 0.33. The company’s fifty day simple moving average is $120.01 and its two-hundred day simple moving average is $124.34.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings results 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%. Analysts predict that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

Neurocrine Biosciences announced that its board has approved a share repurchase program on Friday, February 21st that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 4.2% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several brokerages have recently commented on NBIX. Canaccord Genuity Group cut their price objective on Neurocrine Biosciences from $172.00 to $163.00 and set a “buy” rating for the company in a report on Friday, February 7th. Guggenheim decreased their price target on shares of Neurocrine Biosciences from $165.00 to $163.00 and set a “buy” rating on the stock in a report on Monday, February 10th. Needham & Company LLC reaffirmed a “hold” rating on shares of Neurocrine Biosciences in a report on Friday, February 7th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Neurocrine Biosciences in a research report on Tuesday, February 11th. They issued a “hold” rating and a $138.00 target price for the company. Finally, Bank of America lowered their price target on Neurocrine Biosciences from $184.00 to $179.00 and set a “buy” rating on the stock in a research report on Friday, February 7th. Five research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $163.52.

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.