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

Proficio Capital Partners LLC bought a new stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 34,535 shares of the company’s stock, valued at approximately $4,714,000.

Several other large investors have also recently made changes to their positions in the company. Golden State Wealth Management LLC purchased a new position in Neurocrine Biosciences in the fourth quarter valued at $25,000. Brooklyn Investment Group grew its position in shares of Neurocrine Biosciences by 99.1% during the 4th 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 period. R Squared Ltd purchased a new position in shares of Neurocrine Biosciences in the 4th quarter valued at about $61,000. UMB Bank n.a. raised its holdings in Neurocrine Biosciences by 211.6% in the 4th 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. Finally, Truvestments Capital LLC purchased a new position in Neurocrine Biosciences during the third quarter worth approximately $63,000. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NBIX has been the subject of a number of recent analyst reports. Morgan Stanley boosted their price objective on Neurocrine Biosciences from $170.00 to $185.00 and gave the company an “overweight” rating in a research report on Tuesday, February 4th. Wedbush reduced their price objective on shares of Neurocrine Biosciences from $157.00 to $147.00 and set an “outperform” rating for the company in a research report on Friday, February 7th. Canaccord Genuity Group dropped their target price on shares of Neurocrine Biosciences from $172.00 to $163.00 and set a “buy” rating on the stock in a research report on Friday, February 7th. UBS Group upped their price target on shares of Neurocrine Biosciences from $162.00 to $176.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Finally, Guggenheim lowered their price objective on Neurocrine Biosciences from $165.00 to $163.00 and set a “buy” rating on the stock in a report on Monday, February 10th. Five investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $166.90.

Neurocrine Biosciences Stock Performance

NBIX stock opened at $114.48 on Tuesday. Neurocrine Biosciences, Inc. has a one year low of $110.95 and a one year high of $157.98. The firm has a market cap of $11.41 billion, a PE ratio of 34.80, a PEG ratio of 0.77 and a beta of 0.33. The firm’s 50 day moving average price is $134.45 and its 200-day moving average price is $128.02.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its earnings results on Thursday, February 6th. The company reported $1.00 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%. Equities research analysts predict that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

Neurocrine Biosciences declared that its Board of Directors has approved a share repurchase plan on Friday, February 21st that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to repurchase up to 4.2% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity at Neurocrine Biosciences

In other news, insider Ingrid Delaet sold 272 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now directly owns 2,507 shares in the company, valued at approximately $346,216.70. This represents a 9.79 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Kyle Gano sold 65,000 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 135,392 shares of the company’s stock, valued at $19,157,968. The trade was a 32.44 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 234,269 shares of company stock worth $34,053,879. Company insiders own 4.30% of the company’s stock.

Neurocrine Biosciences 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.