11,054 Shares in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Bought by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co acquired a new stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) in the fourth quarter, HoldingsChannel reports. The fund acquired 11,054 shares of the company’s stock, valued at approximately $1,509,000.

Several other institutional investors also recently modified their holdings of NBIX. Vanguard Group Inc. grew its holdings in Neurocrine Biosciences by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 10,119,641 shares of the company’s stock worth $1,381,331,000 after purchasing an additional 122,681 shares during the period. State Street Corp lifted its position in shares of Neurocrine Biosciences by 11.7% in the third quarter. State Street Corp now owns 5,148,293 shares of the company’s stock valued at $593,186,000 after buying an additional 539,936 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Neurocrine Biosciences by 2.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,859,232 shares of the company’s stock worth $213,773,000 after acquiring an additional 39,610 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Neurocrine Biosciences by 1.4% during the 4th quarter. Bank of New York Mellon Corp now owns 870,290 shares of the company’s stock worth $118,795,000 after acquiring an additional 12,040 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Neurocrine Biosciences in the 4th quarter valued at $115,193,000. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Julie Cooke sold 1,551 shares of Neurocrine Biosciences stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $116.78, for a total value of $181,125.78. Following the transaction, the insider now directly owns 19,544 shares of the company’s stock, valued at $2,282,348.32. The trade was a 7.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $681,936.36. Following the sale, the director now directly owns 521,618 shares of the company’s stock, valued at $60,867,604.42. This represents a 1.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 233,178 shares of company stock worth $33,906,594 in the last ninety days. Company insiders own 4.30% of the company’s stock.

Wall Street Analyst Weigh In

NBIX has been the subject of a number of research analyst reports. Piper Sandler reaffirmed an “overweight” rating and set a $160.00 price objective on shares of Neurocrine Biosciences in a research report on Monday, December 23rd. William Blair restated an “outperform” rating on shares of Neurocrine Biosciences in a research report on Friday, February 7th. Deutsche Bank Aktiengesellschaft began coverage on Neurocrine Biosciences in a research report on Tuesday, February 11th. They issued a “hold” rating and a $138.00 target price on the stock. Barclays lifted their price target on Neurocrine Biosciences from $160.00 to $165.00 and gave the stock an “overweight” rating in a report on Monday, December 23rd. Finally, StockNews.com lowered Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 20th. Five 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 stock. Based on data from MarketBeat, Neurocrine Biosciences currently has an average rating of “Moderate Buy” and an average price target of $165.38.

Neurocrine Biosciences Stock Performance

Shares of NBIX opened at $113.16 on Friday. Neurocrine Biosciences, Inc. has a 52-week low of $105.18 and a 52-week high of $157.98. The firm has a market cap of $11.28 billion, a price-to-earnings ratio of 34.40, a PEG ratio of 0.77 and a beta of 0.35. The business’s fifty day moving average is $124.17 and its 200-day moving average is $124.94.

Neurocrine Biosciences (NASDAQ:NBIX) last issued 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%. As a group, research analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

Neurocrine Biosciences announced that its board has authorized a stock buyback program 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 programs are usually an indication that the company’s leadership believes its stock is undervalued.

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.