Philadelphia Trust Co. Acquires 29,685 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Philadelphia Trust Co. increased its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 441.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 36,410 shares of the company’s stock after purchasing an additional 29,685 shares during the quarter. Philadelphia Trust Co.’s holdings in Neurocrine Biosciences were worth $4,970,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Raymond James Financial Inc. purchased a new stake in shares of Neurocrine Biosciences in the fourth quarter worth $115,193,000. Wellington Management Group LLP lifted its position in shares of Neurocrine Biosciences by 102.9% in the fourth quarter. Wellington Management Group LLP now owns 1,457,425 shares of the company’s stock valued at $198,939,000 after acquiring an additional 739,199 shares in the last quarter. Thrivent Financial for Lutherans grew its position in shares of Neurocrine Biosciences by 2,759.4% during the fourth quarter. Thrivent Financial for Lutherans now owns 737,772 shares of the company’s stock worth $100,705,000 after purchasing an additional 711,970 shares in the last quarter. Jennison Associates LLC grew its position in shares of Neurocrine Biosciences by 145.1% during the fourth quarter. Jennison Associates LLC now owns 820,694 shares of the company’s stock worth $112,025,000 after purchasing an additional 485,894 shares in the last quarter. Finally, Norges Bank purchased a new position in Neurocrine Biosciences in the 4th quarter worth approximately $44,403,000. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Neurocrine Biosciences Trading Up 0.2 %

Shares of NASDAQ:NBIX opened at $90.87 on Friday. Neurocrine Biosciences, Inc. has a twelve month low of $84.23 and a twelve month high of $157.98. The company has a market cap of $9.06 billion, a PE ratio of 27.62, a price-to-earnings-growth ratio of 0.77 and a beta of 0.33. The company’s 50 day moving average is $111.68 and its 200 day moving average is $123.01.

Neurocrine Biosciences (NASDAQ:NBIX) last issued 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 return on equity of 13.38% and a net margin of 14.49%. Equities research analysts predict that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

Neurocrine Biosciences declared that its board has authorized a share repurchase program on Friday, February 21st that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to purchase up to 4.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on NBIX. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Neurocrine Biosciences in a research report on Tuesday, February 11th. They set a “hold” rating and a $138.00 price objective on the stock. Royal Bank of Canada reduced their target price on Neurocrine Biosciences from $154.00 to $148.00 and set a “sector perform” rating on the stock in a report on Friday, February 7th. UBS Group dropped their price target on Neurocrine Biosciences from $154.00 to $137.00 and set a “buy” rating for the company in a research report on Friday, April 4th. Needham & Company LLC reiterated a “hold” rating on shares of Neurocrine Biosciences in a report on Friday, February 7th. Finally, Wedbush reduced their price target on Neurocrine Biosciences from $157.00 to $147.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. 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 stock. Based on data from MarketBeat.com, Neurocrine Biosciences presently has a consensus rating of “Moderate Buy” and a consensus price target of $163.52.

Insider Activity

In other Neurocrine Biosciences news, Director Kevin Charles Gorman sold 2,707 shares of the firm’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 sale, the director now directly owns 517,030 shares of the company’s stock, valued at approximately $79,064,227.60. This trade represents a 0.52 % 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 hyperlink. Also, insider Ingrid Delaet sold 623 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $149.29, for a total transaction of $93,007.67. Following the transaction, the insider now directly owns 3,442 shares in the company, valued at approximately $513,856.18. The trade was a 15.33 % 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 valued at $33,869,030 in the last three months. 4.30% of the stock is currently owned by corporate insiders.

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.