Signaturefd LLC Boosts Stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Signaturefd LLC grew its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 6.3% during the fourth quarter, Holdings Channel reports. The fund owned 2,801 shares of the company’s stock after purchasing an additional 165 shares during the period. Signaturefd LLC’s holdings in Neurocrine Biosciences were worth $382,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in NBIX. Raymond James Financial Inc. purchased a new position in shares of Neurocrine Biosciences during the 4th quarter worth approximately $115,193,000. State Street Corp grew its stake in shares of Neurocrine Biosciences by 11.7% in the 3rd quarter. State Street Corp now owns 5,148,293 shares of the company’s stock worth $593,186,000 after buying an additional 539,936 shares during the last quarter. Jennison Associates LLC grew its stake in shares of Neurocrine Biosciences by 145.1% in the 4th quarter. Jennison Associates LLC now owns 820,694 shares of the company’s stock worth $112,025,000 after buying an additional 485,894 shares during the last quarter. Impax Asset Management Group plc grew its stake in shares of Neurocrine Biosciences by 207.8% in the 4th quarter. Impax Asset Management Group plc now owns 261,599 shares of the company’s stock worth $35,708,000 after buying an additional 176,599 shares during the last quarter. Finally, Braidwell LP grew its stake in shares of Neurocrine Biosciences by 20.9% in the 3rd quarter. Braidwell LP now owns 917,674 shares of the company’s stock worth $105,734,000 after buying an additional 158,665 shares during the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Neurocrine Biosciences Stock Performance

Shares of Neurocrine Biosciences stock opened at $110.07 on Friday. Neurocrine Biosciences, Inc. has a one year low of $105.18 and a one year high of $157.98. The stock’s fifty day moving average is $127.48 and its 200 day moving average is $125.25. The stock has a market cap of $10.97 billion, a P/E ratio of 33.46, a P/E/G ratio of 0.77 and a beta of 0.35.

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

Neurocrine Biosciences announced that its board has approved a share buyback plan on Friday, February 21st that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 4.2% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. 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 cut their price target on Neurocrine Biosciences from $154.00 to $148.00 and set a “sector perform” rating on the stock in a research note on Friday, February 7th. Bank of America cut their price target on Neurocrine Biosciences from $184.00 to $179.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. HC Wainwright restated a “buy” rating and issued a $185.00 price target on shares of Neurocrine Biosciences in a research note on Friday, February 21st. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Neurocrine Biosciences in a research note on Tuesday, February 11th. They set a “hold” rating and a $138.00 target price on the stock. Five investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $165.24.

Insider Buying and Selling

In other Neurocrine Biosciences news, insider Julie Cooke sold 1,740 shares of the firm’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $152.89, for a total transaction of $266,028.60. Following the sale, the insider now directly owns 18,202 shares of the company’s stock, valued at $2,782,903.78. This trade represents a 8.73 % 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 firm’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $116.69, for a total value of $681,936.36. Following the sale, the director now directly owns 521,618 shares in the company, valued at approximately $60,867,604.42. This represents a 1.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 233,178 shares of company stock valued at $33,906,594. 4.30% of the stock is owned by company 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.