Allstate Corp Purchases Shares of 2,909 Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Allstate Corp acquired a new stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 2,909 shares of the company’s stock, valued at approximately $397,000.

Several other large investors have also recently modified their holdings of NBIX. Golden State Wealth Management LLC purchased a new position in Neurocrine Biosciences in the 4th quarter worth approximately $25,000. Brooklyn Investment Group grew its holdings in shares of Neurocrine Biosciences by 99.1% in the fourth quarter. Brooklyn Investment Group now owns 231 shares of the company’s stock worth $32,000 after purchasing an additional 115 shares during the last quarter. Lindbrook Capital LLC increased its stake in shares of Neurocrine Biosciences by 53.5% in the fourth quarter. Lindbrook Capital LLC now owns 373 shares of the company’s stock worth $51,000 after buying an additional 130 shares during the period. R Squared Ltd purchased a new position in shares of Neurocrine Biosciences in the fourth quarter worth $61,000. Finally, UMB Bank n.a. raised its holdings in Neurocrine Biosciences by 211.6% during the 4th quarter. UMB Bank n.a. now owns 455 shares of the company’s stock valued at $62,000 after buying an additional 309 shares during the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Piper Sandler restated an “overweight” rating and issued a $160.00 price objective on shares of Neurocrine Biosciences in a research report on Monday, December 23rd. Barclays upped their price target on Neurocrine Biosciences from $160.00 to $165.00 and gave the company an “overweight” rating in a research report on Monday, December 23rd. JPMorgan Chase & Co. lifted their price objective on Neurocrine Biosciences from $183.00 to $184.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 26th. William Blair reissued an “outperform” rating on shares of Neurocrine Biosciences in a research note on Friday, February 7th. Finally, Wedbush dropped their price target on Neurocrine Biosciences from $157.00 to $147.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Five analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $165.38.

Insider Buying and Selling

In other Neurocrine Biosciences news, CEO Kyle Gano sold 65,000 shares of the business’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $141.50, for a total value of $9,197,500.00. Following the completion of the transaction, the chief executive officer now owns 135,392 shares of the company’s stock, valued at approximately $19,157,968. The trade was a 32.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Julie Cooke sold 1,740 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $152.89, for a total transaction of $266,028.60. Following the transaction, the insider now owns 18,202 shares in the company, valued at $2,782,903.78. This represents a 8.73 % decrease in their position. 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 three months. Insiders own 4.30% of the company’s stock.

Neurocrine Biosciences Price Performance

NBIX opened at $108.31 on Thursday. The firm has a market cap of $10.80 billion, a PE ratio of 32.92, a P/E/G ratio of 0.77 and a beta of 0.35. The stock has a 50-day moving average price of $121.97 and a 200-day moving average price of $124.66. Neurocrine Biosciences, Inc. has a 1 year low of $105.18 and a 1 year high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its 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 return on equity of 13.38% and a net margin of 14.49%. As a group, sell-side analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

Neurocrine Biosciences declared that its board has authorized a stock repurchase plan on Friday, February 21st that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 4.2% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

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.