48,000 Shares in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Purchased by Atika Capital Management LLC

Atika Capital Management LLC acquired a new stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 48,000 shares of the company’s stock, valued at approximately $6,552,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in NBIX. Caprock Group LLC bought a new stake in shares of Neurocrine Biosciences during the fourth quarter valued at approximately $236,000. Charles Schwab Investment Management Inc. grew its position in shares of Neurocrine Biosciences by 2.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 762,557 shares of the company’s stock worth $104,089,000 after buying an additional 15,266 shares during the period. Tri Ri Asset Management Corp bought a new position in shares of Neurocrine Biosciences in the 3rd quarter worth about $3,236,000. Oakworth Capital Inc. purchased a new position in Neurocrine Biosciences during the 4th quarter valued at about $379,000. Finally, Synergy Asset Management LLC bought a new stake in Neurocrine Biosciences during the fourth quarter worth about $996,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on NBIX shares. Piper Sandler reiterated an “overweight” rating and set a $160.00 target price on shares of Neurocrine Biosciences in a report on Monday, December 23rd. UBS Group dropped their target price on Neurocrine Biosciences from $154.00 to $137.00 and set a “buy” rating on the stock in a report on Friday. Barclays lifted their price target on Neurocrine Biosciences from $160.00 to $165.00 and gave the stock an “overweight” rating in a research report on Monday, December 23rd. Needham & Company LLC reissued a “hold” rating on shares of Neurocrine Biosciences in a research report on Friday, February 7th. Finally, Canaccord Genuity Group reduced their price objective on shares of Neurocrine Biosciences from $172.00 to $163.00 and set a “buy” 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 assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $163.52.

Insider Transactions at Neurocrine Biosciences

In other news, CEO Kyle Gano sold 65,000 shares of the firm’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $141.50, for a total transaction of $9,197,500.00. Following the sale, the chief executive officer now directly owns 135,392 shares in the company, valued at $19,157,968. This trade represents a 32.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Julie Cooke sold 1,740 shares of the company’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $152.89, for a total transaction of $266,028.60. Following the completion of the transaction, the insider now directly owns 18,202 shares of the company’s stock, 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 have sold 232,906 shares of company stock valued at $33,869,030 over the last quarter. 4.30% of the stock is currently owned by company insiders.

Neurocrine Biosciences Trading Down 7.0 %

NBIX opened at $95.65 on Friday. The company’s 50 day moving average is $120.01 and its 200 day moving average is $124.34. The company has a market cap of $9.54 billion, a price-to-earnings ratio of 29.07, a PEG ratio of 0.77 and a beta of 0.33. Neurocrine Biosciences, Inc. has a 12-month low of $93.59 and a 12-month high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings data on Thursday, February 6th. The company reported $1.00 earnings per share (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%. As a group, analysts predict that Neurocrine Biosciences, Inc. will post 4.28 EPS 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 repurchase $500.00 million in shares. This repurchase authorization allows the company to reacquire up to 4.2% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

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.