Rockefeller Capital Management L.P. Grows Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Rockefeller Capital Management L.P. boosted its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 2.8% during the fourth quarter, Holdings Channel reports. The fund owned 19,870 shares of the company’s stock after acquiring an additional 549 shares during the period. Rockefeller Capital Management L.P.’s holdings in Neurocrine Biosciences were worth $2,712,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of NBIX. Golden State Wealth Management LLC purchased a new stake in Neurocrine Biosciences in the fourth quarter worth about $25,000. Huntington National Bank raised its holdings in Neurocrine Biosciences by 73.5% in the fourth quarter. Huntington National Bank now owns 229 shares of the company’s stock worth $31,000 after purchasing an additional 97 shares in the last quarter. Brooklyn Investment Group lifted its position in Neurocrine Biosciences by 99.1% during the fourth quarter. Brooklyn Investment Group now owns 231 shares of the company’s stock valued at $32,000 after buying an additional 115 shares during the period. Lindbrook Capital LLC boosted its holdings in shares of Neurocrine Biosciences by 53.5% during the 4th quarter. Lindbrook Capital LLC now owns 373 shares of the company’s stock valued at $51,000 after buying an additional 130 shares in the last quarter. Finally, R Squared Ltd purchased a new stake in shares of Neurocrine Biosciences in the 4th quarter worth about $61,000. Institutional investors own 92.59% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Piper Sandler restated an “overweight” rating and issued a $160.00 price objective on shares of Neurocrine Biosciences in a report on Monday, December 23rd. HC Wainwright reissued a “buy” rating and issued a $185.00 target price on shares of Neurocrine Biosciences in a report on Friday, February 21st. Canaccord Genuity Group reduced their price target on Neurocrine Biosciences from $172.00 to $163.00 and set a “buy” rating for the company in a report on Friday, February 7th. Guggenheim dropped their price target on shares of Neurocrine Biosciences from $165.00 to $163.00 and set a “buy” rating on the stock in a research note on Monday, February 10th. Finally, UBS Group decreased their target price on shares of Neurocrine Biosciences from $154.00 to $137.00 and set a “buy” rating for the company in a report on Friday, April 4th. Three research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $161.86.

Insider Activity

In related news, Director Kevin Charles Gorman sold 146,105 shares of Neurocrine Biosciences stock in a transaction on Monday, January 27th. The shares were sold at an average price of $149.46, for a total transaction of $21,836,853.30. Following the transaction, the director now owns 514,596 shares in the company, valued at approximately $76,911,518.16. The trade was a 22.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Julie Cooke sold 1,740 shares of the stock in a transaction on Friday, January 31st. The stock was sold at an average price of $152.89, for a total value of $266,028.60. Following the completion of the sale, the insider now owns 18,202 shares of the company’s stock, valued at $2,782,903.78. The trade was a 8.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 167,906 shares of company stock valued at $24,671,530 in the last ninety days. Corporate insiders own 4.30% of the company’s stock.

Neurocrine Biosciences Trading Up 1.3 %

Shares of NBIX stock opened at $101.38 on Friday. Neurocrine Biosciences, Inc. has a 12 month low of $84.23 and a 12 month high of $157.98. The stock has a market cap of $10.03 billion, a P/E ratio of 30.81, a P/E/G ratio of 0.77 and a beta of 0.33. The company has a 50 day simple moving average of $108.35 and a two-hundred day simple moving average of $122.45.

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%. As a group, equities analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.

Neurocrine Biosciences announced that its board has initiated a stock repurchase program on Friday, February 21st that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to reacquire up to 4.2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is 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.