Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Stake Boosted by Eagle Health Investments LP

Eagle Health Investments LP grew its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 20.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 155,000 shares of the company’s stock after acquiring an additional 26,400 shares during the period. Neurocrine Biosciences comprises 5.2% of Eagle Health Investments LP’s investment portfolio, making the stock its 10th biggest position. Eagle Health Investments LP’s holdings in Neurocrine Biosciences were worth $21,158,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of NBIX. Elo Mutual Pension Insurance Co bought a new position in Neurocrine Biosciences during the fourth quarter valued at $1,509,000. WINTON GROUP Ltd purchased a new stake in Neurocrine Biosciences during the fourth quarter valued at about $1,027,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Neurocrine Biosciences by 13.4% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 76,922 shares of the company’s stock worth $10,623,000 after purchasing an additional 9,086 shares during the period. Segall Bryant & Hamill LLC raised its position in shares of Neurocrine Biosciences by 28.5% in the fourth quarter. Segall Bryant & Hamill LLC now owns 46,870 shares of the company’s stock valued at $6,398,000 after purchasing an additional 10,398 shares during the period. Finally, Prudential Financial Inc. lifted its stake in shares of Neurocrine Biosciences by 18.9% during the 4th quarter. Prudential Financial Inc. now owns 210,175 shares of the company’s stock valued at $28,689,000 after buying an additional 33,450 shares in the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Insider Activity at Neurocrine Biosciences

In other news, CFO Matt Abernethy sold 1,283 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $152.87, for a total value of $196,132.21. Following the sale, the chief financial officer now directly owns 32,681 shares of the company’s stock, valued at $4,995,944.47. This represents a 3.78 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ingrid Delaet sold 272 shares of Neurocrine Biosciences stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $138.10, for a total transaction of $37,563.20. Following the transaction, the insider now directly owns 2,507 shares of the company’s stock, valued at approximately $346,216.70. This trade represents a 9.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 233,178 shares of company stock worth $33,906,594 over the last ninety days. 4.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

NBIX has been the topic of a number of analyst reports. William Blair reissued an “outperform” rating on shares of Neurocrine Biosciences in a report on Friday, February 7th. StockNews.com cut Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 20th. Piper Sandler reissued an “overweight” rating and issued a $160.00 price target on shares of Neurocrine Biosciences in a report on Monday, December 23rd. Canaccord Genuity Group decreased their price objective on shares of Neurocrine Biosciences from $172.00 to $163.00 and set a “buy” rating on the stock in a research report on Friday, February 7th. Finally, Royal Bank of Canada dropped their price target on Neurocrine Biosciences from $154.00 to $148.00 and set a “sector perform” 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 MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $165.38.

Neurocrine Biosciences Trading Down 1.5 %

Shares of NASDAQ NBIX opened at $114.45 on Thursday. The firm has a fifty day simple moving average of $125.33 and a two-hundred day simple moving average of $125.02. Neurocrine Biosciences, Inc. has a 12 month low of $105.18 and a 12 month high of $157.98. The firm has a market capitalization of $11.41 billion, a PE ratio of 34.79, a price-to-earnings-growth ratio of 0.77 and a beta of 0.35.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings data on Thursday, February 6th. The company reported $1.00 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%. On average, sell-side analysts predict that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.

Neurocrine Biosciences announced that its board has approved a stock buyback program on Friday, February 21st that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 4.2% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management 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.