Blackhawk Capital Partners LLC. Invests $1.33 Million in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Blackhawk Capital Partners LLC. bought a new stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 9,771 shares of the company’s stock, valued at approximately $1,334,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp raised its holdings 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 purchasing an additional 539,936 shares during the period. Jennison Associates LLC raised its holdings in Neurocrine Biosciences by 145.1% in the fourth quarter. Jennison Associates LLC now owns 820,694 shares of the company’s stock valued at $112,025,000 after buying an additional 485,894 shares during the period. Los Angeles Capital Management LLC lifted its position in Neurocrine Biosciences by 639.6% during the third quarter. Los Angeles Capital Management LLC now owns 420,748 shares of the company’s stock valued at $48,479,000 after buying an additional 363,863 shares in the last quarter. Impax Asset Management Group plc lifted its position in Neurocrine Biosciences by 207.8% during the fourth quarter. Impax Asset Management Group plc now owns 261,599 shares of the company’s stock valued at $35,708,000 after buying an additional 176,599 shares in the last quarter. Finally, Braidwell LP grew its stake in Neurocrine Biosciences by 20.9% during the third 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 period. Institutional investors and hedge funds own 92.59% of the company’s stock.

Wall Street Analysts Forecast Growth

NBIX has been the topic of a number of research reports. Bank of America cut their target price on shares of Neurocrine Biosciences from $184.00 to $179.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. Guggenheim cut their price objective on Neurocrine Biosciences from $165.00 to $163.00 and set a “buy” rating on the stock in a research report on Monday, February 10th. William Blair reaffirmed an “outperform” rating on shares of Neurocrine Biosciences in a research report on Friday, February 7th. Royal Bank of Canada lowered their target price 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. Finally, Deutsche Bank Aktiengesellschaft started coverage on Neurocrine Biosciences in a research report on Tuesday, February 11th. They set a “hold” rating and a $138.00 price target on the stock. Five investment 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 company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $166.90.

Neurocrine Biosciences Stock Performance

Shares of NBIX stock opened at $119.11 on Tuesday. Neurocrine Biosciences, Inc. has a one year low of $110.95 and a one year high of $157.98. The company’s 50-day simple moving average is $136.35 and its 200-day simple moving average is $129.11. The stock has a market capitalization of $11.88 billion, a price-to-earnings ratio of 36.20, a PEG ratio of 0.77 and a beta of 0.33.

Neurocrine Biosciences (NASDAQ:NBIX) last released 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, research analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

Neurocrine Biosciences announced that its Board of Directors has initiated a stock repurchase program on Friday, February 21st that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 4.2% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other Neurocrine Biosciences news, insider Ingrid Delaet sold 1,091 shares of the stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $135.00, for a total transaction of $147,285.00. Following the sale, the insider now directly owns 2,507 shares of the company’s stock, valued at approximately $338,445. This represents a 30.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kevin Charles Gorman sold 2,707 shares of the business’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $152.92, for a total transaction of $413,954.44. Following the sale, the director now directly owns 517,030 shares of the company’s stock, valued at approximately $79,064,227.60. This represents a 0.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 236,600 shares of company stock valued at $34,348,261 over the last 90 days. 4.30% of the stock is owned by company insiders.

Neurocrine Biosciences 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.