Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp lifted its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 1.4% in the 4th quarter, Holdings Channel.com reports. The fund owned 870,290 shares of the company’s stock after buying an additional 12,040 shares during the quarter. Bank of New York Mellon Corp’s holdings in Neurocrine Biosciences were worth $118,795,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in NBIX. Blackhawk Capital Partners LLC. acquired a new stake in Neurocrine Biosciences during the 4th quarter valued at $1,334,000. Impax Asset Management Group plc grew its holdings in Neurocrine Biosciences by 207.8% during the 4th quarter. Impax Asset Management Group plc now owns 261,599 shares of the company’s stock valued at $35,708,000 after purchasing an additional 176,599 shares in the last quarter. IFP Advisors Inc grew its holdings in Neurocrine Biosciences by 7.3% during the 4th quarter. IFP Advisors Inc now owns 2,020 shares of the company’s stock valued at $276,000 after purchasing an additional 137 shares in the last quarter. HealthInvest Partners AB grew its holdings in Neurocrine Biosciences by 11.8% during the 4th quarter. HealthInvest Partners AB now owns 67,763 shares of the company’s stock valued at $9,288,000 after purchasing an additional 7,156 shares in the last quarter. Finally, C WorldWide Group Holding A S grew its holdings in Neurocrine Biosciences by 21.1% during the 4th quarter. C WorldWide Group Holding A S now owns 115,000 shares of the company’s stock valued at $15,698,000 after purchasing an additional 20,000 shares in the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on NBIX shares. Guggenheim lowered their price target on shares of Neurocrine Biosciences from $165.00 to $163.00 and set a “buy” rating for the company in a report on Monday, February 10th. StockNews.com downgraded shares of Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 18th. William Blair reiterated an “outperform” rating on shares of Neurocrine Biosciences in a research note on Friday, February 7th. Morgan Stanley increased their price objective on shares of Neurocrine Biosciences from $170.00 to $185.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. Finally, Canaccord Genuity Group reduced 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 note on Friday, February 7th. Five analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $166.90.

Neurocrine Biosciences Stock Up 1.0 %

Shares of NASDAQ:NBIX opened at $118.72 on Friday. The company has a market cap of $11.84 billion, a PE ratio of 36.08, a P/E/G ratio of 0.77 and a beta of 0.33. The company’s 50-day moving average price is $134.90 and its 200 day moving average price is $128.38. Neurocrine Biosciences, Inc. has a fifty-two week low of $110.95 and a fifty-two week 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 for the quarter, missing the consensus estimate 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, equities analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

Neurocrine Biosciences declared that its board has approved a stock buyback plan on Friday, February 21st that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 4.2% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Insider Activity at Neurocrine Biosciences

In related news, CEO Kyle Gano sold 65,000 shares of Neurocrine Biosciences stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $141.50, for a total value 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 SEC, which is available through this hyperlink. Also, insider Ingrid Delaet sold 272 shares of the firm’s 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 in the company, valued at approximately $346,216.70. The trade was a 9.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 234,269 shares of company stock worth $34,053,879 in the last ninety days. 4.30% of the stock is owned by 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.