Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Shares Bought by First Financial Bankshares Inc

First Financial Bankshares Inc lifted its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 51.9% during the 4th quarter, HoldingsChannel reports. The firm owned 26,942 shares of the company’s stock after purchasing an additional 9,208 shares during the quarter. First Financial Bankshares Inc’s holdings in Neurocrine Biosciences were worth $3,678,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Golden State Wealth Management LLC purchased a new position in Neurocrine Biosciences during the fourth quarter worth approximately $25,000. Brooklyn Investment Group grew its holdings in shares of Neurocrine Biosciences by 99.1% in the fourth quarter. Brooklyn Investment Group now owns 231 shares of the company’s stock valued at $32,000 after purchasing an additional 115 shares during the period. Lindbrook Capital LLC increased its position in Neurocrine Biosciences by 53.5% during the fourth quarter. Lindbrook Capital LLC now owns 373 shares of the company’s stock worth $51,000 after purchasing an additional 130 shares during the last quarter. R Squared Ltd purchased a new position in Neurocrine Biosciences during the fourth quarter worth about $61,000. Finally, UMB Bank n.a. boosted its holdings in Neurocrine Biosciences by 211.6% in the 4th quarter. UMB Bank n.a. now owns 455 shares of the company’s stock valued at $62,000 after purchasing an additional 309 shares during the last quarter. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Neurocrine Biosciences Trading Down 1.6 %

NASDAQ:NBIX opened at $109.70 on Wednesday. Neurocrine Biosciences, Inc. has a 12-month low of $105.18 and a 12-month high of $157.98. The firm has a market cap of $10.94 billion, a PE ratio of 33.34, a price-to-earnings-growth ratio of 0.77 and a beta of 0.35. The stock has a fifty day moving average price of $128.62 and a 200 day moving average price of $125.47.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings data on Thursday, February 6th. The company reported $1.00 earnings per share (EPS) 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%. Equities analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

Neurocrine Biosciences announced that its board has authorized 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 an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

NBIX has been the subject of a number of recent analyst reports. Piper Sandler restated an “overweight” rating and set a $160.00 price target on shares of Neurocrine Biosciences in a report on Monday, December 23rd. William Blair reissued an “outperform” rating on shares of Neurocrine Biosciences in a research note on Friday, February 7th. HC Wainwright restated a “buy” rating and issued a $185.00 target price on shares of Neurocrine Biosciences in a research report on Friday, February 21st. Deutsche Bank Aktiengesellschaft assumed coverage on Neurocrine Biosciences in a report on Tuesday, February 11th. They set a “hold” rating and a $138.00 price target for the company. Finally, Wedbush reduced their price objective on shares of Neurocrine Biosciences from $157.00 to $147.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. Five equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $165.24.

Insiders Place Their Bets

In other news, CFO Matt Abernethy sold 2,558 shares of Neurocrine Biosciences stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $116.86, for a total transaction of $298,927.88. Following the completion of the sale, the chief financial officer now directly owns 34,775 shares of the company’s stock, valued at approximately $4,063,806.50. The trade was a 6.85 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kevin Charles Gorman sold 5,844 shares of the stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $116.69, for a total value of $681,936.36. Following the completion of the transaction, the director now directly owns 521,618 shares in the company, valued at $60,867,604.42. This trade represents a 1.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 233,178 shares of company stock worth $33,906,594 in the last 90 days. Corporate insiders own 4.30% of the company’s stock.

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.