Pier 88 Investment Partners LLC Buys 1,600 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Pier 88 Investment Partners LLC grew its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 51.8% in the fourth quarter, HoldingsChannel reports. The firm owned 4,690 shares of the company’s stock after buying an additional 1,600 shares during the quarter. Pier 88 Investment Partners LLC’s holdings in Neurocrine Biosciences were worth $640,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Royal Bank of Canada lowered their price objective on shares of Neurocrine Biosciences from $154.00 to $148.00 and set a “sector perform” rating for the company in a research report on Friday, February 7th. UBS Group increased their price target on shares of Neurocrine Biosciences from $162.00 to $176.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Barclays boosted their price objective on Neurocrine Biosciences from $160.00 to $165.00 and gave the stock an “overweight” rating in a research note on Monday, December 23rd. Canaccord Genuity Group lowered their price objective on Neurocrine Biosciences from $172.00 to $163.00 and set a “buy” rating for the company in a research note on Friday, February 7th. Finally, William Blair reissued an “outperform” rating on shares of Neurocrine Biosciences in a research report on Friday, February 7th. Five analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $165.38.

Insider Transactions at Neurocrine Biosciences

In related news, insider Ingrid Delaet sold 272 shares of the business’s stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $138.10, for a total value of $37,563.20. Following the completion of the transaction, the insider now owns 2,507 shares of the company’s stock, valued at $346,216.70. The trade was a 9.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Julie Cooke sold 700 shares of the company’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $118.28, for a total value of $82,796.00. Following the sale, the insider now owns 18,831 shares of the company’s stock, valued at approximately $2,227,330.68. This represents a 3.58 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 233,178 shares of company stock valued at $33,906,594. Company insiders own 4.30% of the company’s stock.

Neurocrine Biosciences Stock Down 0.7 %

Shares of NASDAQ NBIX opened at $113.16 on Monday. Neurocrine Biosciences, Inc. has a twelve month low of $105.18 and a twelve month high of $157.98. The business has a fifty day simple moving average of $124.17 and a two-hundred day simple moving average of $124.96. The firm has a market cap of $11.28 billion, a PE ratio of 34.40, a price-to-earnings-growth ratio of 0.77 and a beta of 0.35.

Neurocrine Biosciences (NASDAQ:NBIX) last released 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%. On average, research analysts expect that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.

Neurocrine Biosciences declared that its Board of Directors has approved a share buyback program on Friday, February 21st that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to purchase up to 4.2% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

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.