Blackhawk Capital Partners LLC. Purchases New Shares in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Blackhawk Capital Partners LLC. acquired a new position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 9,771 shares of the company’s stock, valued at approximately $1,334,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Louisiana State Employees Retirement System grew its holdings in shares of Neurocrine Biosciences by 0.4% during the fourth quarter. Louisiana State Employees Retirement System now owns 28,100 shares of the company’s stock worth $3,836,000 after buying an additional 100 shares during the last quarter. Commerce Bank lifted its position in Neurocrine Biosciences by 2.6% during the 3rd quarter. Commerce Bank now owns 4,199 shares of the company’s stock worth $484,000 after acquiring an additional 108 shares during the period. Tokio Marine Asset Management Co. Ltd. grew its stake in shares of Neurocrine Biosciences by 2.7% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,302 shares of the company’s stock valued at $496,000 after purchasing an additional 113 shares during the last quarter. Brooklyn Investment Group increased 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. Finally, Tealwood Asset Management Inc. increased its holdings in shares of Neurocrine Biosciences by 1.0% in the fourth quarter. Tealwood Asset Management Inc. now owns 11,911 shares of the company’s stock valued at $1,626,000 after purchasing an additional 118 shares during the period. 92.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on NBIX shares. StockNews.com lowered shares of Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 18th. UBS Group lifted their target price 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. Bank of America cut their price target on shares of Neurocrine Biosciences from $184.00 to $179.00 and set a “buy” rating for the company in a report on Friday, February 7th. Morgan Stanley lifted their price objective on Neurocrine Biosciences from $170.00 to $185.00 and gave the company an “overweight” rating in a report on Tuesday, February 4th. Finally, Guggenheim dropped their target price 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. Five research 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 company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $166.90.

Insiders Place Their Bets

In related news, CFO Matt Abernethy sold 1,283 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $152.87, for a total transaction of $196,132.21. Following the sale, the chief financial officer now owns 32,681 shares in the company, valued at approximately $4,995,944.47. This trade represents a 3.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ingrid Delaet sold 1,091 shares of the business’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $135.00, for a total value of $147,285.00. Following the completion of the transaction, the insider now owns 2,507 shares of the company’s stock, valued at $338,445. This trade represents a 30.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 236,600 shares of company stock valued at $34,348,261 in the last ninety days. Insiders own 4.30% of the company’s stock.

Neurocrine Biosciences Stock Performance

NBIX stock opened at $119.11 on Tuesday. The stock’s 50 day moving average price is $136.35 and its 200 day moving average price is $129.11. The firm has a market cap of $11.88 billion, a P/E ratio of 36.20, a PEG ratio of 0.77 and a beta of 0.33. Neurocrine Biosciences, Inc. has a 1 year low of $110.95 and a 1 year high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings data 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 net margin of 14.49% and a return on equity of 13.38%. On average, research analysts predict that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.

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