Eagle Health Investments LP Purchases 26,400 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Eagle Health Investments LP grew its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 20.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 155,000 shares of the company’s stock after buying an additional 26,400 shares during the quarter. Neurocrine Biosciences accounts for about 5.2% of Eagle Health Investments LP’s portfolio, making the stock its 10th largest holding. Eagle Health Investments LP owned about 0.15% of Neurocrine Biosciences worth $21,158,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in NBIX. Elo Mutual Pension Insurance Co acquired a new position in Neurocrine Biosciences during the fourth quarter valued at approximately $1,509,000. WINTON GROUP Ltd bought a new position in shares of Neurocrine Biosciences in the 4th quarter valued at $1,027,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Neurocrine Biosciences by 13.4% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 76,922 shares of the company’s stock worth $10,623,000 after buying an additional 9,086 shares in the last quarter. Segall Bryant & Hamill LLC lifted its position in shares of Neurocrine Biosciences by 28.5% during the 4th quarter. Segall Bryant & Hamill LLC now owns 46,870 shares of the company’s stock worth $6,398,000 after buying an additional 10,398 shares during the last quarter. Finally, Prudential Financial Inc. boosted its stake in Neurocrine Biosciences by 18.9% in the fourth quarter. Prudential Financial Inc. now owns 210,175 shares of the company’s stock valued at $28,689,000 after buying an additional 33,450 shares in the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Neurocrine Biosciences

In related news, CEO Kyle Gano sold 65,000 shares of the company’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $141.50, for a total transaction of $9,197,500.00. Following the completion of the sale, the chief executive officer now owns 135,392 shares in the company, valued at approximately $19,157,968. This represents a 32.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Kevin Charles Gorman sold 5,844 shares of the firm’s 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 transaction, the director now owns 521,618 shares in the company, valued at approximately $60,867,604.42. This trade represents a 1.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 233,178 shares of company stock valued at $33,906,594 over the last ninety days. 4.30% of the stock is owned by company insiders.

Neurocrine Biosciences Stock Performance

Shares of NBIX stock opened at $114.45 on Thursday. Neurocrine Biosciences, Inc. has a fifty-two week low of $105.18 and a fifty-two week high of $157.98. The stock has a 50 day simple moving average of $125.33 and a two-hundred day simple moving average of $125.02. The company has a market cap of $11.41 billion, a P/E ratio of 34.79, a PEG ratio of 0.77 and a beta of 0.35.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its earnings results on Thursday, February 6th. The company reported $1.00 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%. 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 authorized a stock repurchase program on Friday, February 21st that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 4.2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on NBIX shares. Needham & Company LLC restated a “hold” rating on shares of Neurocrine Biosciences in a research note on Friday, February 7th. StockNews.com cut shares of Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 20th. Canaccord Genuity Group dropped their price target 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. HC Wainwright reissued a “buy” rating and set a $185.00 price objective on shares of Neurocrine Biosciences in a report on Friday, February 21st. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $150.00 target price (down previously from $185.00) on shares of Neurocrine Biosciences in a report on Friday, March 7th. Five equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $165.38.

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.