Grandfield & Dodd LLC Purchases 290 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Grandfield & Dodd LLC increased its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 1.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,111 shares of the company’s stock after acquiring an additional 290 shares during the period. Grandfield & Dodd LLC’s holdings in Neurocrine Biosciences were worth $2,199,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. State Street Corp raised its position in Neurocrine Biosciences by 11.7% in the 3rd quarter. State Street Corp now owns 5,148,293 shares of the company’s stock worth $593,186,000 after purchasing an additional 539,936 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Neurocrine Biosciences by 2.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,859,232 shares of the company’s stock valued at $213,773,000 after buying an additional 39,610 shares in the last quarter. Braidwell LP boosted its holdings in shares of Neurocrine Biosciences by 20.9% in the third quarter. Braidwell LP now owns 917,674 shares of the company’s stock valued at $105,734,000 after buying an additional 158,665 shares during the period. Bank of New York Mellon Corp lifted its stake in Neurocrine Biosciences by 1.4% in the 4th quarter. Bank of New York Mellon Corp now owns 870,290 shares of the company’s stock valued at $118,795,000 after acquiring an additional 12,040 shares in the last quarter. Finally, Jennison Associates LLC increased its position in shares of Neurocrine Biosciences by 145.1% in the fourth quarter. Jennison Associates LLC now owns 820,694 shares of the company’s stock valued at $112,025,000 after acquiring an additional 485,894 shares during the last quarter. 92.59% of the stock is owned by institutional investors and hedge funds.

Neurocrine Biosciences Price Performance

Neurocrine Biosciences stock opened at $118.72 on Monday. The stock has a market cap of $11.84 billion, a P/E ratio of 36.08, a PEG ratio of 0.77 and a beta of 0.33. The firm’s 50 day moving average price is $134.90 and its 200-day moving average price is $128.25. Neurocrine Biosciences, Inc. has a 1 year low of $110.95 and a 1 year high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its earnings results 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 return on equity of 13.38% and a net margin of 14.49%. As a group, equities analysts expect that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

Neurocrine Biosciences announced that its board has initiated a stock buyback program on Friday, February 21st that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to repurchase up to 4.2% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several analysts recently commented on NBIX shares. Wedbush reduced their target price on shares of Neurocrine Biosciences from $157.00 to $147.00 and set an “outperform” rating for the company in a report on Friday, February 7th. Bank of America lowered their price objective on shares of Neurocrine Biosciences from $184.00 to $179.00 and set a “buy” rating for the company in a research report on Friday, February 7th. HC Wainwright reiterated a “buy” rating and set a $185.00 price target on shares of Neurocrine Biosciences in a report on Friday, February 21st. StockNews.com lowered shares of Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 18th. Finally, William Blair restated an “outperform” rating on shares of Neurocrine Biosciences in a research report on Friday, February 7th. Five equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $166.90.

Insider Activity

In other Neurocrine Biosciences news, insider Julie Cooke sold 1,740 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $152.89, for a total transaction of $266,028.60. Following the completion of the sale, the insider now directly owns 18,202 shares in the company, valued at approximately $2,782,903.78. The trade was a 8.73 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ingrid Delaet sold 272 shares of the firm’s stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $138.10, for a total value of $37,563.20. Following the completion of the sale, the insider now directly owns 2,507 shares of the company’s stock, valued at $346,216.70. This trade represents a 9.79 % decrease in their ownership of the stock. 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 over the last 90 days. 4.30% of the stock is currently owned by corporate insiders.

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.