Xponance Inc. Has $3.70 Million Stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Xponance Inc. increased its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 7.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 27,067 shares of the company’s stock after buying an additional 1,941 shares during the period. Xponance Inc.’s holdings in Neurocrine Biosciences were worth $3,695,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of NBIX. CIBC Asset Management Inc raised its position in shares of Neurocrine Biosciences by 5.6% in the 3rd quarter. CIBC Asset Management Inc now owns 3,591 shares of the company’s stock worth $414,000 after acquiring an additional 191 shares in the last quarter. Swiss National Bank grew its stake in Neurocrine Biosciences by 1.4% during the third quarter. Swiss National Bank now owns 298,700 shares of the company’s stock worth $34,416,000 after purchasing an additional 4,100 shares during the period. Quest Partners LLC increased its holdings in Neurocrine Biosciences by 674.9% in the third quarter. Quest Partners LLC now owns 3,495 shares of the company’s stock worth $403,000 after purchasing an additional 3,044 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Neurocrine Biosciences in the third quarter valued at approximately $553,000. Finally, Commerce Bank lifted its stake in Neurocrine Biosciences by 2.6% in the third quarter. Commerce Bank now owns 4,199 shares of the company’s stock valued at $484,000 after buying an additional 108 shares during the period. Institutional investors own 92.59% of the company’s stock.

Neurocrine Biosciences Price Performance

Shares of Neurocrine Biosciences stock opened at $110.07 on Friday. The stock has a fifty day moving average price of $127.48 and a 200-day moving average price of $125.25. The firm has a market cap of $10.97 billion, a PE ratio of 33.46, a P/E/G ratio of 0.77 and a beta of 0.35. Neurocrine Biosciences, Inc. has a 1 year low of $105.18 and a 1 year high of $157.98.

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

Neurocrine Biosciences declared that its board has authorized a share repurchase plan on Friday, February 21st that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to purchase up to 4.2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

Insider Activity at Neurocrine Biosciences

In other Neurocrine Biosciences news, Director Kevin Charles Gorman sold 5,844 shares of the company’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $116.69, for a total transaction of $681,936.36. Following the sale, the director now directly owns 521,618 shares of the company’s stock, valued at $60,867,604.42. This represents a 1.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Ingrid Delaet sold 272 shares of Neurocrine Biosciences stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $138.10, for a total transaction 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 233,178 shares of company stock worth $33,906,594. Insiders own 4.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on NBIX. HC Wainwright reiterated a “buy” rating and issued a $185.00 price objective on shares of Neurocrine Biosciences in a research note on Friday, February 21st. Morgan Stanley reiterated an “overweight” rating and set a $150.00 price objective (down previously from $185.00) on shares of Neurocrine Biosciences in a report on Friday, March 7th. Wedbush reduced their target price on Neurocrine Biosciences from $157.00 to $147.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. StockNews.com downgraded Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Finally, Guggenheim reduced their price objective on Neurocrine Biosciences from $165.00 to $163.00 and set a “buy” rating for the company in a research note on Monday, February 10th. Five equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Neurocrine Biosciences has an average rating of “Moderate Buy” and an average target price of $165.24.

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.