Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp raised its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 1.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 870,290 shares of the company’s stock after purchasing an additional 12,040 shares during the quarter. Bank of New York Mellon Corp owned about 0.86% of Neurocrine Biosciences worth $118,795,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. State Street Corp increased its stake in shares of Neurocrine Biosciences by 11.7% during the third quarter. State Street Corp now owns 5,148,293 shares of the company’s stock worth $593,186,000 after acquiring an additional 539,936 shares during the period. Jennison Associates LLC increased its stake in shares of Neurocrine Biosciences by 145.1% during the fourth quarter. Jennison Associates LLC now owns 820,694 shares of the company’s stock worth $112,025,000 after acquiring an additional 485,894 shares during the period. Los Angeles Capital Management LLC increased its stake in shares of Neurocrine Biosciences by 639.6% during the third quarter. Los Angeles Capital Management LLC now owns 420,748 shares of the company’s stock worth $48,479,000 after acquiring an additional 363,863 shares during the period. Impax Asset Management Group plc increased its stake in shares of Neurocrine Biosciences by 207.8% during the fourth quarter. Impax Asset Management Group plc now owns 261,599 shares of the company’s stock worth $35,708,000 after acquiring an additional 176,599 shares during the period. Finally, Braidwell LP increased its stake in shares of Neurocrine Biosciences by 20.9% during the third quarter. Braidwell LP now owns 917,674 shares of the company’s stock worth $105,734,000 after acquiring an additional 158,665 shares during the period. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Ingrid Delaet sold 1,091 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $135.00, for a total transaction of $147,285.00. Following the completion of the transaction, the insider now owns 2,507 shares of the company’s stock, valued at approximately $338,445. This represents a 30.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kevin Charles Gorman sold 5,844 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $116.69, for a total transaction of $681,936.36. Following the transaction, the director now directly owns 521,618 shares of the company’s stock, valued at $60,867,604.42. This trade represents a 1.11 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 234,269 shares of company stock valued at $34,053,879. Insiders own 4.30% of the company’s stock.

Neurocrine Biosciences Stock Performance

Shares of NBIX opened at $118.72 on Friday. The company has a market capitalization of $11.84 billion, a price-to-earnings ratio of 36.08, a PEG ratio of 0.77 and a beta of 0.33. The company’s 50 day simple moving average is $134.90 and its 200 day simple moving average is $128.38. 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 quarterly earnings data on Thursday, February 6th. The company reported $1.00 earnings per share (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%. Equities analysts expect that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Piper Sandler reiterated an “overweight” rating and set a $160.00 price target on shares of Neurocrine Biosciences in a research note on Monday, December 23rd. Deutsche Bank Aktiengesellschaft started coverage on shares of Neurocrine Biosciences in a research report on Tuesday, February 11th. They set a “hold” rating and a $138.00 target price on the stock. Canaccord Genuity Group lowered their target price on shares of Neurocrine Biosciences from $172.00 to $163.00 and set a “buy” rating on the stock in a research report on Friday, February 7th. William Blair restated an “outperform” rating on shares of Neurocrine Biosciences in a research report on Friday, February 7th. Finally, Wedbush lowered their target price on shares of Neurocrine Biosciences from $157.00 to $147.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. Five investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $166.90.

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.