First Financial Bankshares Inc Boosts Stock Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

First Financial Bankshares Inc raised its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 51.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 26,942 shares of the company’s stock after buying an additional 9,208 shares during the quarter. First Financial Bankshares Inc’s holdings in Neurocrine Biosciences were worth $3,678,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Raymond James Financial Inc. purchased a new stake in Neurocrine Biosciences during the fourth quarter valued at approximately $115,193,000. Thrivent Financial for Lutherans increased its position in shares of Neurocrine Biosciences by 2,759.4% during the fourth quarter. Thrivent Financial for Lutherans now owns 737,772 shares of the company’s stock worth $100,705,000 after purchasing an additional 711,970 shares in the last quarter. State Street Corp lifted its holdings in shares of Neurocrine Biosciences by 11.7% during the 3rd quarter. State Street Corp now owns 5,148,293 shares of the company’s stock valued at $593,186,000 after purchasing an additional 539,936 shares during the last quarter. Jennison Associates LLC boosted its position in shares of Neurocrine Biosciences by 145.1% in the 4th quarter. Jennison Associates LLC now owns 820,694 shares of the company’s stock worth $112,025,000 after purchasing an additional 485,894 shares in the last quarter. Finally, Impax Asset Management Group plc grew its stake in Neurocrine Biosciences by 207.8% during the 4th quarter. Impax Asset Management Group plc now owns 261,599 shares of the company’s stock worth $35,708,000 after buying an additional 176,599 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors.

Neurocrine Biosciences Stock Performance

Shares of Neurocrine Biosciences stock opened at $109.70 on Wednesday. The firm has a 50-day simple moving average of $128.62 and a two-hundred day simple moving average of $125.47. Neurocrine Biosciences, Inc. has a fifty-two week low of $105.18 and a fifty-two week high of $157.98. The company has a market cap of $10.94 billion, a P/E ratio of 33.34, a price-to-earnings-growth ratio of 0.77 and a beta of 0.35.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings results on Thursday, February 6th. The company reported $1.00 earnings per share 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%. Equities research analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

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

Wall Street Analysts Forecast Growth

A number of research firms have commented on NBIX. UBS Group increased their price target on Neurocrine Biosciences from $162.00 to $176.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Morgan Stanley reaffirmed an “overweight” rating and issued a $150.00 price objective (down from $185.00) on shares of Neurocrine Biosciences in a research report on Friday, March 7th. William Blair reissued an “outperform” rating on shares of Neurocrine Biosciences in a research report on Friday, February 7th. Royal Bank of Canada decreased their price target on shares of Neurocrine Biosciences from $154.00 to $148.00 and set a “sector perform” rating for the company in a report on Friday, February 7th. Finally, Canaccord Genuity Group lowered their price objective on shares of Neurocrine Biosciences from $172.00 to $163.00 and set a “buy” rating for the company in a research note on Friday, February 7th. Five analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $165.24.

Insider Activity

In other Neurocrine Biosciences news, CFO Matt Abernethy sold 1,283 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $152.87, for a total transaction of $196,132.21. Following the completion of the sale, the chief financial officer now directly owns 32,681 shares in the company, valued at approximately $4,995,944.47. The trade was a 3.78 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kevin Charles Gorman sold 5,844 shares of the firm’s stock in a transaction that occurred 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 completion of 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 position. The disclosure for this sale can be found here. Insiders have sold 233,178 shares of company stock worth $33,906,594 in the last quarter. Corporate insiders own 4.30% of the company’s stock.

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.