New Age Alpha Advisors LLC Takes $3.05 Million Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

New Age Alpha Advisors LLC purchased a new position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) in the 4th quarter, HoldingsChannel reports. The institutional investor purchased 22,363 shares of the company’s stock, valued at approximately $3,053,000.

Several other hedge funds have also modified their holdings of NBIX. Norges Bank purchased a new stake in Neurocrine Biosciences during the fourth quarter valued at approximately $44,403,000. Eagle Health Investments LP increased its position in shares of Neurocrine Biosciences by 20.5% during the fourth quarter. Eagle Health Investments LP now owns 155,000 shares of the company’s stock worth $21,158,000 after purchasing an additional 26,400 shares in the last quarter. Elo Mutual Pension Insurance Co purchased a new stake in shares of Neurocrine Biosciences during the 4th quarter valued at $1,509,000. WINTON GROUP Ltd acquired a new stake in shares of Neurocrine Biosciences in the 4th quarter worth $1,027,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in 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 during the last quarter. 92.59% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NBIX has been the subject of a number of research analyst reports. HC Wainwright reiterated a “buy” rating and issued a $185.00 price target on shares of Neurocrine Biosciences in a research note on Friday, February 21st. Needham & Company LLC reissued a “hold” rating on shares of Neurocrine Biosciences in a research report on Friday, February 7th. Morgan Stanley reaffirmed an “overweight” rating and issued a $150.00 price target (down previously from $185.00) on shares of Neurocrine Biosciences in a report on Friday, March 7th. JPMorgan Chase & Co. boosted their price objective on shares of Neurocrine Biosciences from $183.00 to $184.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Bank of America cut their target price on Neurocrine Biosciences from $184.00 to $179.00 and set a “buy” rating on the stock 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 given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $165.38.

Insiders Place Their Bets

In other news, Director Kevin Charles Gorman sold 146,105 shares of Neurocrine Biosciences stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $149.46, for a total value of $21,836,853.30. Following the sale, the director now directly owns 514,596 shares of the company’s stock, valued at $76,911,518.16. The trade was a 22.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Julie Cooke sold 1,551 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $116.78, for a total value of $181,125.78. Following the sale, the insider now owns 19,544 shares of the company’s stock, valued at $2,282,348.32. The trade was a 7.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 233,178 shares of company stock worth $33,906,594. Corporate insiders own 4.30% of the company’s stock.

Neurocrine Biosciences Stock Performance

Neurocrine Biosciences stock opened at $113.16 on Friday. The stock has a market capitalization of $11.28 billion, a P/E ratio of 34.40, a P/E/G ratio of 0.77 and a beta of 0.35. The company’s fifty day moving average price is $124.17 and its 200 day moving average price is $124.94. 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 earnings results 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%. Sell-side analysts predict that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

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

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.