New Age Alpha Advisors LLC Acquires Shares of 22,363 Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

New Age Alpha Advisors LLC bought a new position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 22,363 shares of the company’s stock, valued at approximately $3,053,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Golden State Wealth Management LLC bought a new position in Neurocrine Biosciences in the 4th quarter valued at approximately $25,000. Brooklyn Investment Group raised its stake in shares of Neurocrine Biosciences by 99.1% in the fourth quarter. Brooklyn Investment Group now owns 231 shares of the company’s stock worth $32,000 after purchasing an additional 115 shares during the last quarter. Lindbrook Capital LLC lifted its holdings in shares of Neurocrine Biosciences by 53.5% during the fourth quarter. Lindbrook Capital LLC now owns 373 shares of the company’s stock valued at $51,000 after purchasing an additional 130 shares in the last quarter. R Squared Ltd purchased a new stake in shares of Neurocrine Biosciences during the fourth quarter valued at $61,000. Finally, UMB Bank n.a. increased its holdings in Neurocrine Biosciences by 211.6% in the 4th quarter. UMB Bank n.a. now owns 455 shares of the company’s stock worth $62,000 after buying an additional 309 shares in the last quarter. Institutional investors own 92.59% of the company’s stock.

Neurocrine Biosciences Price Performance

Shares of NBIX stock opened at $113.16 on Friday. The company has a market capitalization of $11.28 billion, a price-to-earnings ratio of 34.40, a PEG 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 one year low of $105.18 and a one 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 net margin of 14.49% and a return on equity of 13.38%. Equities research analysts expect that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

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

Insiders Place Their Bets

In other news, CFO Matt Abernethy sold 2,558 shares of Neurocrine Biosciences stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $116.86, for a total value of $298,927.88. Following the completion of the transaction, the chief financial officer now owns 34,775 shares in the company, valued at approximately $4,063,806.50. The trade was a 6.85 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Kyle Gano sold 65,000 shares of the company’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $141.50, for a total transaction of $9,197,500.00. Following the completion of the transaction, the chief executive officer now owns 135,392 shares in the company, valued at $19,157,968. This represents a 32.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 233,178 shares of company stock worth $33,906,594 in the last three months. 4.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

NBIX has been the topic of several research analyst reports. Morgan Stanley restated an “overweight” rating and set a $150.00 target price (down previously from $185.00) on shares of Neurocrine Biosciences in a research note on Friday, March 7th. William Blair restated an “outperform” rating on shares of Neurocrine Biosciences in a research report on Friday, February 7th. Piper Sandler reaffirmed an “overweight” rating and issued a $160.00 target price on shares of Neurocrine Biosciences in a research report on Monday, December 23rd. Deutsche Bank Aktiengesellschaft started coverage on Neurocrine Biosciences in a report on Tuesday, February 11th. They set a “hold” rating and a $138.00 price target on the stock. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $185.00 price objective on shares of Neurocrine Biosciences in a report on Friday, February 21st. Five 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 company. According to MarketBeat, Neurocrine Biosciences presently has a consensus rating of “Moderate Buy” and a consensus price target of $165.38.

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.