Oppenheimer Asset Management Inc. Buys 186 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Oppenheimer Asset Management Inc. grew its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 1.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 13,944 shares of the company’s stock after buying an additional 186 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Neurocrine Biosciences were worth $1,903,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Oregon Public Employees Retirement Fund raised its position in shares of Neurocrine Biosciences by 0.6% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 20,633 shares of the company’s stock valued at $2,816,000 after purchasing an additional 117 shares during the period. Los Angeles Capital Management LLC raised its position in shares of Neurocrine Biosciences by 21.9% in the fourth quarter. Los Angeles Capital Management LLC now owns 512,820 shares of the company’s stock valued at $70,000,000 after purchasing an additional 92,072 shares during the period. Bank of New York Mellon Corp raised its position in shares of Neurocrine Biosciences by 1.4% in the fourth quarter. Bank of New York Mellon Corp now owns 870,290 shares of the company’s stock valued at $118,795,000 after purchasing an additional 12,040 shares during the period. Blackhawk Capital Partners LLC. bought a new stake in shares of Neurocrine Biosciences in the fourth quarter valued at approximately $1,334,000. Finally, Impax Asset Management Group plc raised its position in shares of Neurocrine Biosciences by 207.8% in the fourth quarter. Impax Asset Management Group plc now owns 261,599 shares of the company’s stock valued at $35,708,000 after purchasing an additional 176,599 shares during the period. Institutional investors own 92.59% of the company’s stock.

Insider Activity

In related news, insider Ingrid Delaet sold 272 shares of the company’s stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $138.10, for a total transaction of $37,563.20. Following the completion of the sale, the insider now directly owns 2,507 shares in the company, valued at $346,216.70. This represents a 9.79 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Matt Abernethy sold 1,283 shares of the company’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $152.87, for a total transaction of $196,132.21. Following the sale, the chief financial officer now owns 32,681 shares of the company’s stock, valued at $4,995,944.47. This represents a 3.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 234,269 shares of company stock valued at $34,053,879. Corporate insiders own 4.30% of the company’s stock.

Neurocrine Biosciences Stock Performance

Shares of Neurocrine Biosciences stock opened at $118.72 on Monday. Neurocrine Biosciences, Inc. has a 52-week low of $110.95 and a 52-week high of $157.98. The stock has a market capitalization of $11.84 billion, a price-to-earnings ratio of 36.08, a price-to-earnings-growth ratio of 0.77 and a beta of 0.33. The company has a fifty day moving average of $134.90 and a 200-day moving average of $128.25.

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 analysts’ consensus estimates of $1.62 by ($0.62). Neurocrine Biosciences had a net margin of 14.49% and a return on equity of 13.38%. On average, equities research analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

Neurocrine Biosciences announced that its board has approved a share buyback plan on Friday, February 21st that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to repurchase up to 4.2% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on NBIX. Morgan Stanley boosted their price target on shares of Neurocrine Biosciences from $170.00 to $185.00 and gave the company an “overweight” rating in a research report on Tuesday, February 4th. Bank of America decreased their target price on shares of Neurocrine Biosciences from $184.00 to $179.00 and set a “buy” rating on the stock in a report on Friday, February 7th. Royal Bank of Canada decreased their target price on shares of Neurocrine Biosciences from $154.00 to $148.00 and set a “sector perform” rating on the stock in a report on Friday, February 7th. Guggenheim decreased their target price on shares of Neurocrine Biosciences from $165.00 to $163.00 and set a “buy” rating on the stock in a report on Monday, February 10th. Finally, StockNews.com lowered shares of Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 18th. 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. According to MarketBeat, Neurocrine Biosciences currently has an average rating of “Moderate Buy” and an average price target of $166.90.

About Neurocrine Biosciences

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.