denkapparat Operations GmbH Invests $285,000 in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

denkapparat Operations GmbH bought a new stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 2,086 shares of the company’s stock, valued at approximately $285,000.

A number of other hedge funds have also recently added to or reduced their stakes in NBIX. Cerity Partners LLC grew its position in shares of Neurocrine Biosciences by 42.4% during the third quarter. Cerity Partners LLC now owns 39,024 shares of the company’s stock worth $4,496,000 after acquiring an additional 11,622 shares during the last quarter. Algert Global LLC acquired a new stake in Neurocrine Biosciences during the 3rd quarter worth $2,116,000. Daiwa Securities Group Inc. grew its position in Neurocrine Biosciences by 34.1% during the 3rd quarter. Daiwa Securities Group Inc. now owns 11,798 shares of the company’s stock worth $1,360,000 after purchasing an additional 2,997 shares during the last quarter. Fisher Asset Management LLC increased its stake in Neurocrine Biosciences by 7.8% in the third quarter. Fisher Asset Management LLC now owns 68,270 shares of the company’s stock valued at $7,866,000 after purchasing an additional 4,930 shares during the period. Finally, Truvestments Capital LLC purchased a new stake in shares of Neurocrine Biosciences in the third quarter valued at about $63,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Insider Activity at Neurocrine Biosciences

In related news, insider Julie Cooke sold 1,551 shares of the stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $116.78, for a total transaction of $181,125.78. Following the transaction, the insider now directly owns 19,544 shares in the company, valued at approximately $2,282,348.32. This represents a 7.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Kevin Charles Gorman sold 146,105 shares of the company’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $149.46, for a total transaction of $21,836,853.30. Following the transaction, the director now directly owns 514,596 shares of the company’s stock, valued at approximately $76,911,518.16. This represents a 22.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 233,178 shares of company stock valued at $33,906,594 over the last quarter. Insiders own 4.30% of the company’s stock.

Neurocrine Biosciences Trading Down 0.4 %

NASDAQ:NBIX opened at $114.00 on Friday. Neurocrine Biosciences, Inc. has a twelve month low of $105.18 and a twelve month high of $157.98. The company has a market capitalization of $11.37 billion, a P/E ratio of 34.65, a price-to-earnings-growth ratio of 0.77 and a beta of 0.35. The firm has a 50-day moving average price of $124.77 and a two-hundred day moving average price of $124.95.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its earnings results 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 predict that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.

Neurocrine Biosciences announced that its board has initiated a share repurchase plan on Friday, February 21st that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 4.2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Morgan Stanley restated an “overweight” rating and issued a $150.00 price target (down previously from $185.00) on shares of Neurocrine Biosciences in a research report on Friday, March 7th. Royal Bank of Canada dropped their target price on Neurocrine Biosciences from $154.00 to $148.00 and set a “sector perform” rating on the stock in a report on Friday, February 7th. Barclays increased their price target on Neurocrine Biosciences from $160.00 to $165.00 and gave the stock an “overweight” rating in a report on Monday, December 23rd. Bank of America dropped their price objective on shares of Neurocrine Biosciences from $184.00 to $179.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. Finally, Piper Sandler restated an “overweight” rating and issued a $160.00 target price on shares of Neurocrine Biosciences in a research note on Monday, December 23rd. Five research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $165.38.

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.