UMB Bank n.a. Increases Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

UMB Bank n.a. increased its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 96.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 896 shares of the company’s stock after acquiring an additional 441 shares during the quarter. UMB Bank n.a.’s holdings in Neurocrine Biosciences were worth $99,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Golden State Wealth Management LLC acquired a new stake in shares of Neurocrine Biosciences during the fourth quarter worth approximately $25,000. Huntington National Bank boosted its stake in Neurocrine Biosciences by 73.5% during the 4th quarter. Huntington National Bank now owns 229 shares of the company’s stock valued at $31,000 after acquiring an additional 97 shares during the last quarter. GeoWealth Management LLC grew its holdings in Neurocrine Biosciences by 65.4% during the 4th quarter. GeoWealth Management LLC now owns 258 shares of the company’s stock worth $35,000 after acquiring an additional 102 shares in the last quarter. Versant Capital Management Inc grew its holdings in Neurocrine Biosciences by 404.9% during the 1st quarter. Versant Capital Management Inc now owns 409 shares of the company’s stock worth $45,000 after acquiring an additional 328 shares in the last quarter. Finally, Lindbrook Capital LLC increased its position in shares of Neurocrine Biosciences by 53.5% in the 4th quarter. Lindbrook Capital LLC now owns 373 shares of the company’s stock worth $51,000 after purchasing an additional 130 shares during the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on NBIX shares. JPMorgan Chase & Co. increased their price target on shares of Neurocrine Biosciences from $183.00 to $184.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 26th. Royal Bank of Canada reiterated an “outperform” rating and issued a $145.00 target price on shares of Neurocrine Biosciences in a research report on Monday, June 2nd. Canaccord Genuity Group upped their price target on Neurocrine Biosciences from $158.00 to $160.00 and gave the company a “buy” rating in a research report on Tuesday, May 6th. Evercore ISI reduced their price objective on Neurocrine Biosciences from $190.00 to $185.00 and set an “outperform” rating on the stock in a research note on Thursday, April 24th. Finally, UBS Group increased their target price on shares of Neurocrine Biosciences from $137.00 to $152.00 and gave the stock a “buy” rating in a report on Tuesday, May 6th. Three investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat.com, Neurocrine Biosciences has an average rating of “Moderate Buy” and a consensus target price of $162.00.

Insider Buying and Selling at Neurocrine Biosciences

In other news, Director William H. Rastetter sold 30,000 shares of the stock in a transaction on Monday, May 5th. The stock was sold at an average price of $110.20, for a total value of $3,306,000.00. Following the completion of the sale, the director now owns 37,491 shares in the company, valued at $4,131,508.20. This represents a 44.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kevin Charles Gorman sold 9,613 shares of the stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $120.38, for a total value of $1,157,212.94. Following the completion of the sale, the director now directly owns 514,596 shares of the company’s stock, valued at approximately $61,947,066.48. This represents a 1.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.80% of the stock is owned by corporate insiders.

Neurocrine Biosciences Price Performance

NBIX opened at $125.01 on Friday. Neurocrine Biosciences, Inc. has a 12 month low of $84.23 and a 12 month high of $157.98. The stock has a market cap of $12.37 billion, a P/E ratio of 38.00, a P/E/G ratio of 0.77 and a beta of 0.24. The stock’s 50 day moving average price is $111.75 and its 200 day moving average price is $121.94.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings data on Monday, May 5th. The company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.62). Neurocrine Biosciences had a net margin of 14.49% and a return on equity of 13.38%. The company had revenue of $572.60 million for the quarter, compared to analyst estimates of $587.06 million. During the same quarter in the prior year, the business earned $1.20 EPS. Neurocrine Biosciences’s revenue was up 11.1% compared to the same quarter last year. Equities analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

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