Sawgrass Asset Management LLC Purchases Shares of 99,557 Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Sawgrass Asset Management LLC purchased a new position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) during the fourth quarter, Holdings Channel.com reports. The fund purchased 99,557 shares of the company’s stock, valued at approximately $13,118,000. Neurocrine Biosciences comprises about 1.5% of Sawgrass Asset Management LLC’s portfolio, making the stock its 21st largest position.

Other hedge funds have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. grew its stake in Neurocrine Biosciences by 10.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 686,835 shares of the company’s stock valued at $90,497,000 after purchasing an additional 63,568 shares during the last quarter. Machina Capital S.A.S. purchased a new position in Neurocrine Biosciences during the 4th quarter worth approximately $549,000. Sheets Smith Wealth Management acquired a new stake in Neurocrine Biosciences during the 4th quarter valued at approximately $270,000. National Bank of Canada FI boosted its holdings in shares of Neurocrine Biosciences by 2,192.0% in the 4th quarter. National Bank of Canada FI now owns 22,966 shares of the company’s stock valued at $3,025,000 after acquiring an additional 21,964 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. purchased a new position in shares of Neurocrine Biosciences during the fourth quarter worth $33,000. Institutional investors and hedge funds own 92.59% of the company’s stock.

Insider Buying and Selling

In related news, insider David W. Boyer sold 1,328 shares of the firm’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $135.41, for a total transaction of $179,824.48. Following the completion of the transaction, the insider now directly owns 4,895 shares in the company, valued at approximately $662,831.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Neurocrine Biosciences news, insider David W. Boyer sold 1,328 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $135.41, for a total value of $179,824.48. Following the completion of the transaction, the insider now owns 4,895 shares of the company’s stock, valued at approximately $662,831.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Eric Benevich sold 75,000 shares of Neurocrine Biosciences stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $139.38, for a total value of $10,453,500.00. Following the completion of the transaction, the insider now owns 40,778 shares of the company’s stock, valued at $5,683,637.64. The disclosure for this sale can be found here. In the last quarter, insiders sold 177,044 shares of company stock valued at $24,399,293. Company insiders own 4.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. BMO Capital Markets boosted their price objective on Neurocrine Biosciences from $129.00 to $138.00 and gave the company a “market perform” rating in a report on Thursday, May 2nd. Cantor Fitzgerald restated an “overweight” rating and set a $155.00 price target on shares of Neurocrine Biosciences in a research report on Wednesday, April 10th. Canaccord Genuity Group raised their target price on Neurocrine Biosciences from $154.00 to $164.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Mizuho upped their price target on Neurocrine Biosciences from $116.00 to $140.00 and gave the stock a “neutral” rating in a report on Thursday, February 8th. Finally, StockNews.com cut Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 2nd. Six equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, Neurocrine Biosciences presently has an average rating of “Moderate Buy” and an average target price of $147.88.

Neurocrine Biosciences Stock Down 2.9 %

NASDAQ:NBIX traded down $4.17 on Wednesday, reaching $139.02. The company’s stock had a trading volume of 653,593 shares, compared to its average volume of 845,459. The firm has a market cap of $13.99 billion, a price-to-earnings ratio of 38.63 and a beta of 0.28. Neurocrine Biosciences, Inc. has a 12-month low of $89.04 and a 12-month high of $148.37. The stock has a 50 day moving average price of $137.63 and a 200 day moving average price of $129.45.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its earnings results on Wednesday, February 7th. The company reported $1.44 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.31. The company had revenue of $515.20 million during the quarter, compared to analyst estimates of $518.52 million. Neurocrine Biosciences had a net margin of 18.65% and a return on equity of 17.45%. Neurocrine Biosciences’s revenue was up 25.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.88 earnings per share. Equities research analysts expect that Neurocrine Biosciences, Inc. will post 4.78 EPS for the current fiscal year.

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.