Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Shares Bought by Impax Asset Management Group plc

Impax Asset Management Group plc lifted its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 207.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 261,599 shares of the company’s stock after purchasing an additional 176,599 shares during the period. Impax Asset Management Group plc’s holdings in Neurocrine Biosciences were worth $35,708,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC acquired a new position in shares of Neurocrine Biosciences during the 4th quarter valued at $25,000. Brooklyn Investment Group boosted its stake in Neurocrine Biosciences by 99.1% during the fourth quarter. Brooklyn Investment Group now owns 231 shares of the company’s stock valued at $32,000 after buying an additional 115 shares in the last quarter. Blue Trust Inc. grew its holdings in Neurocrine Biosciences by 171.9% during the third quarter. Blue Trust Inc. now owns 348 shares of the company’s stock worth $40,000 after acquiring an additional 220 shares during the period. R Squared Ltd bought a new stake in Neurocrine Biosciences in the fourth quarter worth about $61,000. Finally, UMB Bank n.a. boosted its position in shares of Neurocrine Biosciences by 211.6% during the 4th quarter. UMB Bank n.a. now owns 455 shares of the company’s stock valued at $62,000 after purchasing an additional 309 shares in the last quarter. Institutional investors own 92.59% of the company’s stock.

Insider Transactions at Neurocrine Biosciences

In related news, Director Kevin Charles Gorman sold 146,105 shares of the stock in a transaction on 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 completion of the transaction, the director now owns 514,596 shares in the company, valued at approximately $76,911,518.16. This represents a 22.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jude Onyia sold 2,331 shares of Neurocrine Biosciences stock in a transaction on Friday, November 29th. The shares were sold at an average price of $126.29, for a total transaction of $294,381.99. Following the completion of the sale, the insider now owns 15,449 shares in the company, valued at $1,951,054.21. The trade was a 13.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 236,600 shares of company stock valued at $34,348,261 over the last three months. 4.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on NBIX. Bank of America reduced their target price on shares of Neurocrine Biosciences from $184.00 to $179.00 and set a “buy” rating for the company in a report on Friday, February 7th. Piper Sandler restated an “overweight” rating and set a $160.00 price target on shares of Neurocrine Biosciences in a report on Monday, December 23rd. William Blair reaffirmed an “outperform” rating on shares of Neurocrine Biosciences in a research note on Friday, February 7th. Canaccord Genuity Group cut their target price on shares of Neurocrine Biosciences from $172.00 to $163.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. Finally, Guggenheim reduced their target price on Neurocrine Biosciences from $165.00 to $163.00 and set a “buy” rating for the company in a report on Monday, February 10th. Five research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $166.90.

Neurocrine Biosciences Stock Performance

NASDAQ:NBIX opened at $120.69 on Monday. The company has a market capitalization of $12.03 billion, a price-to-earnings ratio of 36.68, a PEG ratio of 0.77 and a beta of 0.33. The company has a 50-day moving average of $136.63 and a 200-day moving average of $129.31. Neurocrine Biosciences, Inc. has a 52 week low of $110.95 and a 52 week high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings data on Thursday, February 6th. The company reported $1.00 earnings per share (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%. Sell-side analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

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

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.