CIBC Asset Management Inc Has $557,000 Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

CIBC Asset Management Inc increased its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 13.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 4,078 shares of the company’s stock after acquiring an additional 487 shares during the quarter. CIBC Asset Management Inc’s holdings in Neurocrine Biosciences were worth $557,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Golden State Wealth Management LLC acquired a new stake in Neurocrine Biosciences during the 4th quarter valued at approximately $25,000. Brooklyn Investment Group increased its position in Neurocrine Biosciences by 99.1% during the 4th quarter. Brooklyn Investment Group now owns 231 shares of the company’s stock valued at $32,000 after purchasing an additional 115 shares during the period. Blue Trust Inc. increased its position in Neurocrine Biosciences by 171.9% during the 3rd quarter. Blue Trust Inc. now owns 348 shares of the company’s stock valued at $40,000 after purchasing an additional 220 shares during the period. R Squared Ltd acquired a new stake in Neurocrine Biosciences during the 4th quarter valued at approximately $61,000. Finally, UMB Bank n.a. increased its position in 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 during the period. Institutional investors and hedge funds own 92.59% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Neurocrine Biosciences in a research report on Tuesday, February 11th. They set a “hold” rating and a $138.00 target price for the company. Barclays increased their target price on shares of Neurocrine Biosciences from $160.00 to $165.00 and gave the company an “overweight” rating in a research report on Monday, December 23rd. Needham & Company LLC restated a “hold” rating on shares of Neurocrine Biosciences in a report on Friday, February 7th. StockNews.com cut Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 18th. Finally, Wedbush cut their price target on Neurocrine Biosciences from $157.00 to $147.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. Five 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, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $166.90.

Insider Buying and Selling at Neurocrine Biosciences

In other news, CFO Matt Abernethy sold 1,283 shares of Neurocrine Biosciences stock in a transaction on Friday, January 31st. The stock was sold at an average price of $152.87, for a total transaction of $196,132.21. Following the sale, the chief financial officer now directly owns 32,681 shares in the company, valued at $4,995,944.47. The trade was a 3.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Kyle Gano sold 65,000 shares of Neurocrine Biosciences stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $141.50, for a total value of $9,197,500.00. Following the sale, the chief executive officer now owns 135,392 shares in the company, valued at $19,157,968. The trade was a 32.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 236,600 shares of company stock worth $34,348,261. Corporate insiders own 4.30% of the company’s stock.

Neurocrine Biosciences Trading Up 3.9 %

Shares of NASDAQ:NBIX opened at $120.69 on Friday. The stock’s fifty day simple moving average is $136.63 and its two-hundred day simple moving average is $129.41. Neurocrine Biosciences, Inc. has a 1-year low of $110.95 and a 1-year high of $157.98. The stock has a market cap of $12.03 billion, a PE ratio of 36.68, a price-to-earnings-growth ratio of 0.77 and a beta of 0.33.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings data on Thursday, February 6th. The company reported $1.00 earnings per share 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%. On average, sell-side 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 program on Friday, February 21st that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 4.2% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors 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.