Fisher Asset Management LLC Grows Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Fisher Asset Management LLC raised its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 34.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 92,104 shares of the company’s stock after acquiring an additional 23,834 shares during the quarter. Fisher Asset Management LLC owned approximately 0.09% of Neurocrine Biosciences worth $12,572,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of NBIX. State Street Corp raised its holdings in Neurocrine Biosciences by 11.7% during the third quarter. State Street Corp now owns 5,148,293 shares of the company’s stock valued at $593,186,000 after acquiring an additional 539,936 shares during the period. Jennison Associates LLC raised its holdings in Neurocrine Biosciences by 145.1% during the fourth quarter. Jennison Associates LLC now owns 820,694 shares of the company’s stock valued at $112,025,000 after acquiring an additional 485,894 shares during the period. Los Angeles Capital Management LLC raised its holdings in Neurocrine Biosciences by 639.6% during the third quarter. Los Angeles Capital Management LLC now owns 420,748 shares of the company’s stock valued at $48,479,000 after acquiring an additional 363,863 shares during the period. Impax Asset Management Group plc raised its holdings in Neurocrine Biosciences by 207.8% during the fourth quarter. Impax Asset Management Group plc now owns 261,599 shares of the company’s stock valued at $35,708,000 after acquiring an additional 176,599 shares during the period. Finally, Braidwell LP raised its holdings in Neurocrine Biosciences by 20.9% during the third quarter. Braidwell LP now owns 917,674 shares of the company’s stock valued at $105,734,000 after acquiring an additional 158,665 shares during the period. 92.59% of the stock is owned by institutional investors.

Neurocrine Biosciences Price Performance

Shares of NASDAQ:NBIX opened at $114.48 on Tuesday. Neurocrine Biosciences, Inc. has a 1 year low of $110.95 and a 1 year high of $157.98. The business has a 50 day simple moving average of $134.45 and a two-hundred day simple moving average of $128.02. The firm has a market capitalization of $11.41 billion, a PE ratio of 34.80, a price-to-earnings-growth ratio of 0.77 and a beta of 0.33.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its earnings results 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%. Equities research analysts expect that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

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

Wall Street Analysts Forecast Growth

A number of research firms have commented on NBIX. Bank of America decreased their price target on Neurocrine Biosciences from $184.00 to $179.00 and set a “buy” rating on the stock in a report on Friday, February 7th. Deutsche Bank Aktiengesellschaft started coverage on Neurocrine Biosciences in a report on Tuesday, February 11th. They issued a “hold” rating and a $138.00 target price on the stock. Wedbush reduced their target price on Neurocrine Biosciences from $157.00 to $147.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. Morgan Stanley lifted their target price on Neurocrine Biosciences from $170.00 to $185.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. Finally, Barclays lifted their target price on Neurocrine Biosciences from $160.00 to $165.00 and gave the stock an “overweight” rating in a report on Monday, December 23rd. Five research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $166.90.

Insider Buying and Selling at Neurocrine Biosciences

In related news, insider Ingrid Delaet sold 272 shares of the business’s stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $138.10, for a total value of $37,563.20. Following the completion of the sale, the insider now owns 2,507 shares in the company, valued at approximately $346,216.70. The trade was a 9.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kevin Charles Gorman sold 5,844 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $116.69, for a total value of $681,936.36. Following the completion of the sale, the director now owns 521,618 shares of the company’s stock, valued at $60,867,604.42. The trade was a 1.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 234,269 shares of company stock worth $34,053,879 over the last 90 days. Company insiders own 4.30% of the company’s stock.

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.