Generali Asset Management SPA SGR Takes $3.22 Million Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Generali Asset Management SPA SGR bought a new position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 23,605 shares of the company’s stock, valued at approximately $3,222,000.

A number of other large investors have also bought and sold shares of the business. Raymond James Financial Inc. bought a new position in Neurocrine Biosciences in the 4th quarter valued at $115,193,000. Thrivent Financial for Lutherans raised its holdings in shares of Neurocrine Biosciences by 2,759.4% in the fourth quarter. Thrivent Financial for Lutherans now owns 737,772 shares of the company’s stock valued at $100,705,000 after buying an additional 711,970 shares during the last quarter. State Street Corp lifted its position in Neurocrine Biosciences by 11.7% during the 3rd quarter. State Street Corp now owns 5,148,293 shares of the company’s stock worth $593,186,000 after buying an additional 539,936 shares in the last quarter. Jennison Associates LLC grew its holdings in Neurocrine Biosciences by 145.1% during the 4th quarter. Jennison Associates LLC now owns 820,694 shares of the company’s stock worth $112,025,000 after acquiring an additional 485,894 shares during the last quarter. Finally, Impax Asset Management Group plc increased its position in Neurocrine Biosciences by 207.8% in the 4th 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 in the last quarter. 92.59% of the stock is currently owned by institutional investors.

Insider Activity at Neurocrine Biosciences

In other news, Director Kevin Charles Gorman sold 5,844 shares of the firm’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $116.69, for a total value of $681,936.36. Following the completion of the transaction, the director now owns 521,618 shares in the company, valued at $60,867,604.42. This trade represents a 1.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ingrid Delaet sold 272 shares of the company’s stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $138.10, for a total value of $37,563.20. Following the sale, the insider now owns 2,507 shares in the company, valued at $346,216.70. The trade was a 9.79 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 233,178 shares of company stock valued at $33,906,594. 4.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on NBIX shares. Barclays upped their target price on shares of Neurocrine Biosciences from $160.00 to $165.00 and gave the stock an “overweight” rating in a research report on Monday, December 23rd. Bank of America decreased their price objective on Neurocrine Biosciences from $184.00 to $179.00 and set a “buy” rating on the stock in a research report on Friday, February 7th. Wedbush dropped their target price on Neurocrine Biosciences from $157.00 to $147.00 and set an “outperform” rating for the company in a research report on Friday, February 7th. Canaccord Genuity Group decreased their price target on Neurocrine Biosciences from $172.00 to $163.00 and set a “buy” rating on the stock in a report on Friday, February 7th. Finally, Piper Sandler reissued an “overweight” rating and set a $160.00 price objective on shares of Neurocrine Biosciences 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 assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $165.24.

Neurocrine Biosciences Stock Up 0.6 %

Shares of NASDAQ:NBIX opened at $110.31 on Thursday. The firm has a market cap of $11.00 billion, a price-to-earnings ratio of 33.53, a PEG ratio of 0.77 and a beta of 0.35. Neurocrine Biosciences, Inc. has a 12 month low of $105.18 and a 12 month high of $157.98. The company’s fifty day simple moving average is $128.06 and its 200 day simple moving average is $125.36.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly 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%. Research analysts expect that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

Neurocrine Biosciences announced that its Board of Directors has initiated a share 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 reacquire up to 4.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

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.