Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Shares Purchased by DnB Asset Management AS

DnB Asset Management AS grew its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 3.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 118,227 shares of the company’s stock after purchasing an additional 3,500 shares during the quarter. DnB Asset Management AS owned 0.12% of Neurocrine Biosciences worth $16,138,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Caprock Group LLC acquired a new stake in Neurocrine Biosciences in the fourth quarter valued at approximately $236,000. Charles Schwab Investment Management Inc. increased its stake in Neurocrine Biosciences by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 762,557 shares of the company’s stock worth $104,089,000 after buying an additional 15,266 shares during the period. Tri Ri Asset Management Corp acquired a new position in Neurocrine Biosciences in the 3rd quarter worth $3,236,000. Oakworth Capital Inc. purchased a new position in Neurocrine Biosciences in the 4th quarter valued at about $379,000. Finally, Synergy Asset Management LLC acquired a new stake in shares of Neurocrine Biosciences during the fourth quarter valued at about $996,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Canaccord Genuity Group lowered their price objective on Neurocrine Biosciences from $172.00 to $163.00 and set a “buy” rating for the company in a research note on Friday, February 7th. Morgan Stanley restated an “overweight” rating and issued a $150.00 price target (down previously from $185.00) on shares of Neurocrine Biosciences in a research note on Friday, March 7th. Guggenheim reduced their price objective on shares of Neurocrine Biosciences from $165.00 to $163.00 and set a “buy” rating on the stock in a research note on Monday, February 10th. 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. Finally, JPMorgan Chase & Co. upped their target price on shares of Neurocrine Biosciences from $183.00 to $184.00 and gave the company an “overweight” rating in a research note on Wednesday. Five investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $165.38.

Neurocrine Biosciences Stock Performance

Shares of NBIX opened at $113.16 on Friday. Neurocrine Biosciences, Inc. has a one year low of $105.18 and a one year high of $157.98. The stock’s fifty day moving average is $124.17 and its 200-day moving average is $124.90. The firm has a market capitalization of $11.28 billion, a price-to-earnings ratio of 34.40, a price-to-earnings-growth ratio of 0.77 and a beta of 0.35.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings data on Thursday, February 6th. The company reported $1.00 EPS for the quarter, missing analysts’ consensus estimates of $1.62 by ($0.62). Neurocrine Biosciences had a net margin of 14.49% and a return on equity of 13.38%. Analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

Neurocrine Biosciences declared that its Board of Directors has approved a stock repurchase program on Friday, February 21st that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to purchase up to 4.2% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Neurocrine Biosciences

In other news, insider Julie Cooke sold 1,551 shares of the stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $116.78, for a total transaction of $181,125.78. Following the completion of the sale, the insider now owns 19,544 shares in the company, valued at approximately $2,282,348.32. This represents a 7.35 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kevin Charles Gorman sold 146,105 shares of the company’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $149.46, for a total value of $21,836,853.30. Following the sale, the director now directly owns 514,596 shares of the company’s stock, valued at approximately $76,911,518.16. This represents a 22.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 233,178 shares of company stock valued at $33,906,594. Corporate insiders own 4.30% of the company’s stock.

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.