Plato Investment Management Ltd Sells 129 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Plato Investment Management Ltd decreased its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 1.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,844 shares of the company’s stock after selling 129 shares during the period. Plato Investment Management Ltd’s holdings in Neurocrine Biosciences were worth $1,486,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in NBIX. State Street Corp lifted its stake in Neurocrine Biosciences by 11.7% in the 3rd quarter. State Street Corp now owns 5,148,293 shares of the company’s stock valued at $593,186,000 after purchasing an additional 539,936 shares during the last quarter. Jennison Associates LLC raised its stake in shares of 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 last quarter. Los Angeles Capital Management LLC raised its stake in shares of 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 last quarter. Impax Asset Management Group plc raised its stake in shares of 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 last quarter. Finally, Braidwell LP raised its stake in shares of 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 last quarter. Institutional investors own 92.59% of the company’s stock.

Analyst Upgrades and Downgrades

NBIX has been the subject of several analyst reports. Canaccord Genuity Group dropped their price target on shares of Neurocrine Biosciences from $172.00 to $163.00 and set a “buy” rating for the company in a research note on Friday, February 7th. UBS Group raised their price target on shares of Neurocrine Biosciences from $162.00 to $176.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Bank of America dropped their price target on shares of Neurocrine Biosciences from $184.00 to $179.00 and set a “buy” rating for the company in a research note on Friday, February 7th. HC Wainwright reiterated a “buy” rating and set a $185.00 price objective on shares of Neurocrine Biosciences in a research report on Friday, February 21st. Finally, Barclays boosted their target price on shares of Neurocrine Biosciences from $160.00 to $165.00 and gave the company an “overweight” rating in a report on Monday, December 23rd. Five analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Neurocrine Biosciences has an average rating of “Moderate Buy” and an average target price of $166.90.

Insider Activity at Neurocrine Biosciences

In other news, CFO Matt Abernethy sold 1,283 shares of the stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $152.87, for a total value of $196,132.21. Following the completion of the sale, the chief financial officer now owns 32,681 shares in the company, valued at $4,995,944.47. This represents a 3.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kevin Charles Gorman sold 2,707 shares of the business’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $152.92, for a total transaction of $413,954.44. Following the transaction, the director now owns 517,030 shares in the company, valued at approximately $79,064,227.60. This trade represents a 0.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 234,269 shares of company stock valued at $34,053,879. 4.30% of the stock is owned by insiders.

Neurocrine Biosciences Price Performance

NASDAQ:NBIX opened at $114.48 on Tuesday. The firm has a 50-day moving average of $134.45 and a 200-day moving average of $128.02. The company has a market cap of $11.41 billion, a PE ratio of 34.80, a PEG ratio of 0.77 and a beta of 0.33. Neurocrine Biosciences, Inc. has a one year low of $110.95 and a one year high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its earnings results on Thursday, February 6th. The company reported $1.00 EPS for the quarter, missing the consensus estimate of $1.62 by ($0.62). Neurocrine Biosciences had a return on equity of 13.38% and a net margin of 14.49%. On average, equities 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 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 repurchase up to 4.2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management 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.