9,502 Shares in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Acquired by Illumine Investment Management LLC

Illumine Investment Management LLC bought a new stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) during the 4th quarter, HoldingsChannel reports. The firm bought 9,502 shares of the company’s stock, valued at approximately $1,297,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of NBIX. Caprock Group LLC bought a new position in Neurocrine Biosciences in the 4th quarter worth $236,000. Plato Investment Management Ltd boosted its stake in shares of Neurocrine Biosciences by 2,481.9% during the third quarter. Plato Investment Management Ltd now owns 10,973 shares of the company’s stock valued at $1,263,000 after purchasing an additional 10,548 shares during the period. Swiss National Bank boosted its stake in shares of Neurocrine Biosciences by 1.4% during the third quarter. Swiss National Bank now owns 298,700 shares of the company’s stock valued at $34,416,000 after purchasing an additional 4,100 shares during the period. Tri Ri Asset Management Corp purchased a new stake in Neurocrine Biosciences in the third quarter worth about $3,236,000. Finally, KBC Group NV lifted its position in shares of Neurocrine Biosciences by 78.3% during the third quarter. KBC Group NV now owns 18,972 shares of the company’s stock valued at $2,186,000 after buying an additional 8,332 shares during the last quarter. 92.59% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have commented on NBIX shares. HC Wainwright reissued a “buy” rating and set a $185.00 price target on shares of Neurocrine Biosciences in a research report on Friday, February 21st. Bank of America cut their price target on shares of Neurocrine Biosciences from $184.00 to $179.00 and set a “buy” rating on the stock in a report on Friday, February 7th. Morgan Stanley increased their price target on shares of Neurocrine Biosciences from $170.00 to $185.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. Guggenheim dropped 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. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $160.00 price objective on shares of Neurocrine Biosciences in a research note on Monday, December 23rd. Five research 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 stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $166.90.

Insiders Place Their Bets

In other Neurocrine Biosciences news, Director Kevin Charles Gorman sold 5,844 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $116.69, for a total transaction of $681,936.36. Following the completion of the sale, 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ingrid Delaet sold 272 shares of the firm’s stock in a transaction that occurred on Tuesday, December 31st. The shares were 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 of the company’s stock, valued at approximately $346,216.70. This trade represents a 9.79 % 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 three months. 4.30% of the stock is owned by insiders.

Neurocrine Biosciences Stock Down 0.1 %

Shares of NASDAQ:NBIX opened at $117.51 on Friday. Neurocrine Biosciences, Inc. has a 52-week low of $110.95 and a 52-week high of $157.98. The stock’s fifty day simple moving average is $135.23 and its 200-day simple moving average is $128.73. The company has a market capitalization of $11.72 billion, a P/E ratio of 35.72, a P/E/G 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 (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%. On average, sell-side analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.

Neurocrine Biosciences announced that its Board of Directors has initiated a stock repurchase program on Friday, February 21st that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 4.2% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management 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.