Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Stock Holdings Boosted by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. lifted its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 270.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 63,582 shares of the company’s stock after buying an additional 46,396 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Neurocrine Biosciences were worth $8,679,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Golden State Wealth Management LLC bought a new stake in Neurocrine Biosciences during the fourth quarter worth approximately $25,000. Brooklyn Investment Group boosted its stake in shares of Neurocrine Biosciences by 99.1% during the 4th quarter. Brooklyn Investment Group now owns 231 shares of the company’s stock worth $32,000 after acquiring an additional 115 shares in the last quarter. Lindbrook Capital LLC grew its holdings in shares of Neurocrine Biosciences by 53.5% in the 4th quarter. Lindbrook Capital LLC now owns 373 shares of the company’s stock worth $51,000 after acquiring an additional 130 shares during the last quarter. R Squared Ltd acquired a new stake in shares of Neurocrine Biosciences during the fourth quarter worth $61,000. Finally, UMB Bank n.a. lifted its holdings in shares of Neurocrine Biosciences by 211.6% during the fourth quarter. UMB Bank n.a. now owns 455 shares of the company’s stock valued at $62,000 after purchasing an additional 309 shares during the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

Neurocrine Biosciences Stock Up 1.6 %

Shares of Neurocrine Biosciences stock opened at $110.75 on Friday. Neurocrine Biosciences, Inc. has a 12-month low of $105.18 and a 12-month high of $157.98. The stock has a 50 day moving average price of $129.69 and a two-hundred day moving average price of $125.69. The stock has a market capitalization of $11.04 billion, a P/E ratio of 33.66, a PEG 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 earnings per share (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%. Sell-side analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.

Neurocrine Biosciences declared that its Board of Directors has approved a share buyback plan 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 shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.

Insider Activity

In other Neurocrine Biosciences news, insider Ingrid Delaet sold 272 shares of the firm’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 sale, the insider now owns 2,507 shares of the company’s stock, valued at $346,216.70. This trade represents a 9.79 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Julie Cooke sold 1,740 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $152.89, for a total value of $266,028.60. Following the transaction, the insider now owns 18,202 shares of the company’s stock, valued at approximately $2,782,903.78. This trade represents a 8.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 234,269 shares of company stock valued at $34,053,879. 4.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on NBIX. Wedbush cut their price objective on Neurocrine Biosciences from $157.00 to $147.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. Guggenheim reduced their price target on shares of Neurocrine Biosciences from $165.00 to $163.00 and set a “buy” rating for the company in a research report on Monday, February 10th. Barclays raised their price objective on shares of Neurocrine Biosciences from $160.00 to $165.00 and gave the stock an “overweight” rating in a research note on Monday, December 23rd. Morgan Stanley restated an “overweight” rating and issued a $150.00 target price (down previously from $185.00) on shares of Neurocrine Biosciences in a report on Friday, March 7th. Finally, UBS Group lifted their price target on Neurocrine Biosciences from $162.00 to $176.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Five equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $165.24.

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.