DnB Asset Management AS Has $16.14 Million Stock Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

DnB Asset Management AS boosted its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 3.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 118,227 shares of the company’s stock after acquiring an additional 3,500 shares during the quarter. DnB Asset Management AS’s holdings in Neurocrine Biosciences were worth $16,138,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Caprock Group LLC acquired a new stake in shares of Neurocrine Biosciences during the fourth quarter worth approximately $236,000. Charles Schwab Investment Management Inc. lifted its position in Neurocrine Biosciences by 2.0% in 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 in the last quarter. Tri Ri Asset Management Corp purchased a new position in shares of Neurocrine Biosciences during the 3rd quarter valued at $3,236,000. Oakworth Capital Inc. acquired a new position in shares of Neurocrine Biosciences in the fourth quarter worth $379,000. Finally, Synergy Asset Management LLC purchased a new stake in shares of Neurocrine Biosciences during the fourth quarter worth $996,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Insider Buying and Selling at Neurocrine Biosciences

In related news, CFO Matt Abernethy sold 1,283 shares of the firm’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $152.87, for a total transaction of $196,132.21. Following the completion of the sale, the chief financial officer now directly owns 32,681 shares of the company’s stock, valued at $4,995,944.47. This trade represents a 3.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Kyle Gano sold 65,000 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $141.50, for a total value of $9,197,500.00. Following the sale, the chief executive officer now owns 135,392 shares in the company, valued at $19,157,968. The trade was a 32.44 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 233,178 shares of company stock valued at $33,906,594. 4.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Morgan Stanley reaffirmed an “overweight” rating and issued a $150.00 target price (down from $185.00) on shares of Neurocrine Biosciences in a research report on Friday, March 7th. Guggenheim dropped their price objective on Neurocrine Biosciences from $165.00 to $163.00 and set a “buy” rating on the stock in a report on Monday, February 10th. HC Wainwright reiterated a “buy” rating and issued a $185.00 target price on shares of Neurocrine Biosciences in a research note on Friday, February 21st. Canaccord Genuity Group dropped their price target on shares of Neurocrine Biosciences from $172.00 to $163.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. Finally, Bank of America reduced their price objective 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. Five investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Neurocrine Biosciences currently has an average rating of “Moderate Buy” and a consensus target price of $165.38.

Neurocrine Biosciences Stock Down 0.7 %

NASDAQ NBIX opened at $113.16 on Friday. Neurocrine Biosciences, Inc. has a twelve month low of $105.18 and a twelve month high of $157.98. The stock has a market cap of $11.28 billion, a P/E ratio of 34.40, a PEG ratio of 0.77 and a beta of 0.35. The company’s 50-day simple moving average is $124.17 and its 200 day simple moving average is $124.90.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its earnings results on Thursday, February 6th. The company reported $1.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.62 by ($0.62). Neurocrine Biosciences had a return on equity of 13.38% and a net margin of 14.49%. Research 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 authorized a share buyback program on Friday, February 21st that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 4.2% of its shares through open market purchases. Shares repurchase programs are usually an indication 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.