Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Shares Acquired by Summit Global Investments

Summit Global Investments lifted its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 35.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 40,733 shares of the company’s stock after purchasing an additional 10,696 shares during the period. Summit Global Investments’ holdings in Neurocrine Biosciences were worth $5,367,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of NBIX. Los Angeles Capital Management LLC increased its stake in Neurocrine Biosciences by 66.0% in the 4th quarter. Los Angeles Capital Management LLC now owns 918,391 shares of the company’s stock worth $121,007,000 after purchasing an additional 364,986 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Neurocrine Biosciences by 120.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 584,539 shares of the company’s stock valued at $65,761,000 after acquiring an additional 319,564 shares in the last quarter. Westfield Capital Management Co. LP boosted its stake in Neurocrine Biosciences by 73.0% in the 3rd quarter. Westfield Capital Management Co. LP now owns 649,292 shares of the company’s stock worth $73,045,000 after purchasing an additional 273,952 shares during the period. Jacobs Levy Equity Management Inc. grew its position in Neurocrine Biosciences by 59.0% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 692,374 shares of the company’s stock worth $77,892,000 after purchasing an additional 256,920 shares in the last quarter. Finally, Jennison Associates LLC raised its stake in Neurocrine Biosciences by 86.0% during the 3rd quarter. Jennison Associates LLC now owns 409,475 shares of the company’s stock valued at $46,066,000 after purchasing an additional 189,345 shares during the period. 92.59% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Neurocrine Biosciences

In related news, insider David W. Boyer sold 456 shares of the business’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $141.96, for a total transaction of $64,733.76. Following the transaction, the insider now directly owns 4,894 shares in the company, valued at $694,752.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider David W. Boyer sold 456 shares of the company’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $141.96, for a total transaction of $64,733.76. Following the completion of the transaction, the insider now directly owns 4,894 shares of the company’s stock, valued at approximately $694,752.24. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Ingrid Delaet sold 200 shares of Neurocrine Biosciences stock in a transaction on Monday, March 11th. The shares were sold at an average price of $140.00, for a total transaction of $28,000.00. Following the completion of the transaction, the insider now directly owns 7,507 shares in the company, valued at $1,050,980. The disclosure for this sale can be found here. Insiders sold a total of 181,547 shares of company stock worth $25,039,887 in the last 90 days. Corporate insiders own 4.30% of the company’s stock.

Neurocrine Biosciences Stock Down 1.7 %

NASDAQ:NBIX traded down $2.47 during midday trading on Thursday, hitting $140.56. The stock had a trading volume of 607,736 shares, compared to its average volume of 852,535. The stock has a 50-day moving average of $137.11 and a 200 day moving average of $128.51. Neurocrine Biosciences, Inc. has a one year low of $89.04 and a one year high of $148.37. The company has a market capitalization of $13.99 billion, a price-to-earnings ratio of 58.21 and a beta of 0.28.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings results on Wednesday, February 7th. The company reported $1.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.31. The business had revenue of $515.20 million for the quarter, compared to analyst estimates of $518.52 million. Neurocrine Biosciences had a return on equity of 12.85% and a net margin of 13.23%. The company’s revenue was up 25.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.88 earnings per share. On average, sell-side analysts anticipate that Neurocrine Biosciences, Inc. will post 4.8 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

NBIX has been the topic of several research analyst reports. HC Wainwright lifted their target price on Neurocrine Biosciences from $150.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday. Oppenheimer boosted their target price on shares of Neurocrine Biosciences from $200.00 to $216.00 and gave the stock an “outperform” rating in a research report on Thursday. JPMorgan Chase & Co. lifted their target price on shares of Neurocrine Biosciences from $148.00 to $158.00 and gave the company an “overweight” rating in a research note on Wednesday, March 20th. BMO Capital Markets increased their price target on shares of Neurocrine Biosciences from $129.00 to $138.00 and gave the company a “market perform” rating in a research note on Thursday. Finally, Canaccord Genuity Group lifted their price objective on Neurocrine Biosciences from $154.00 to $164.00 and gave the stock a “buy” rating in a research note on Thursday. Six research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $147.46.

Neurocrine Biosciences 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.