AIA Group Ltd Takes Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

AIA Group Ltd purchased a new position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,701 shares of the company’s stock, valued at approximately $232,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new position in shares of Neurocrine Biosciences during the fourth quarter worth approximately $115,193,000. Wellington Management Group LLP raised its holdings in Neurocrine Biosciences by 102.9% during the fourth quarter. Wellington Management Group LLP now owns 1,457,425 shares of the company’s stock worth $198,939,000 after buying an additional 739,199 shares during the last quarter. Thrivent Financial for Lutherans raised its holdings in Neurocrine Biosciences by 2,759.4% during the fourth quarter. Thrivent Financial for Lutherans now owns 737,772 shares of the company’s stock worth $100,705,000 after buying an additional 711,970 shares during the last quarter. State Street Corp lifted its stake in shares of Neurocrine Biosciences by 11.7% in the third quarter. State Street Corp now owns 5,148,293 shares of the company’s stock valued at $593,186,000 after buying an additional 539,936 shares in the last quarter. Finally, Jennison Associates LLC grew its holdings 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 buying an additional 485,894 shares during the last quarter. Institutional investors own 92.59% of the company’s stock.

Insiders Place Their Bets

In other Neurocrine Biosciences news, Director Kevin Charles Gorman sold 5,844 shares of the company’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $116.69, for a total value of $681,936.36. Following the transaction, the director now directly owns 521,618 shares in the company, valued at $60,867,604.42. This represents a 1.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Julie Cooke sold 1,551 shares of Neurocrine Biosciences stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $116.78, for a total value of $181,125.78. Following the sale, the insider now owns 19,544 shares of the company’s stock, valued at approximately $2,282,348.32. This trade represents a 7.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 232,906 shares of company stock worth $33,869,030 in the last quarter. 4.30% of the stock is owned by company insiders.

Neurocrine Biosciences Trading Down 3.3 %

Shares of NBIX stock opened at $107.00 on Wednesday. The firm’s 50 day moving average is $122.73 and its 200 day moving average is $124.78. The stock has a market capitalization of $10.67 billion, a P/E ratio of 32.52, a PEG ratio of 0.77 and a beta of 0.35. Neurocrine Biosciences, Inc. has a 12 month low of $98.21 and a 12 month high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its earnings results 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%. On average, equities analysts predict that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

Neurocrine Biosciences declared that its board has approved a share buyback plan on Friday, February 21st that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 4.2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on NBIX shares. Morgan Stanley reaffirmed an “overweight” rating and issued a $150.00 price target (down previously from $185.00) on shares of Neurocrine Biosciences in a research report on Friday, March 7th. Needham & Company LLC restated a “hold” rating on shares of Neurocrine Biosciences in a report on Friday, February 7th. Royal Bank of Canada decreased their price target on Neurocrine Biosciences from $154.00 to $148.00 and set a “sector perform” rating for the company in a report on Friday, February 7th. Canaccord Genuity Group dropped their price objective on 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, William Blair reiterated an “outperform” rating on shares of Neurocrine Biosciences in a research note on Friday, February 7th. Five investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $165.38.

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.