Illumine Investment Management LLC Invests $1.30 Million in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Illumine Investment Management LLC acquired a new position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 9,502 shares of the company’s stock, valued at approximately $1,297,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Caprock Group LLC acquired a new stake in shares of Neurocrine Biosciences in the fourth quarter worth $236,000. Plato Investment Management Ltd lifted its position in Neurocrine Biosciences by 2,481.9% in the third quarter. Plato Investment Management Ltd now owns 10,973 shares of the company’s stock worth $1,263,000 after purchasing an additional 10,548 shares during the period. Swiss National Bank lifted its holdings 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 acquiring an additional 4,100 shares during the period. Tri Ri Asset Management Corp bought a new position in shares of Neurocrine Biosciences during the third quarter valued at $3,236,000. Finally, KBC Group NV lifted its holdings 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 acquiring an additional 8,332 shares during the period. Institutional investors and hedge funds own 92.59% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on NBIX shares. Barclays lifted their price objective on Neurocrine Biosciences from $160.00 to $165.00 and gave the company an “overweight” rating in a report on Monday, December 23rd. Deutsche Bank Aktiengesellschaft started coverage on Neurocrine Biosciences in a report on Tuesday, February 11th. They set a “hold” rating and a $138.00 price objective for the company. UBS Group lifted their price objective on Neurocrine Biosciences from $162.00 to $176.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Piper Sandler reaffirmed an “overweight” rating and issued a $160.00 price target on shares of Neurocrine Biosciences in a report on Monday, December 23rd. Finally, Wedbush cut their price target on Neurocrine Biosciences from $157.00 to $147.00 and set an “outperform” rating for the company in a report on Friday, February 7th. Five research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $166.90.

Neurocrine Biosciences Trading Down 0.1 %

Shares of NBIX stock opened at $117.51 on Friday. The stock has a market cap of $11.72 billion, a price-to-earnings ratio of 35.72, a PEG ratio of 0.77 and a beta of 0.33. The stock has a 50-day moving average of $135.23 and a 200-day moving average of $128.73. Neurocrine Biosciences, Inc. has a 1-year low of $110.95 and a 1-year high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX) last released its earnings results on Thursday, February 6th. The company reported $1.00 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 forecast that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.

Neurocrine Biosciences declared that its board has approved a share repurchase plan on Friday, February 21st that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to reacquire up to 4.2% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity

In other news, CEO Kyle Gano sold 65,000 shares of Neurocrine Biosciences 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 completion of the transaction, the chief executive officer now directly owns 135,392 shares in the company, valued at approximately $19,157,968. The trade was a 32.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kevin Charles Gorman sold 2,707 shares of the business’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $152.92, for a total value of $413,954.44. Following the transaction, the director now owns 517,030 shares of the company’s stock, valued at approximately $79,064,227.60. The trade was a 0.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 234,269 shares of company stock worth $34,053,879 over the last 90 days. 4.30% of the stock is currently owned by corporate insiders.

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.