CIBC Asset Management Inc Has $557,000 Stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

CIBC Asset Management Inc increased its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 13.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,078 shares of the company’s stock after buying an additional 487 shares during the period. CIBC Asset Management Inc’s holdings in Neurocrine Biosciences were worth $557,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in NBIX. Golden State Wealth Management LLC acquired a new position in Neurocrine Biosciences during the fourth quarter worth $25,000. Brooklyn Investment Group increased its holdings in Neurocrine Biosciences by 99.1% during the fourth quarter. Brooklyn Investment Group now owns 231 shares of the company’s stock worth $32,000 after buying an additional 115 shares during the last quarter. Blue Trust Inc. increased its holdings in Neurocrine Biosciences by 171.9% during the third quarter. Blue Trust Inc. now owns 348 shares of the company’s stock worth $40,000 after buying an additional 220 shares during the last quarter. R Squared Ltd acquired a new position in Neurocrine Biosciences during the fourth quarter worth $61,000. Finally, UMB Bank n.a. increased its holdings in Neurocrine Biosciences by 211.6% during the fourth quarter. UMB Bank n.a. now owns 455 shares of the company’s stock worth $62,000 after buying an additional 309 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Neurocrine Biosciences

In other news, insider Julie Cooke sold 1,551 shares of the 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 completion of the transaction, the insider now owns 19,544 shares of the company’s stock, valued at approximately $2,282,348.32. This represents a 7.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kevin Charles Gorman sold 2,707 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $152.92, for a total value of $413,954.44. Following the completion of the transaction, the director now directly owns 517,030 shares of the company’s stock, valued at $79,064,227.60. This represents a 0.52 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 236,600 shares of company stock valued at $34,348,261. 4.30% of the stock is currently owned by insiders.

Neurocrine Biosciences Stock Up 3.9 %

NBIX opened at $120.69 on Friday. Neurocrine Biosciences, Inc. has a twelve month low of $110.95 and a twelve month high of $157.98. The company has a 50-day simple moving average of $136.63 and a 200 day simple moving average of $129.41. The stock has a market capitalization of $12.03 billion, a price-to-earnings ratio of 36.68, a P/E/G ratio of 0.77 and a beta of 0.33.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings data on Thursday, February 6th. The company reported $1.00 earnings per share 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 EPS for the current fiscal year.

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

Wall Street Analysts Forecast Growth

Several research firms have commented on NBIX. William Blair reiterated an “outperform” rating on shares of Neurocrine Biosciences in a report on Friday, February 7th. Bank of America decreased their price objective on shares of Neurocrine Biosciences from $184.00 to $179.00 and set a “buy” rating on the stock in a report on Friday, February 7th. Barclays upped their price objective on shares of 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 began coverage on shares of Neurocrine Biosciences in a report on Tuesday, February 11th. They issued a “hold” rating and a $138.00 price objective on the stock. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Neurocrine Biosciences in a report on Friday, February 7th. Five equities research 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $166.90.

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.