Generali Asset Management SPA SGR Makes New $3.22 Million Investment in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Generali Asset Management SPA SGR purchased a new stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 23,605 shares of the company’s stock, valued at approximately $3,222,000.

A number of other hedge funds have also modified their holdings of NBIX. Raymond James Financial Inc. acquired a new stake in Neurocrine Biosciences during the fourth quarter valued at $115,193,000. Thrivent Financial for Lutherans raised its stake in shares of Neurocrine Biosciences by 2,759.4% during the 4th quarter. Thrivent Financial for Lutherans now owns 737,772 shares of the company’s stock worth $100,705,000 after purchasing an additional 711,970 shares in the last quarter. State Street Corp lifted its holdings in shares of Neurocrine Biosciences by 11.7% during the 3rd 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 during the last quarter. Jennison Associates LLC grew its stake in shares of Neurocrine Biosciences by 145.1% in the 4th 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 in the last quarter. Finally, Impax Asset Management Group plc increased its holdings in Neurocrine Biosciences by 207.8% in the fourth quarter. Impax Asset Management Group plc now owns 261,599 shares of the company’s stock worth $35,708,000 after buying an additional 176,599 shares during the last quarter. 92.59% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Julie Cooke sold 700 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $118.28, for a total value of $82,796.00. Following the completion of the transaction, the insider now directly owns 18,831 shares of the company’s stock, valued at approximately $2,227,330.68. This represents a 3.58 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Ingrid Delaet sold 272 shares of the firm’s stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $138.10, for a total value of $37,563.20. Following the transaction, the insider now owns 2,507 shares of the company’s stock, valued at $346,216.70. This trade represents a 9.79 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 233,178 shares of company stock worth $33,906,594. Corporate insiders own 4.30% of the company’s stock.

Neurocrine Biosciences Trading Up 0.6 %

Shares of NBIX stock opened at $110.31 on Thursday. Neurocrine Biosciences, Inc. has a 12 month low of $105.18 and a 12 month high of $157.98. The company has a market capitalization of $11.00 billion, a P/E ratio of 33.53, a P/E/G ratio of 0.77 and a beta of 0.35. The stock has a 50 day moving average of $128.06 and a two-hundred day moving average of $125.36.

Neurocrine Biosciences (NASDAQ:NBIX) last issued 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 predict that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

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

Wall Street Analyst Weigh In

NBIX has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft started coverage on shares of Neurocrine Biosciences in a research note on Tuesday, February 11th. They issued a “hold” rating and a $138.00 target price for the company. Royal Bank of Canada decreased their price objective on shares of Neurocrine Biosciences from $154.00 to $148.00 and set a “sector perform” rating for the company in a report on Friday, February 7th. UBS Group raised their target price on Neurocrine Biosciences from $162.00 to $176.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Barclays boosted their price target on Neurocrine Biosciences from $160.00 to $165.00 and gave the stock an “overweight” rating in a research report on Monday, December 23rd. Finally, Wedbush lowered their price objective on Neurocrine Biosciences from $157.00 to $147.00 and set an “outperform” rating on the stock 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 stock. Based on data from MarketBeat.com, Neurocrine Biosciences presently has an average rating of “Moderate Buy” and an average target price of $165.24.

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.