Impax Asset Management Group plc Raises Stock Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Impax Asset Management Group plc boosted its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 207.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 261,599 shares of the company’s stock after acquiring an additional 176,599 shares during the period. Impax Asset Management Group plc owned 0.26% of Neurocrine Biosciences worth $35,708,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. 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 purchasing an additional 539,936 shares during the last quarter. Jennison Associates LLC increased its holdings in shares of Neurocrine Biosciences by 145.1% in the fourth quarter. Jennison Associates LLC now owns 820,694 shares of the company’s stock valued at $112,025,000 after purchasing an additional 485,894 shares during the period. Los Angeles Capital Management LLC lifted its holdings in shares of Neurocrine Biosciences by 639.6% during the third quarter. Los Angeles Capital Management LLC now owns 420,748 shares of the company’s stock worth $48,479,000 after purchasing an additional 363,863 shares during the period. Braidwell LP boosted its position in Neurocrine Biosciences by 20.9% in the third quarter. Braidwell LP now owns 917,674 shares of the company’s stock valued at $105,734,000 after buying an additional 158,665 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in Neurocrine Biosciences by 23.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 533,324 shares of the company’s stock worth $61,450,000 after buying an additional 102,715 shares during the period. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Barclays lifted their price objective on shares of Neurocrine Biosciences from $160.00 to $165.00 and gave the company an “overweight” rating in a research note on Monday, December 23rd. Morgan Stanley boosted their target price on shares of Neurocrine Biosciences from $170.00 to $185.00 and gave the company an “overweight” rating in a research report on Tuesday, February 4th. Needham & Company LLC reaffirmed a “hold” rating on shares of Neurocrine Biosciences in a research report on Friday, February 7th. Bank of America decreased their price objective on Neurocrine Biosciences from $184.00 to $179.00 and set a “buy” rating for the company in a report on Friday, February 7th. Finally, Wedbush dropped their price objective on shares of Neurocrine Biosciences from $157.00 to $147.00 and set an “outperform” rating on the stock in a research note on Friday, February 7th. Five equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Neurocrine Biosciences currently has an average rating of “Moderate Buy” and an average target price of $166.90.

Neurocrine Biosciences Stock Performance

Shares of NBIX stock opened at $120.69 on Monday. Neurocrine Biosciences, Inc. has a one year low of $110.95 and a one year high of $157.98. The company has a 50 day moving average price of $136.63 and a 200 day moving average price of $129.31. The firm has a market capitalization of $12.03 billion, a price-to-earnings ratio of 36.68, a price-to-earnings-growth ratio of 0.77 and a beta of 0.33.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its earnings results 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%. As a group, equities analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

Neurocrine Biosciences announced that its Board of Directors has authorized a stock 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 purchase up to 4.2% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Insider Activity

In other news, CFO Matt Abernethy sold 1,283 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $152.87, for a total value of $196,132.21. Following the completion of the sale, the chief financial officer now directly owns 32,681 shares in the company, valued at approximately $4,995,944.47. The trade was a 3.78 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kevin Charles Gorman sold 146,105 shares of Neurocrine Biosciences stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $149.46, for a total transaction of $21,836,853.30. Following the completion of the transaction, the director now directly owns 514,596 shares of the company’s stock, valued at $76,911,518.16. This trade represents a 22.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 236,600 shares of company stock worth $34,348,261 over the last 90 days. Company insiders own 4.30% of the company’s stock.

About Neurocrine Biosciences

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.