Assetmark Inc. Buys 1,591 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Assetmark Inc. increased its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 8.7% during the 4th quarter, Holdings Channel reports. The firm owned 19,914 shares of the company’s stock after purchasing an additional 1,591 shares during the quarter. Assetmark Inc.’s holdings in Neurocrine Biosciences were worth $2,718,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of NBIX. 17 Capital Partners LLC increased its position in shares of Neurocrine Biosciences by 97.2% in the third quarter. 17 Capital Partners LLC now owns 5,846 shares of the company’s stock worth $674,000 after purchasing an additional 2,881 shares during the last quarter. Covestor Ltd grew its position in Neurocrine Biosciences by 11.5% during the third quarter. Covestor Ltd now owns 1,779 shares of the company’s stock valued at $205,000 after acquiring an additional 183 shares during the last quarter. Sigma Planning Corp bought a new position in Neurocrine Biosciences during the third quarter valued at approximately $230,000. Crossmark Global Holdings Inc. grew its position in Neurocrine Biosciences by 16.5% during the third quarter. Crossmark Global Holdings Inc. now owns 8,487 shares of the company’s stock valued at $978,000 after acquiring an additional 1,204 shares during the last quarter. Finally, Los Angeles Capital Management LLC grew its position in Neurocrine Biosciences by 639.6% during the third quarter. Los Angeles Capital Management LLC now owns 420,748 shares of the company’s stock valued at $48,479,000 after acquiring an additional 363,863 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors.

Neurocrine Biosciences Trading Up 0.3 %

Shares of Neurocrine Biosciences stock opened at $113.04 on Monday. The firm has a market capitalization of $11.27 billion, a P/E ratio of 34.36, a P/E/G ratio of 0.77 and a beta of 0.35. The business has a fifty day simple moving average of $132.47 and a two-hundred day simple moving average of $127.02. Neurocrine Biosciences, Inc. has a 12 month low of $110.25 and a 12 month high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly 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 net margin of 14.49% and a return on equity of 13.38%. Analysts predict 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 buyback program on Friday, February 21st that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 4.2% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In other Neurocrine Biosciences news, insider Julie Cooke sold 1,551 shares of the business’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $116.78, for a total transaction of $181,125.78. Following the completion of the sale, the insider now directly owns 19,544 shares in the company, valued at $2,282,348.32. The trade was a 7.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kevin Charles Gorman sold 146,105 shares of the business’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $149.46, for a total value of $21,836,853.30. Following the sale, the director now owns 514,596 shares of the company’s stock, valued at approximately $76,911,518.16. This represents a 22.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 234,269 shares of company stock worth $34,053,879. 4.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Morgan Stanley reiterated an “overweight” rating and set a $150.00 price target (down from $185.00) on shares of Neurocrine Biosciences in a research report on Friday. Piper Sandler reiterated an “overweight” rating and set a $160.00 price target on shares of Neurocrine Biosciences in a research report on Monday, December 23rd. William Blair reiterated an “outperform” rating on shares of Neurocrine Biosciences in a research report on Friday, February 7th. Bank of America reduced their price target on shares of Neurocrine Biosciences from $184.00 to $179.00 and set a “buy” rating on the stock in a research report on Friday, February 7th. Finally, Canaccord Genuity Group cut their target price on shares of Neurocrine Biosciences from $172.00 to $163.00 and set a “buy” rating on the stock in a report on Friday, February 7th. Five 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’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $165.24.

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.