2Xideas AG Makes New Investment in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

2Xideas AG bought a new position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 109,018 shares of the company’s stock, valued at approximately $14,881,000. Neurocrine Biosciences makes up about 2.0% of 2Xideas AG’s portfolio, making the stock its 12th biggest position. 2Xideas AG owned 0.11% of Neurocrine Biosciences as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Caprock Group LLC acquired a new position in Neurocrine Biosciences in the fourth quarter valued at approximately $236,000. Charles Schwab Investment Management Inc. grew its stake in Neurocrine Biosciences by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 762,557 shares of the company’s stock worth $104,089,000 after buying an additional 15,266 shares during the last quarter. Tri Ri Asset Management Corp bought a new position in Neurocrine Biosciences during the 3rd quarter worth $3,236,000. Oakworth Capital Inc. acquired a new stake in Neurocrine Biosciences in the fourth quarter worth $379,000. Finally, Synergy Asset Management LLC bought a new stake in Neurocrine Biosciences in the fourth quarter valued at $996,000. 92.59% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on NBIX shares. Barclays upped their price target on shares of Neurocrine Biosciences from $160.00 to $165.00 and gave the stock an “overweight” rating in a research report on Monday, December 23rd. HC Wainwright restated a “buy” rating and issued a $185.00 target price on shares of Neurocrine Biosciences in a research report on Friday, February 21st. Bank of America cut their price target on Neurocrine Biosciences from $184.00 to $179.00 and set a “buy” rating on the stock in a report on Friday, February 7th. Morgan Stanley reiterated an “overweight” rating and set a $150.00 price objective (down from $185.00) on shares of Neurocrine Biosciences in a research report on Friday, March 7th. Finally, JPMorgan Chase & Co. raised their target price on Neurocrine Biosciences from $183.00 to $184.00 and gave the company an “overweight” rating in a research report on Wednesday, March 26th. Five research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Neurocrine Biosciences presently has an average rating of “Moderate Buy” and a consensus price target of $163.52.

Neurocrine Biosciences Stock Down 7.0 %

Shares of NASDAQ NBIX opened at $95.65 on Friday. The stock’s fifty day simple moving average is $120.01 and its 200 day simple moving average is $124.34. The stock has a market capitalization of $9.54 billion, a price-to-earnings ratio of 29.07, a PEG ratio of 0.77 and a beta of 0.33. Neurocrine Biosciences, Inc. has a 52-week low of $93.59 and a 52-week 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 analysts’ consensus estimates 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, analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.

Neurocrine Biosciences declared that its Board of Directors has approved a share buyback plan on Friday, February 21st that authorizes the company to buyback $500.00 million in outstanding 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 a sign that the company’s board believes its stock is undervalued.

Insider Transactions at Neurocrine Biosciences

In other Neurocrine Biosciences news, insider Ingrid Delaet sold 623 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $149.29, for a total transaction of $93,007.67. Following the completion of the sale, the insider now directly owns 3,442 shares in the company, valued at approximately $513,856.18. This trade represents a 15.33 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Kevin Charles Gorman sold 2,707 shares of Neurocrine Biosciences stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $152.92, for a total value of $413,954.44. Following the transaction, the director now directly owns 517,030 shares in the company, valued at approximately $79,064,227.60. This trade represents a 0.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 232,906 shares of company stock valued at $33,869,030 over the last ninety days. Corporate insiders own 4.30% of the company’s stock.

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.