Assetmark Inc. Has $2.72 Million Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Assetmark Inc. raised its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 8.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of NBIX. Golden State Wealth Management LLC bought a new stake in Neurocrine Biosciences during the 4th quarter valued at $25,000. Brooklyn Investment Group increased its stake in Neurocrine Biosciences by 99.1% during the 4th quarter. Brooklyn Investment Group now owns 231 shares of the company’s stock valued at $32,000 after purchasing an additional 115 shares in the last quarter. R Squared Ltd bought a new stake in Neurocrine Biosciences during the 4th quarter valued at $61,000. UMB Bank n.a. increased its stake in Neurocrine Biosciences by 211.6% during the 4th quarter. UMB Bank n.a. now owns 455 shares of the company’s stock valued at $62,000 after purchasing an additional 309 shares in the last quarter. Finally, Truvestments Capital LLC bought a new stake in Neurocrine Biosciences during the 3rd quarter valued at $63,000. Institutional investors own 92.59% of the company’s stock.

Insider Buying and Selling at Neurocrine Biosciences

In other news, Director Kevin Charles Gorman sold 146,105 shares of the 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 directly 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Julie Cooke sold 1,551 shares of the 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 approximately $2,282,348.32. The trade was a 7.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 234,269 shares of company stock valued at $34,053,879 over the last three months. 4.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

NBIX has been the subject of a number of recent research reports. Royal Bank of Canada decreased their price target on shares of Neurocrine Biosciences from $154.00 to $148.00 and set a “sector perform” rating for the company in a research note on Friday, February 7th. StockNews.com lowered shares of Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 18th. Guggenheim reduced their target price on shares of Neurocrine Biosciences from $165.00 to $163.00 and set a “buy” rating for the company in a research note on Monday, February 10th. Deutsche Bank Aktiengesellschaft began 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. Finally, Barclays upped their target price on shares of Neurocrine Biosciences from $160.00 to $165.00 and gave the stock an “overweight” rating in a research note on Monday, December 23rd. 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $165.24.

Neurocrine Biosciences Stock Up 0.3 %

NASDAQ NBIX opened at $113.04 on Monday. The company has a market cap of $11.27 billion, a PE ratio of 34.36, a price-to-earnings-growth ratio of 0.77 and a beta of 0.35. Neurocrine Biosciences, Inc. has a 52 week low of $110.25 and a 52 week high of $157.98. The firm’s 50-day simple moving average is $132.47 and its two-hundred day simple moving average is $127.02.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings data 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 net margin of 14.49% and a return on equity of 13.38%. As a group, equities research analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

Neurocrine Biosciences announced that its Board of Directors has initiated a share repurchase program 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 shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

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.