Fisher Asset Management LLC Buys 23,834 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Fisher Asset Management LLC raised its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 34.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 92,104 shares of the company’s stock after acquiring an additional 23,834 shares during the quarter. Fisher Asset Management LLC’s holdings in Neurocrine Biosciences were worth $12,572,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Golden State Wealth Management LLC bought a new stake in Neurocrine Biosciences during the 4th quarter valued at $25,000. Brooklyn Investment Group boosted its position 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 acquiring 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. boosted its position 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 acquiring an additional 309 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its position in shares of Neurocrine Biosciences by 42.0% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 531 shares of the company’s stock worth $72,000 after purchasing an additional 157 shares in the last quarter. Institutional investors own 92.59% of the company’s stock.

Neurocrine Biosciences Stock Performance

NASDAQ NBIX opened at $114.48 on Tuesday. The stock has a 50-day simple moving average of $134.45 and a two-hundred day simple moving average of $128.02. The firm has a market capitalization of $11.41 billion, a P/E ratio of 34.80, a PEG ratio of 0.77 and a beta of 0.33. Neurocrine Biosciences, Inc. has a fifty-two week low of $110.95 and a fifty-two week high of $157.98.

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

Neurocrine Biosciences declared that its Board of Directors has authorized a stock buyback plan on Friday, February 21st that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to reacquire up to 4.2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at Neurocrine Biosciences

In related news, insider Julie Cooke sold 700 shares of Neurocrine Biosciences stock in a transaction dated 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 owns 18,831 shares in the company, valued at $2,227,330.68. The trade was a 3.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ingrid Delaet sold 1,091 shares of Neurocrine Biosciences stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $135.00, for a total value of $147,285.00. Following the completion of the transaction, the insider now owns 2,507 shares of the company’s stock, valued at approximately $338,445. This represents a 30.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 234,269 shares of company stock worth $34,053,879 in the last 90 days. Corporate insiders own 4.30% of the company’s stock.

Analysts Set New Price Targets

NBIX has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on Neurocrine Biosciences in a research report on Tuesday, February 11th. They issued a “hold” rating and a $138.00 price objective for the company. Wedbush lowered their price objective on Neurocrine Biosciences from $157.00 to $147.00 and set an “outperform” rating for the company in a research report on Friday, February 7th. Needham & Company LLC reissued a “hold” rating on shares of Neurocrine Biosciences in a research report on Friday, February 7th. HC Wainwright reissued a “buy” rating and issued a $185.00 price objective on shares of Neurocrine Biosciences in a research report on Friday, February 21st. Finally, StockNews.com cut Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 18th. Five investment 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 company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $166.90.

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.