Plato Investment Management Ltd Decreases Holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Plato Investment Management Ltd decreased its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 1.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 10,844 shares of the company’s stock after selling 129 shares during the period. Plato Investment Management Ltd’s holdings in Neurocrine Biosciences were worth $1,486,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue lifted its stake in Neurocrine Biosciences by 7.3% in the third quarter. State of Alaska Department of Revenue now owns 11,735 shares of the company’s stock valued at $1,352,000 after purchasing an additional 795 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its stake in shares of Neurocrine Biosciences by 16.0% in the third quarter. Robeco Institutional Asset Management B.V. now owns 387,282 shares of the company’s stock valued at $44,623,000 after buying an additional 53,301 shares during the period. Asset Management One Co. Ltd. raised its stake in shares of Neurocrine Biosciences by 2.5% in the third quarter. Asset Management One Co. Ltd. now owns 69,230 shares of the company’s stock valued at $7,977,000 after buying an additional 1,705 shares during the period. QRG Capital Management Inc. lifted its position in shares of Neurocrine Biosciences by 3.2% during the 3rd quarter. QRG Capital Management Inc. now owns 18,279 shares of the company’s stock valued at $2,106,000 after buying an additional 569 shares during the last quarter. Finally, Impax Asset Management Group plc grew its stake in shares of Neurocrine Biosciences by 70.0% during the 3rd quarter. Impax Asset Management Group plc now owns 85,000 shares of the company’s stock worth $9,794,000 after acquiring an additional 35,000 shares during the period. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Neurocrine Biosciences news, CEO Kyle Gano sold 65,000 shares of Neurocrine Biosciences stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $141.50, for a total transaction of $9,197,500.00. Following the completion of the sale, the chief executive officer now owns 135,392 shares of the company’s stock, valued at $19,157,968. The trade was a 32.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Ingrid Delaet sold 272 shares of Neurocrine Biosciences stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $138.10, for a total value of $37,563.20. Following the sale, the insider now directly owns 2,507 shares of the company’s stock, valued at approximately $346,216.70. This trade represents a 9.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 234,269 shares of company stock valued at $34,053,879 over the last 90 days. Insiders own 4.30% of the company’s stock.

Neurocrine Biosciences Stock Performance

NASDAQ:NBIX opened at $114.48 on Tuesday. The firm has a market capitalization of $11.41 billion, a price-to-earnings ratio of 34.80, a P/E/G ratio of 0.77 and a beta of 0.33. Neurocrine Biosciences, Inc. has a 52-week low of $110.95 and a 52-week high of $157.98. The stock has a fifty day moving average of $134.45 and a 200 day moving average of $128.02.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings data on Thursday, February 6th. The company reported $1.00 earnings per share (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%. Equities analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

Neurocrine Biosciences announced that its board has authorized a share repurchase plan on Friday, February 21st that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to buy up to 4.2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on NBIX. Piper Sandler restated an “overweight” rating and issued a $160.00 price objective on shares of Neurocrine Biosciences in a research note on Monday, December 23rd. Morgan Stanley boosted their price target 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. UBS Group raised their price objective on shares of Neurocrine Biosciences from $162.00 to $176.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Deutsche Bank Aktiengesellschaft started coverage on shares of Neurocrine Biosciences in a report on Tuesday, February 11th. They set a “hold” rating and a $138.00 target price on the stock. Finally, Canaccord Genuity Group cut their price target on Neurocrine Biosciences from $172.00 to $163.00 and set a “buy” rating for the company in a report on Friday, February 7th. Five equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Neurocrine Biosciences has an average rating of “Moderate Buy” and an average target price of $166.90.

Neurocrine Biosciences Company 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.