APG Asset Management N.V. Takes $7.93 Million Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

APG Asset Management N.V. purchased a new position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 60,189 shares of the company’s stock, valued at approximately $7,934,000. APG Asset Management N.V. owned approximately 0.06% of Neurocrine Biosciences at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in Neurocrine Biosciences by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 10,119,641 shares of the company’s stock worth $1,381,331,000 after purchasing an additional 122,681 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Neurocrine Biosciences by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 1,875,062 shares of the company’s stock valued at $255,523,000 after purchasing an additional 15,830 shares during the last quarter. Wellington Management Group LLP lifted its position in Neurocrine Biosciences by 102.9% during the fourth quarter. Wellington Management Group LLP now owns 1,457,425 shares of the company’s stock worth $198,939,000 after buying an additional 739,199 shares in the last quarter. Invesco Ltd. boosted its stake in Neurocrine Biosciences by 8.6% during the fourth quarter. Invesco Ltd. now owns 949,512 shares of the company’s stock worth $129,608,000 after buying an additional 74,847 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Neurocrine Biosciences by 1.4% in the 4th quarter. Bank of New York Mellon Corp now owns 870,290 shares of the company’s stock valued at $118,795,000 after buying an additional 12,040 shares in the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Neurocrine Biosciences Stock Down 4.8 %

NASDAQ:NBIX opened at $90.72 on Friday. Neurocrine Biosciences, Inc. has a 52 week low of $84.23 and a 52 week high of $157.98. The company has a fifty day simple moving average of $112.91 and a two-hundred day simple moving average of $123.18. The company has a market cap of $9.05 billion, a price-to-earnings ratio of 27.57, a price-to-earnings-growth ratio of 0.77 and a beta of 0.33.

Neurocrine Biosciences (NASDAQ:NBIX) last released its earnings results 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 return on equity of 13.38% and a net margin of 14.49%. On average, analysts expect that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

Neurocrine Biosciences announced that its Board of Directors 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 purchase up to 4.2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Insider Transactions at Neurocrine Biosciences

In other Neurocrine Biosciences news, Director Kevin Charles Gorman sold 5,844 shares of the stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $116.69, for a total value of $681,936.36. Following the transaction, the director now directly owns 521,618 shares in the company, valued at $60,867,604.42. This represents a 1.11 % 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, CEO Kyle Gano sold 65,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 135,392 shares in the company, valued at approximately $19,157,968. The trade was a 32.44 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 232,906 shares of company stock valued at $33,869,030. 4.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

NBIX has been the topic of several recent research reports. StockNews.com cut shares of Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 20th. Morgan Stanley reiterated an “overweight” rating and issued a $150.00 target price (down from $185.00) on shares of Neurocrine Biosciences in a report on Friday, March 7th. Canaccord Genuity Group cut their price target on shares of Neurocrine Biosciences from $172.00 to $163.00 and set a “buy” rating for the company in a report on Friday, February 7th. Needham & Company LLC reiterated a “hold” rating on shares of Neurocrine Biosciences in a report on Friday, February 7th. Finally, UBS Group cut their target price on Neurocrine Biosciences from $154.00 to $137.00 and set a “buy” rating for the company in a research note on Friday, April 4th. Five investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $163.52.

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.