APG Asset Management N.V. Purchases New Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

APG Asset Management N.V. purchased a new stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 60,189 shares of the company's stock, valued at approximately $7,934,000. APG Asset Management N.V. owned about 0.06% of Neurocrine Biosciences at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. HighPoint Advisor Group LLC grew its holdings in shares of Neurocrine Biosciences by 4.1% in the fourth quarter. HighPoint Advisor Group LLC now owns 2,446 shares of the company's stock valued at $334,000 after purchasing an additional 96 shares in the last quarter. Huntington National Bank grew its stake in shares of Neurocrine Biosciences by 73.5% in the 4th quarter. Huntington National Bank now owns 229 shares of the company's stock worth $31,000 after buying an additional 97 shares in the last quarter. Louisiana State Employees Retirement System increased its holdings in shares of Neurocrine Biosciences by 0.4% in the 4th quarter. Louisiana State Employees Retirement System now owns 28,100 shares of the company's stock worth $3,836,000 after buying an additional 100 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Neurocrine Biosciences by 0.5% during the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 22,361 shares of the company's stock valued at $3,052,000 after buying an additional 103 shares in the last quarter. Finally, Metis Global Partners LLC lifted its holdings in shares of Neurocrine Biosciences by 4.3% in the 4th quarter. Metis Global Partners LLC now owns 2,548 shares of the company's stock valued at $348,000 after acquiring an additional 104 shares during the last quarter. Hedge funds and other institutional investors own 92.59% of the company's stock.

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Insider Transactions at Neurocrine Biosciences

In related news, CEO Kyle Gano sold 65,000 shares of the company's 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 transaction, the chief executive officer now directly owns 135,392 shares of the company's stock, valued at $19,157,968. This represents a 32.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Matt Abernethy sold 1,283 shares of the firm's stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $152.87, for a total value of $196,132.21. Following the completion of the sale, the chief financial officer now directly owns 32,681 shares of the company's stock, valued at approximately $4,995,944.47. This represents a 3.78 % 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 in the last 90 days. Insiders own 4.30% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. William Blair reaffirmed an "outperform" rating on shares of Neurocrine Biosciences 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 Thursday, March 20th. UBS Group reduced their target price on shares of Neurocrine Biosciences from $154.00 to $137.00 and set a "buy" rating on the stock in a research note on Friday, April 4th. Wedbush dropped their price target on shares of Neurocrine Biosciences from $157.00 to $147.00 and set an "outperform" rating for the company in a research note on Friday, February 7th. Finally, Piper Sandler reissued an "overweight" rating and issued a $160.00 price objective on shares of Neurocrine Biosciences in a research report on Monday, December 23rd. Three investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Neurocrine Biosciences currently has an average rating of "Moderate Buy" and an average price target of $161.86.

Neurocrine Biosciences Price Performance

NASDAQ NBIX traded up $1.24 during midday trading on Tuesday, hitting $96.13. 1,230,523 shares of the company traded hands, compared to its average volume of 1,036,308. Neurocrine Biosciences, Inc. has a 52 week low of $84.23 and a 52 week high of $157.98. The company's 50-day simple moving average is $110.55 and its 200-day simple moving average is $122.92. The company has a market cap of $9.58 billion, a PE ratio of 29.22, a price-to-earnings-growth ratio of 0.77 and a beta of 0.33.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last issued 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%. On average, research analysts predict that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.

Neurocrine Biosciences declared that its Board of Directors has initiated a stock repurchase program on Friday, February 21st that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to repurchase up to 4.2% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's leadership 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.