Connor Clark & Lunn Investment Management Ltd. Purchases 46,396 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 270.0% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 63,582 shares of the company's stock after purchasing an additional 46,396 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.06% of Neurocrine Biosciences worth $8,679,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Caprock Group LLC bought a new position in shares of Neurocrine Biosciences in the fourth quarter valued at approximately $236,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Neurocrine Biosciences by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 762,557 shares of the company's stock valued at $104,089,000 after acquiring an additional 15,266 shares in the last quarter. Swiss National Bank grew its holdings in shares of Neurocrine Biosciences by 1.4% in the third quarter. Swiss National Bank now owns 298,700 shares of the company's stock valued at $34,416,000 after acquiring an additional 4,100 shares in the last quarter. Tri Ri Asset Management Corp bought a new position in shares of Neurocrine Biosciences in the third quarter valued at approximately $3,236,000. Finally, KBC Group NV grew its holdings in shares of Neurocrine Biosciences by 78.3% in the third quarter. KBC Group NV now owns 18,972 shares of the company's stock valued at $2,186,000 after acquiring an additional 8,332 shares in the last quarter. 92.59% of the stock is owned by institutional investors.

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Analysts Set New Price Targets

Several brokerages have weighed in on NBIX. William Blair reissued an "outperform" rating on shares of Neurocrine Biosciences in a report on Friday, February 7th. StockNews.com raised Neurocrine Biosciences from a "buy" rating to a "strong-buy" rating in a report on Wednesday, March 12th. Needham & Company LLC reissued a "hold" rating on shares of Neurocrine Biosciences in a report on Friday, February 7th. Morgan Stanley restated an "overweight" rating and set a $150.00 target price (down previously from $185.00) on shares of Neurocrine Biosciences in a research report on Friday, March 7th. Finally, Barclays increased their target price on Neurocrine Biosciences from $160.00 to $165.00 and gave the stock an "overweight" rating in a research report on Monday, December 23rd. Five analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Neurocrine Biosciences currently has an average rating of "Moderate Buy" and a consensus price target of $165.24.

Insider Activity at Neurocrine Biosciences

In other news, insider Ingrid Delaet sold 272 shares of the business's stock in a transaction that occurred on 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 $346,216.70. The trade was a 9.79 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kevin Charles Gorman sold 5,844 shares of the business's stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $116.69, for a total value of $681,936.36. Following the completion of the sale, the director now directly owns 521,618 shares in the company, valued at approximately $60,867,604.42. This represents a 1.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 233,178 shares of company stock worth $33,906,594 in the last 90 days. Company insiders own 4.30% of the company's stock.

Neurocrine Biosciences Price Performance

NASDAQ NBIX traded up $0.61 during trading hours on Wednesday, reaching $110.31. 910,077 shares of the stock traded hands, compared to its average volume of 1,320,457. The stock has a 50 day simple moving average of $128.62 and a two-hundred day simple moving average of $125.47. Neurocrine Biosciences, Inc. has a 1 year low of $105.18 and a 1 year high of $157.98. The company has a market cap of $11.00 billion, a price-to-earnings ratio of 33.53, a price-to-earnings-growth ratio of 0.77 and a beta of 0.35.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) 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 return on equity of 13.38% and a net margin of 14.49%. On average, sell-side analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

Neurocrine Biosciences declared that its board has initiated a stock repurchase plan on Friday, February 21st that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 4.2% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's management believes its stock is undervalued.

Neurocrine Biosciences 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.