Generali Asset Management SPA SGR Takes $3.22 Million Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Generali Asset Management SPA SGR bought a new stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 23,605 shares of the company's stock, valued at approximately $3,222,000.

Several other hedge funds and other institutional investors also recently modified their holdings of NBIX. Golden State Wealth Management LLC bought a new stake in Neurocrine Biosciences during the 4th quarter valued at approximately $25,000. Brooklyn Investment Group boosted its position in shares of Neurocrine Biosciences by 99.1% during the fourth quarter. Brooklyn Investment Group now owns 231 shares of the company's stock valued at $32,000 after purchasing an additional 115 shares in the last quarter. Lindbrook Capital LLC grew its stake in Neurocrine Biosciences by 53.5% in the fourth quarter. Lindbrook Capital LLC now owns 373 shares of the company's stock worth $51,000 after purchasing an additional 130 shares during the period. R Squared Ltd bought a new position in Neurocrine Biosciences in the fourth quarter worth $61,000. Finally, UMB Bank n.a. raised its holdings in Neurocrine Biosciences by 211.6% in the fourth quarter. UMB Bank n.a. now owns 455 shares of the company's stock worth $62,000 after purchasing an additional 309 shares in the last quarter. Hedge funds and other institutional investors own 92.59% of the company's stock.

Neurocrine Biosciences Price Performance

Shares of NBIX traded up $3.68 on Monday, reaching $115.60. The company's stock had a trading volume of 1,180,024 shares, compared to its average volume of 958,868. The stock's 50 day simple moving average is $126.90 and its two-hundred day simple moving average is $125.17. The stock has a market capitalization of $11.53 billion, a P/E ratio of 35.14, a PEG ratio of 0.77 and a beta of 0.35. Neurocrine Biosciences, Inc. has a 12-month low of $105.18 and a 12-month high of $157.98.

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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 (EPS) 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%. Analysts expect 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 share buyback program on Friday, February 21st that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to buy up to 4.2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's board believes its shares are undervalued.

Analyst Ratings Changes

Several research firms recently commented on NBIX. HC Wainwright reissued a "buy" rating and set a $185.00 price objective on shares of Neurocrine Biosciences in a research note on Friday, February 21st. UBS Group upped their price target on Neurocrine Biosciences from $162.00 to $176.00 and gave the stock a "buy" rating in a research note on Thursday, January 30th. Guggenheim lowered their price objective on Neurocrine Biosciences from $165.00 to $163.00 and set a "buy" rating for the company in a research note on Monday, February 10th. William Blair reissued an "outperform" rating on shares of Neurocrine Biosciences in a research note on Friday, February 7th. Finally, Barclays lifted their price target 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 equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $165.24.

Insider Buying and Selling at Neurocrine Biosciences

In other Neurocrine Biosciences news, insider Ingrid Delaet sold 272 shares of the firm's stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $138.10, for a total transaction 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. This trade represents a 9.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Matt Abernethy sold 1,283 shares of the company'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 transaction, the chief financial officer now directly owns 32,681 shares of the company's stock, valued at approximately $4,995,944.47. This trade represents a 3.78 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 233,178 shares of company stock valued at $33,906,594. Company insiders own 4.30% of the company's stock.

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.