Axa S.A. Boosts Stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

AXA S.A. grew its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 10.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 297,704 shares of the company's stock after acquiring an additional 28,532 shares during the quarter. AXA S.A. owned 0.29% of Neurocrine Biosciences worth $40,637,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in NBIX. AlTi Global Inc. bought a new stake in Neurocrine Biosciences in the 4th quarter valued at about $729,000. Mercer Global Advisors Inc. ADV grew its holdings in Neurocrine Biosciences by 52.0% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 12,112 shares of the company's stock valued at $1,653,000 after buying an additional 4,143 shares in the last quarter. Keel Point LLC bought a new stake in Neurocrine Biosciences during the 4th quarter worth approximately $236,000. Caisse DE Depot ET Placement DU Quebec lifted its stake in Neurocrine Biosciences by 1.6% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 748,359 shares of the company's stock worth $102,151,000 after purchasing an additional 11,449 shares in the last quarter. Finally, Utah Retirement Systems increased its holdings in shares of Neurocrine Biosciences by 0.6% in the fourth quarter. Utah Retirement Systems now owns 16,583 shares of the company's stock worth $2,264,000 after purchasing an additional 100 shares during the period. Institutional investors own 92.59% of the company's stock.

Neurocrine Biosciences Stock Performance

Shares of NASDAQ NBIX traded up $2.62 during midday trading on Wednesday, hitting $121.54. 2,875,637 shares of the stock traded hands, compared to its average volume of 1,101,530. Neurocrine Biosciences, Inc. has a one year low of $84.23 and a one year high of $157.98. The firm has a market capitalization of $12.02 billion, a P/E ratio of 36.94, a PEG ratio of 0.77 and a beta of 0.26. The firm has a 50-day moving average of $106.06 and a two-hundred day moving average of $121.81.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.70 by ($0.62). The firm had revenue of $572.60 million for the quarter, compared to the consensus estimate of $587.06 million. Neurocrine Biosciences had a net margin of 14.49% and a return on equity of 13.38%. The company's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.20 earnings per share. Equities analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

Neurocrine Biosciences declared that its board has approved a stock repurchase program on Friday, February 21st that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 4.2% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's board believes its shares are undervalued.

Insider Activity

In related news, insider Julie Cooke sold 700 shares of Neurocrine Biosciences stock in a transaction on Monday, February 10th. The shares were sold at an average price of $118.28, for a total transaction of $82,796.00. Following the transaction, the insider now owns 18,831 shares in the company, valued at approximately $2,227,330.68. The trade was a 3.58 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William H. Rastetter sold 30,000 shares of the firm's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $110.20, for a total value of $3,306,000.00. Following the sale, the director now directly owns 37,491 shares in the company, valued at approximately $4,131,508.20. This represents a 44.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 43,907 shares of company stock valued at $4,935,982 in the last 90 days. Company insiders own 4.30% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on NBIX shares. Piper Sandler restated an "overweight" rating and set a $154.00 price objective (down previously from $160.00) on shares of Neurocrine Biosciences in a research report on Tuesday. UBS Group upped their price objective on Neurocrine Biosciences from $137.00 to $152.00 and gave the stock a "buy" rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft started coverage on Neurocrine Biosciences in a report on Tuesday, February 11th. They set a "hold" rating and a $138.00 price objective on the stock. Royal Bank of Canada increased their price target on shares of Neurocrine Biosciences from $137.00 to $145.00 and gave the company an "outperform" rating in a research report on Tuesday. Finally, Morgan Stanley restated an "overweight" rating and issued a $150.00 price objective (down from $185.00) on shares of Neurocrine Biosciences in a report on Friday, March 7th. Three research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Neurocrine Biosciences presently has an average rating of "Moderate Buy" and an average price target of $162.00.

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.