Assenagon Asset Management S.A. Has $43.52 Million Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Assenagon Asset Management S.A. raised its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 1,405.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 393,455 shares of the company's stock after buying an additional 367,315 shares during the period. Assenagon Asset Management S.A. owned about 0.39% of Neurocrine Biosciences worth $43,516,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Golden State Wealth Management LLC acquired a new stake in shares of Neurocrine Biosciences during the 4th quarter valued at $25,000. Huntington National Bank boosted its stake in shares of Neurocrine Biosciences by 73.5% during the 4th quarter. Huntington National Bank now owns 229 shares of the company's stock valued at $31,000 after buying an additional 97 shares during the period. GeoWealth Management LLC boosted its stake in shares of Neurocrine Biosciences by 65.4% during the 4th quarter. GeoWealth Management LLC now owns 258 shares of the company's stock valued at $35,000 after buying an additional 102 shares during the period. Versant Capital Management Inc raised its holdings in shares of Neurocrine Biosciences by 404.9% during the 1st quarter. Versant Capital Management Inc now owns 409 shares of the company's stock valued at $45,000 after purchasing an additional 328 shares in the last quarter. Finally, Harbor Capital Advisors Inc. bought a new position in shares of Neurocrine Biosciences during the 1st quarter valued at $48,000. Institutional investors and hedge funds own 92.59% of the company's stock.

Neurocrine Biosciences Stock Up 0.5%

NASDAQ NBIX traded up $0.61 during midday trading on Monday, hitting $125.00. The company had a trading volume of 677,426 shares, compared to its average volume of 1,143,666. The stock has a market cap of $12.37 billion, a price-to-earnings ratio of 37.99, a P/E/G ratio of 0.77 and a beta of 0.24. The firm has a fifty day simple moving average of $113.13 and a two-hundred day simple moving average of $121.84. Neurocrine Biosciences, Inc. has a fifty-two week low of $84.23 and a fifty-two week high of $157.98.

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

Neurocrine Biosciences announced that its Board of Directors has authorized a stock repurchase plan on Friday, February 21st that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 4.2% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's board believes its shares are undervalued.

Insiders Place Their Bets

In other news, Director Kevin Charles Gorman sold 9,613 shares of Neurocrine Biosciences stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $120.38, for a total transaction of $1,157,212.94. Following the sale, the director now directly owns 514,596 shares in the company, valued at approximately $61,947,066.48. The trade was a 1.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William H. Rastetter sold 30,000 shares of Neurocrine Biosciences stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $110.20, for a total transaction of $3,306,000.00. Following the sale, the director now owns 37,491 shares in the company, valued at approximately $4,131,508.20. This trade represents a 44.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 4.80% of the company's stock.

Analysts Set New Price Targets

NBIX has been the topic of a number of recent research reports. Evercore ISI cut their price target on shares of Neurocrine Biosciences from $190.00 to $185.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th. Wall Street Zen downgraded shares of Neurocrine Biosciences from a "strong-buy" rating to a "buy" rating in a report on Thursday, March 20th. Canaccord Genuity Group raised their price target on shares of Neurocrine Biosciences from $158.00 to $160.00 and gave the company a "buy" rating in a report on Tuesday, May 6th. Wedbush restated an "outperform" rating on shares of Neurocrine Biosciences in a report on Tuesday, May 6th. Finally, HC Wainwright cut their price target on shares of Neurocrine Biosciences from $185.00 to $168.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Three equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price 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.