Jennison Associates LLC Grows Stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Jennison Associates LLC raised its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 10.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 451,462 shares of the company’s stock after buying an additional 41,987 shares during the period. Jennison Associates LLC owned about 0.46% of Neurocrine Biosciences worth $59,485,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Sunbelt Securities Inc. increased its stake in shares of Neurocrine Biosciences by 34.3% during the third quarter. Sunbelt Securities Inc. now owns 325 shares of the company’s stock valued at $37,000 after buying an additional 83 shares during the period. Lindbrook Capital LLC increased its stake in shares of Neurocrine Biosciences by 85.0% during the fourth quarter. Lindbrook Capital LLC now owns 209 shares of the company’s stock valued at $28,000 after buying an additional 96 shares during the period. Red Spruce Capital LLC increased its stake in shares of Neurocrine Biosciences by 0.6% during the fourth quarter. Red Spruce Capital LLC now owns 16,026 shares of the company’s stock valued at $2,112,000 after buying an additional 101 shares during the period. Metis Global Partners LLC increased its stake in shares of Neurocrine Biosciences by 4.7% during the third quarter. Metis Global Partners LLC now owns 2,361 shares of the company’s stock valued at $266,000 after buying an additional 106 shares during the period. Finally, Signaturefd LLC increased its stake in shares of Neurocrine Biosciences by 5.2% during the fourth quarter. Signaturefd LLC now owns 2,511 shares of the company’s stock valued at $331,000 after buying an additional 125 shares during the period. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Neurocrine Biosciences Trading Up 4.8 %

Shares of NASDAQ:NBIX opened at $140.09 on Wednesday. Neurocrine Biosciences, Inc. has a 12-month low of $89.04 and a 12-month high of $148.37. The company has a market capitalization of $13.94 billion, a PE ratio of 57.89 and a beta of 0.25. The business has a 50 day moving average of $136.34 and a two-hundred day moving average of $127.54.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings results on Wednesday, February 7th. The company reported $1.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.31. The company had revenue of $515.20 million during the quarter, compared to the consensus estimate of $518.52 million. Neurocrine Biosciences had a return on equity of 12.85% and a net margin of 13.23%. Neurocrine Biosciences’s revenue for the quarter was up 25.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.88 earnings per share. Equities research analysts predict that Neurocrine Biosciences, Inc. will post 4.84 earnings per share for the current fiscal year.

Insider Transactions at Neurocrine Biosciences

In other news, Director Richard F. Pops sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $132.47, for a total transaction of $1,987,050.00. Following the completion of the transaction, the director now directly owns 29,512 shares of the company’s stock, valued at approximately $3,909,454.64. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, Director Richard F. Pops sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $132.47, for a total transaction of $1,987,050.00. Following the completion of the sale, the director now directly owns 29,512 shares in the company, valued at $3,909,454.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ingrid Delaet sold 200 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $140.00, for a total value of $28,000.00. Following the sale, the insider now owns 7,507 shares of the company’s stock, valued at $1,050,980. The disclosure for this sale can be found here. Insiders sold a total of 186,994 shares of company stock valued at $25,806,409 in the last three months. 4.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have issued reports on NBIX. The Goldman Sachs Group lifted their target price on Neurocrine Biosciences from $134.00 to $153.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Mizuho lifted their target price on Neurocrine Biosciences from $116.00 to $140.00 and gave the company a “neutral” rating in a research note on Thursday, February 8th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $155.00 target price on shares of Neurocrine Biosciences in a research note on Wednesday, April 10th. Wedbush reiterated an “outperform” rating and issued a $147.00 target price on shares of Neurocrine Biosciences in a research note on Wednesday, April 17th. Finally, Barclays lifted their target price on Neurocrine Biosciences from $145.00 to $150.00 and gave the company an “overweight” rating in a research note on Tuesday, January 23rd. Six investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $140.92.

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.