Cinctive Capital Management LP Acquires New Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Cinctive Capital Management LP acquired a new position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 16,366 shares of the company’s stock, valued at approximately $2,234,000.

A number of other institutional investors also recently bought and sold shares of the company. Quantbot Technologies LP purchased a new stake in shares of Neurocrine Biosciences during the 3rd quarter valued at approximately $89,000. Verition Fund Management LLC acquired a new stake in Neurocrine Biosciences during the third quarter worth $959,000. Investment Management Corp of Ontario raised its position in Neurocrine Biosciences by 33.5% in the third quarter. Investment Management Corp of Ontario now owns 4,778 shares of the company’s stock valued at $551,000 after purchasing an additional 1,200 shares during the period. Parkman Healthcare Partners LLC lifted its stake in shares of Neurocrine Biosciences by 12.7% in the 3rd quarter. Parkman Healthcare Partners LLC now owns 129,840 shares of the company’s stock valued at $14,960,000 after purchasing an additional 14,670 shares during the last quarter. Finally, Royal London Asset Management Ltd. grew its holdings in shares of Neurocrine Biosciences by 13.3% during the 3rd quarter. Royal London Asset Management Ltd. now owns 51,533 shares of the company’s stock worth $5,938,000 after purchasing an additional 6,060 shares during the period. 92.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on NBIX shares. Barclays boosted their price objective on shares of Neurocrine Biosciences from $160.00 to $165.00 and gave the company an “overweight” rating in a report on Monday, December 23rd. JPMorgan Chase & Co. upped their price objective on shares of Neurocrine Biosciences from $183.00 to $184.00 and gave the stock an “overweight” rating in a report on Wednesday, March 26th. Canaccord Genuity Group lowered their price objective on shares of Neurocrine Biosciences from $172.00 to $163.00 and set a “buy” rating for the company in a research report on Friday, February 7th. Royal Bank of Canada cut their target price on Neurocrine Biosciences from $154.00 to $148.00 and set a “sector perform” rating on the stock in a research report on Friday, February 7th. Finally, UBS Group raised their price target on Neurocrine Biosciences from $162.00 to $176.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Five analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Neurocrine Biosciences currently has a consensus rating of “Moderate Buy” and a consensus target price of $165.38.

Neurocrine Biosciences Trading Up 1.2 %

Shares of NBIX opened at $108.31 on Thursday. The firm has a market capitalization of $10.80 billion, a price-to-earnings ratio of 32.92, a PEG ratio of 0.77 and a beta of 0.35. The firm’s fifty day simple moving average is $121.97 and its 200-day simple moving average is $124.66. Neurocrine Biosciences, Inc. has a twelve month low of $105.18 and a twelve month high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings results on Thursday, February 6th. The company reported $1.00 earnings per share 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%. On average, analysts predict that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

Neurocrine Biosciences announced that its Board of Directors has initiated a share repurchase plan on Friday, February 21st that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to repurchase up to 4.2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Activity

In other news, insider Julie Cooke sold 1,740 shares of the company’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $152.89, for a total value of $266,028.60. Following the completion of the transaction, the insider now owns 18,202 shares in the company, valued at approximately $2,782,903.78. This represents a 8.73 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Kevin Charles Gorman sold 5,844 shares of Neurocrine Biosciences stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $116.69, for a total transaction of $681,936.36. Following the sale, the director now owns 521,618 shares in the company, valued at $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. In the last 90 days, insiders have sold 232,906 shares of company stock worth $33,869,030. 4.30% of the stock is currently owned by insiders.

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.