Summit Global Investments Acquires 10,696 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Summit Global Investments grew its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 35.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 40,733 shares of the company’s stock after purchasing an additional 10,696 shares during the period. Summit Global Investments’ holdings in Neurocrine Biosciences were worth $5,367,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. DSM Capital Partners LLC raised its stake in shares of Neurocrine Biosciences by 15.4% during the third quarter. DSM Capital Partners LLC now owns 1,224,017 shares of the company’s stock valued at $137,702,000 after acquiring an additional 163,747 shares in the last quarter. Braidwell LP raised its position in shares of Neurocrine Biosciences by 3.7% in the 3rd quarter. Braidwell LP now owns 968,024 shares of the company’s stock worth $108,903,000 after acquiring an additional 34,662 shares in the last quarter. Los Angeles Capital Management LLC lifted its stake in shares of Neurocrine Biosciences by 66.0% during the 4th quarter. Los Angeles Capital Management LLC now owns 918,391 shares of the company’s stock worth $121,007,000 after purchasing an additional 364,986 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its position in Neurocrine Biosciences by 59.0% during the third quarter. Jacobs Levy Equity Management Inc. now owns 692,374 shares of the company’s stock valued at $77,892,000 after purchasing an additional 256,920 shares in the last quarter. Finally, Westfield Capital Management Co. LP grew its stake in Neurocrine Biosciences by 73.0% in the third quarter. Westfield Capital Management Co. LP now owns 649,292 shares of the company’s stock valued at $73,045,000 after purchasing an additional 273,952 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Neurocrine Biosciences

In other Neurocrine Biosciences news, insider Eric Benevich sold 75,000 shares of Neurocrine Biosciences stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $139.38, for a total value of $10,453,500.00. Following the transaction, the insider now directly owns 40,778 shares in the company, valued at approximately $5,683,637.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Eric Benevich sold 75,000 shares of Neurocrine Biosciences stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $139.38, for a total value of $10,453,500.00. Following the transaction, the insider now directly owns 40,778 shares in the company, valued at approximately $5,683,637.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Richard F. Pops sold 15,000 shares of Neurocrine Biosciences stock in a transaction dated Tuesday, February 20th. The shares were 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 approximately $3,909,454.64. The disclosure for this sale can be found here. Insiders sold a total of 181,547 shares of company stock valued at $25,039,887 in the last ninety days. Insiders own 4.30% of the company’s stock.

Neurocrine Biosciences Stock Performance

Shares of NBIX traded down $2.47 during trading hours on Thursday, hitting $140.56. 607,736 shares of the stock were exchanged, compared to its average volume of 852,535. The stock’s 50-day moving average price is $137.11 and its two-hundred day moving average price is $128.51. Neurocrine Biosciences, Inc. has a 12-month low of $89.04 and a 12-month high of $148.37. The company has a market cap of $13.99 billion, a price-to-earnings ratio of 58.21 and a beta of 0.28.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings data on Wednesday, February 7th. The company reported $1.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.31. Neurocrine Biosciences had a net margin of 13.23% and a return on equity of 12.85%. The firm had revenue of $515.20 million during the quarter, compared to analysts’ expectations of $518.52 million. During the same quarter last year, the company posted $0.88 EPS. The firm’s quarterly revenue was up 25.0% on a year-over-year basis. On average, research analysts expect that Neurocrine Biosciences, Inc. will post 4.8 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on NBIX. Wells Fargo & Company upgraded shares of Neurocrine Biosciences from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $140.00 to $170.00 in a report on Wednesday, April 24th. Barclays increased their target price on shares of Neurocrine Biosciences from $150.00 to $169.00 and gave the company an “overweight” rating in a research report on Thursday. Oppenheimer lifted their price target on shares of Neurocrine Biosciences from $200.00 to $216.00 and gave the stock an “outperform” rating in a report on Thursday. Mizuho increased their price objective on Neurocrine Biosciences from $116.00 to $140.00 and gave the company a “neutral” rating in a report on Thursday, February 8th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $155.00 price objective on shares of Neurocrine Biosciences in a research report on Wednesday, April 10th. Six analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Neurocrine Biosciences presently has an average rating of “Moderate Buy” and an average price target of $147.46.

About Neurocrine Biosciences

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.