Assenagon Asset Management S.A. Has $11.35 Million Stock Position in Neurocrine Biosciences, Inc. $NBIX

Assenagon Asset Management S.A. raised its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 70.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 80,012 shares of the company’s stock after buying an additional 33,065 shares during the quarter. Assenagon Asset Management S.A. owned about 0.08% of Neurocrine Biosciences worth $11,348,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Diversified Trust Co. bought a new stake in shares of Neurocrine Biosciences in the fourth quarter valued at about $457,000. Fulton Bank N.A. increased its stake in Neurocrine Biosciences by 12.3% during the fourth quarter. Fulton Bank N.A. now owns 4,092 shares of the company’s stock valued at $580,000 after acquiring an additional 448 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in Neurocrine Biosciences by 33.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 54,393 shares of the company’s stock valued at $7,489,000 after acquiring an additional 13,534 shares during the period. NorthCrest Asset Manangement LLC raised its holdings in Neurocrine Biosciences by 23.3% in the 4th quarter. NorthCrest Asset Manangement LLC now owns 12,995 shares of the company’s stock valued at $1,767,000 after acquiring an additional 2,453 shares in the last quarter. Finally, Wedmont Private Capital acquired a new position in shares of Neurocrine Biosciences in the fourth quarter valued at $228,000. 92.59% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on NBIX shares. JPMorgan Chase & Co. boosted their price target on shares of Neurocrine Biosciences from $176.00 to $177.00 and gave the company an “overweight” rating in a report on Thursday, March 12th. Mizuho upped their price objective on Neurocrine Biosciences from $146.00 to $175.00 and gave the company a “neutral” rating in a research note on Friday, December 12th. Stifel Nicolaus increased their target price on Neurocrine Biosciences from $183.00 to $188.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. Truist Financial cut their target price on Neurocrine Biosciences from $169.00 to $140.00 and set a “buy” rating for the company in a research report on Tuesday, February 17th. Finally, HC Wainwright decreased their price target on Neurocrine Biosciences from $198.00 to $192.00 and set a “buy” rating on the stock in a research note on Thursday, February 12th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $175.10.

Neurocrine Biosciences Stock Down 3.1%

Shares of NBIX stock opened at $128.32 on Friday. Neurocrine Biosciences, Inc. has a 12-month low of $84.23 and a 12-month high of $160.18. The firm has a fifty day moving average of $131.96 and a 200-day moving average of $139.52. The firm has a market capitalization of $12.88 billion, a price-to-earnings ratio of 27.54, a price-to-earnings-growth ratio of 0.69 and a beta of 0.32.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings data on Wednesday, February 11th. The company reported $1.88 earnings per share for the quarter, missing the consensus estimate of $2.36 by ($0.48). Neurocrine Biosciences had a net margin of 16.73% and a return on equity of 16.48%. The business had revenue of $805.50 million for the quarter, compared to the consensus estimate of $804.21 million. During the same quarter last year, the firm earned $1.69 EPS. The company’s revenue for the quarter was up 28.3% on a year-over-year basis. Research analysts expect that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.

Insider Transactions at Neurocrine Biosciences

In other Neurocrine Biosciences news, CEO Kyle Gano sold 36,400 shares of the stock in a transaction dated Friday, January 16th. The stock was sold at an average price of $132.70, for a total transaction of $4,830,280.00. Following the completion of the transaction, the chief executive officer owned 140,407 shares in the company, valued at approximately $18,632,008.90. This represents a 20.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 4.80% of the company’s stock.

Neurocrine Biosciences Profile

Neurocrine Biosciences (NASDAQ: NBIX) is a biopharmaceutical company based in San Diego, California, focused on developing treatments for neurological, endocrine and neuropsychiatric disorders. Since its founding in 1992, the company has pursued a research‐driven strategy aimed at addressing unmet medical needs in movement disorders, reproductive health and central nervous system conditions. Neurocrine’s operations encompass drug discovery, clinical development and commercialization activities.

The company’s lead marketed product, Ingrezza™ (valbenazine), is indicated for the treatment of tardive dyskinesia, a movement disorder associated with long-term antipsychotic use.