Integral Health Asset Management LLC Invests $21.84 Million in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Integral Health Asset Management LLC acquired a new position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 160,000 shares of the company’s stock, valued at approximately $21,840,000. Neurocrine Biosciences comprises approximately 1.9% of Integral Health Asset Management LLC’s portfolio, making the stock its 14th largest position. Integral Health Asset Management LLC owned approximately 0.16% of Neurocrine Biosciences at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Golden State Wealth Management LLC bought a new position in shares of Neurocrine Biosciences during the fourth quarter valued at $25,000. Huntington National Bank lifted its holdings in shares of Neurocrine Biosciences by 73.5% during the fourth quarter. Huntington National Bank now owns 229 shares of the company’s stock valued at $31,000 after acquiring an additional 97 shares during the period. Brooklyn Investment Group lifted its holdings in shares of Neurocrine Biosciences by 99.1% during the fourth quarter. Brooklyn Investment Group now owns 231 shares of the company’s stock valued at $32,000 after acquiring an additional 115 shares during the period. GeoWealth Management LLC lifted its holdings in shares of Neurocrine Biosciences by 65.4% during the fourth quarter. GeoWealth Management LLC now owns 258 shares of the company’s stock valued at $35,000 after acquiring an additional 102 shares during the period. Finally, Lindbrook Capital LLC lifted its holdings in shares of Neurocrine Biosciences by 53.5% during the fourth quarter. Lindbrook Capital LLC now owns 373 shares of the company’s stock valued at $51,000 after acquiring an additional 130 shares during the period. Institutional investors and hedge funds own 92.59% of the company’s stock.

Wall Street Analysts Forecast Growth

NBIX has been the subject of a number of research analyst reports. Morgan Stanley reaffirmed an “overweight” rating and issued a $150.00 price target (down from $185.00) on shares of Neurocrine Biosciences in a report on Friday, March 7th. JPMorgan Chase & Co. lifted their price target on Neurocrine Biosciences from $183.00 to $184.00 and gave the company an “overweight” rating in a report on Wednesday, March 26th. Royal Bank of Canada lifted their price target on Neurocrine Biosciences from $137.00 to $145.00 and gave the company an “outperform” rating in a report on Tuesday, May 6th. HC Wainwright lowered their price objective on Neurocrine Biosciences from $185.00 to $168.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Finally, Needham & Company LLC lifted their price objective on Neurocrine Biosciences from $138.00 to $139.00 and gave the stock a “buy” rating in a research report on Tuesday, May 6th. Three investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat.com, Neurocrine Biosciences has a consensus rating of “Moderate Buy” and a consensus price target of $162.00.

Neurocrine Biosciences Trading Down 1.5%

NBIX opened at $115.71 on Monday. The stock has a 50-day moving average price of $106.23 and a 200-day moving average price of $121.89. Neurocrine Biosciences, Inc. has a 12-month low of $84.23 and a 12-month high of $157.98. The stock has a market capitalization of $11.45 billion, a P/E ratio of 35.17, a PEG ratio of 0.77 and a beta of 0.26.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its earnings results on Monday, May 5th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.62). The company had revenue of $572.60 million for the quarter, compared to analysts’ expectations of $587.06 million. Neurocrine Biosciences had a net margin of 14.49% and a return on equity of 13.38%. The company’s revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.20 earnings per share. On average, equities research analysts predict that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

Neurocrine Biosciences declared that its board has authorized a stock buyback plan on Friday, February 21st that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 4.2% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Insider Activity

In related news, CFO Matt Abernethy sold 2,558 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $116.86, for a total transaction of $298,927.88. Following the completion of the transaction, the chief financial officer now owns 34,775 shares of the company’s stock, valued at $4,063,806.50. This trade represents a 6.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William H. Rastetter sold 30,000 shares of Neurocrine Biosciences stock in a transaction on Monday, May 5th. The stock was sold at an average price of $110.20, for a total value of $3,306,000.00. Following the completion of the sale, the director now directly owns 37,491 shares of the company’s stock, valued at approximately $4,131,508.20. The trade was a 44.45% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 39,953 shares of company stock worth $4,467,990 in the last quarter. 4.80% of the stock is owned by company insiders.

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.