Canada Pension Plan Investment Board Invests $13.77 Million in Neurocrine Biosciences, Inc. $NBIX

Canada Pension Plan Investment Board purchased a new stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 81,700 shares of the company’s stock, valued at approximately $13,769,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. DJE Kapital AG bought a new stake in shares of Neurocrine Biosciences during the 4th quarter valued at $28,000. Geneos Wealth Management Inc. increased its stake in shares of Neurocrine Biosciences by 143.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock worth $25,000 after acquiring an additional 135 shares in the last quarter. Meeder Asset Management Inc. lifted its position in Neurocrine Biosciences by 651.6% during the 4th quarter. Meeder Asset Management Inc. now owns 233 shares of the company’s stock valued at $33,000 after acquiring an additional 202 shares during the period. Basecamp Wealth Advisors LLC lifted its position in Neurocrine Biosciences by 582.9% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 239 shares of the company’s stock valued at $31,000 after acquiring an additional 204 shares during the period. Finally, Cassaday & Co Wealth Management LLC bought a new stake in Neurocrine Biosciences during the first quarter worth about $33,000. 92.59% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Leslie V. Norwalk sold 1,250 shares of the business’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $182.01, for a total value of $227,512.50. Following the completion of the transaction, the director directly owned 1,588 shares in the company, valued at $289,031.88. The trade was a 44.05% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Darin Lippoldt sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $179.60, for a total transaction of $1,796,000.00. Following the completion of the transaction, the insider owned 54,729 shares of the company’s stock, valued at approximately $9,829,328.40. The trade was a 15.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 114,375 shares of company stock worth $18,994,756. Corporate insiders own 4.60% of the company’s stock.

Neurocrine Biosciences Price Performance

Shares of Neurocrine Biosciences stock opened at $154.06 on Friday. Neurocrine Biosciences, Inc. has a 1 year low of $122.14 and a 1 year high of $186.12. The firm’s 50-day moving average is $166.77 and its 200 day moving average is $149.43. The stock has a market cap of $15.66 billion, a price-to-earnings ratio of 22.59, a PEG ratio of 0.72 and a beta of 0.39.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings data on Friday, July 31st. The company reported $2.85 earnings per share for the quarter, beating analysts’ consensus estimates of $1.65 by $1.20. The business had revenue of $959.00 million during the quarter, compared to analyst estimates of $891.16 million. Neurocrine Biosciences had a net margin of 20.91% and a return on equity of 22.43%. Neurocrine Biosciences’s revenue was up 39.5% compared to the same quarter last year. During the same period last year, the business earned $1.65 EPS. On average, equities analysts expect that Neurocrine Biosciences, Inc. will post 7.25 EPS for the current fiscal year.

Analysts Set New Price Targets

NBIX has been the topic of a number of recent research reports. Royal Bank Of Canada upped their price objective on shares of Neurocrine Biosciences from $195.00 to $198.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. TD Cowen lifted their target price on shares of Neurocrine Biosciences from $200.00 to $220.00 and gave the company a “buy” rating in a report on Friday, July 31st. Stifel Nicolaus boosted their price target on Neurocrine Biosciences from $188.00 to $215.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Wells Fargo & Company upped their price target on Neurocrine Biosciences from $175.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday, July 17th. Finally, Cantor Fitzgerald raised their price objective on Neurocrine Biosciences from $210.00 to $215.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $200.86.

About Neurocrine Biosciences

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.