Munich Reinsurance Co Stock Corp in Munich Makes New Investment in Neurocrine Biosciences, Inc. $NBIX

Munich Reinsurance Co Stock Corp in Munich purchased a new position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) during the third quarter, Holdings Channel reports. The fund purchased 14,653 shares of the company’s stock, valued at approximately $2,057,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in NBIX. Dodge & Cox lifted its holdings in shares of Neurocrine Biosciences by 0.6% during the 2nd quarter. Dodge & Cox now owns 5,566,814 shares of the company’s stock worth $699,693,000 after acquiring an additional 32,190 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Neurocrine Biosciences by 11.0% in the third quarter. JPMorgan Chase & Co. now owns 4,730,152 shares of the company’s stock valued at $664,019,000 after acquiring an additional 468,405 shares during the last quarter. AQR Capital Management LLC raised its position in Neurocrine Biosciences by 40.5% during the second quarter. AQR Capital Management LLC now owns 1,510,015 shares of the company’s stock valued at $189,794,000 after purchasing an additional 435,385 shares in the last quarter. Norges Bank bought a new stake in Neurocrine Biosciences during the second quarter worth about $122,278,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Neurocrine Biosciences by 1.8% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 789,715 shares of the company’s stock worth $99,259,000 after purchasing an additional 13,942 shares in the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. JPMorgan Chase & Co. decreased their price objective on Neurocrine Biosciences from $177.00 to $176.00 and set an “overweight” rating on the stock in a report on Tuesday, February 17th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Neurocrine Biosciences in a research note on Thursday, January 22nd. Mizuho increased their price target on shares of Neurocrine Biosciences from $146.00 to $175.00 and gave the company a “neutral” rating in a research report on Friday, December 12th. TD Cowen lifted their price target on shares of Neurocrine Biosciences from $175.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday, December 5th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $175.00 price objective (up from $173.00) on shares of Neurocrine Biosciences in a research note on Thursday, January 8th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $175.05.

Neurocrine Biosciences Price Performance

Shares of Neurocrine Biosciences stock opened at $128.13 on Friday. Neurocrine Biosciences, Inc. has a one year low of $84.23 and a one year high of $160.18. The business’s 50 day simple moving average is $134.31 and its two-hundred day simple moving average is $140.46. The stock has a market capitalization of $12.86 billion, a P/E ratio of 27.50, a price-to-earnings-growth ratio of 0.67 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 analysts’ consensus estimates of $2.36 by ($0.48). Neurocrine Biosciences had a net margin of 16.73% and a return on equity of 16.48%. The company had revenue of $805.50 million for the quarter, compared to analysts’ expectations of $804.21 million. During the same period last year, the company posted $1.69 EPS. The business’s revenue for the quarter was up 28.3% compared to the same quarter last year. Sell-side analysts expect that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

Insider Activity at Neurocrine Biosciences

In other Neurocrine Biosciences news, insider Darin Lippoldt sold 4,376 shares of the stock in a transaction on Monday, December 8th. The shares were sold at an average price of $159.65, for a total transaction of $698,628.40. Following the completion of the sale, the insider owned 43,405 shares of the company’s stock, valued at $6,929,608.25. This represents a 9.16% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Kyle Gano sold 36,400 shares of the firm’s stock in a transaction on 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 sale, the chief executive officer directly owned 140,407 shares in the company, valued at approximately $18,632,008.90. This trade represents a 20.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 46,966 shares of company stock worth $6,474,616 in the last three months. 4.80% of the stock is owned by insiders.

Neurocrine Biosciences Company 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.