Korea Investment CORP Has $10.06 Million Holdings in Neurocrine Biosciences, Inc. $NBIX

Korea Investment CORP grew its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 94.3% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 71,689 shares of the company’s stock after buying an additional 34,800 shares during the quarter. Korea Investment CORP’s holdings in Neurocrine Biosciences were worth $10,064,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Royal Bank of Canada increased its holdings in Neurocrine Biosciences by 36.7% during the 1st quarter. Royal Bank of Canada now owns 82,810 shares of the company’s stock valued at $9,158,000 after purchasing an additional 22,224 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Neurocrine Biosciences by 60.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,783 shares of the company’s stock worth $1,647,000 after purchasing an additional 5,577 shares in the last quarter. NewEdge Advisors LLC grew its holdings in shares of Neurocrine Biosciences by 56.3% during the first quarter. NewEdge Advisors LLC now owns 7,630 shares of the company’s stock worth $844,000 after purchasing an additional 2,747 shares during the last quarter. Empowered Funds LLC bought a new stake in shares of Neurocrine Biosciences during the first quarter worth $1,333,000. Finally, Geneos Wealth Management Inc. increased its stake in shares of Neurocrine Biosciences by 143.6% in the first quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock valued at $25,000 after buying an additional 135 shares in the last quarter. Institutional investors own 92.59% of the company’s stock.

Neurocrine Biosciences Stock Down 0.2%

Shares of NBIX stock opened at $129.54 on Thursday. The stock has a 50-day moving average price of $133.57 and a 200 day moving average price of $140.36. The firm has a market cap of $13.00 billion, a price-to-earnings ratio of 27.80, a PEG ratio of 0.68 and a beta of 0.32. Neurocrine Biosciences, Inc. has a 12 month low of $84.23 and a 12 month high of $160.18.

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

Insider Buying and Selling

In other Neurocrine Biosciences news, CEO Kyle Gano sold 36,400 shares of Neurocrine Biosciences stock in a transaction on Friday, January 16th. The shares were 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 owned 140,407 shares of the company’s stock, valued at approximately $18,632,008.90. The trade was a 20.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Leslie V. Norwalk sold 1,190 shares of the company’s stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $155.09, for a total transaction of $184,557.10. Following the sale, the director owned 6,239 shares of the company’s stock, valued at $967,606.51. The trade was a 16.02% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 42,590 shares of company stock valued at $5,775,987. 4.80% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on NBIX. Mizuho lifted their price target on Neurocrine Biosciences from $146.00 to $175.00 and gave the company a “neutral” rating in a report on Friday, December 12th. JPMorgan Chase & Co. lowered their price objective on shares of Neurocrine Biosciences from $177.00 to $176.00 and set an “overweight” rating for the company in a research report on Tuesday, February 17th. Truist Financial dropped their target price on shares of Neurocrine Biosciences from $169.00 to $140.00 and set a “buy” rating for the company in a research note on Tuesday, February 17th. Wall Street Zen lowered shares of Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 16th. Finally, Royal Bank Of Canada decreased their price target on shares of Neurocrine Biosciences from $180.00 to $177.00 and set an “outperform” rating on the stock in a research note on Thursday, February 12th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $175.05.

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.