Neurocrine Biosciences, Inc. $NBIX Shares Newly Acquired by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. purchased a new position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 12,928 shares of the company’s stock, valued at approximately $1,834,000.

Several other large investors also recently added to or reduced their stakes in the stock. Bank of America Corp DE raised its position in Neurocrine Biosciences by 10.6% during the 1st quarter. Bank of America Corp DE now owns 583,827 shares of the company’s stock valued at $76,913,000 after purchasing an additional 55,723 shares in the last quarter. ABN AMRO Bank N.V. purchased a new stake in shares of Neurocrine Biosciences in the 2nd quarter worth $2,510,000. Focus Partners Advisor Solutions LLC bought a new position in shares of Neurocrine Biosciences during the 2nd quarter worth $1,927,000. Engineers Gate Manager LP grew its position in shares of Neurocrine Biosciences by 64.0% during the 2nd quarter. Engineers Gate Manager LP now owns 18,361 shares of the company’s stock worth $3,094,000 after buying an additional 7,163 shares in the last quarter. Finally, SEB Asset Management AB bought a new position in shares of Neurocrine Biosciences during the 1st quarter worth $10,483,000. 92.59% of the stock is owned by institutional investors.

Insider Transactions at Neurocrine Biosciences

In related news, insider David Boyer sold 826 shares of the business’s stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $157.45, for a total transaction of $130,053.70. Following the completion of the transaction, the insider owned 8,722 shares in the company, valued at $1,373,278.90. The trade was a 8.65% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Matt Abernethy sold 2,311 shares of the business’s stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $157.20, for a total transaction of $363,289.20. Following the transaction, the chief financial officer owned 42,808 shares of the company’s stock, valued at approximately $6,729,417.60. This trade represents a 5.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 18,137 shares of company stock valued at $2,829,332 in the last 90 days. Insiders own 4.60% of the company’s stock.

Neurocrine Biosciences Trading Up 3.0%

Shares of NASDAQ:NBIX opened at $164.63 on Friday. The company has a market capitalization of $16.66 billion, a PE ratio of 24.43, a P/E/G ratio of 0.73 and a beta of 0.36. Neurocrine Biosciences, Inc. has a 12-month low of $122.14 and a 12-month high of $186.12. The business’s fifty day simple moving average is $147.22 and its 200-day simple moving average is $148.05.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings data on Monday, November 2nd. The company reported $3.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.91 by $1.38. Neurocrine Biosciences had a return on equity of 23.39% and a net margin of 18.98%. The company had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter last year, the company earned $2.04 earnings per share. The firm’s revenue for the quarter was up 41.3% compared to the same quarter last year. Research analysts predict that Neurocrine Biosciences, Inc. will post 8.41 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Wedbush lifted their price objective on Neurocrine Biosciences from $185.00 to $194.00 and gave the company an “outperform” rating in a report on Monday, August 3rd. Truist Financial increased their target price on shares of Neurocrine Biosciences from $200.00 to $213.00 and gave the stock a “buy” rating in a report on Monday, August 3rd. Needham & Company LLC reiterated a “buy” rating and set a $204.00 target price on shares of Neurocrine Biosciences in a report on Friday, October 16th. Stifel Nicolaus raised their target price on shares of Neurocrine Biosciences from $188.00 to $215.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Finally, Royal Bank Of Canada boosted their price target on shares of Neurocrine Biosciences from $187.00 to $190.00 and gave the company an “outperform” rating in a report on Tuesday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $202.32.

Neurocrine Biosciences Company Profile

Neurocrine Biosciences is a biopharmaceutical company focused on developing and commercializing treatments for neurological, endocrine and related disorders. Founded in 1992 and headquartered in San Diego, California, the company conducts research and development alongside its commercial operations.

Its marketed medicines include INGREZZA (valbenazine), approved in the United States for tardive dyskinesia and chorea associated with Huntington disease, and CRENESSITY (crinecerfont), used with glucocorticoid replacement therapy to treat classic congenital adrenal hyperplasia in adults and children.

Neurocrine primarily serves the U.S.