Canada Pension Plan Investment Board Grows Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Canada Pension Plan Investment Board raised its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 186.1% during the 1st quarter, HoldingsChannel.com reports. The fund owned 188,549 shares of the company’s stock after acquiring an additional 122,649 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Neurocrine Biosciences were worth $26,005,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of Neurocrine Biosciences by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 9,930,926 shares of the company’s stock valued at $1,369,673,000 after buying an additional 220,598 shares in the last quarter. Brown Advisory Inc. raised its holdings in shares of Neurocrine Biosciences by 2.2% during the 4th quarter. Brown Advisory Inc. now owns 1,113,413 shares of the company’s stock valued at $146,703,000 after buying an additional 23,831 shares in the last quarter. Los Angeles Capital Management LLC raised its holdings in shares of Neurocrine Biosciences by 66.0% during the 4th quarter. Los Angeles Capital Management LLC now owns 918,391 shares of the company’s stock valued at $121,007,000 after buying an additional 364,986 shares in the last quarter. Vestal Point Capital LP purchased a new position in shares of Neurocrine Biosciences during the 4th quarter valued at about $105,408,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Neurocrine Biosciences by 10.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 686,835 shares of the company’s stock valued at $90,497,000 after buying an additional 63,568 shares in the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on NBIX shares. Needham & Company LLC restated a “hold” rating on shares of Neurocrine Biosciences in a research report on Thursday. UBS Group raised their price target on Neurocrine Biosciences from $174.00 to $193.00 and gave the stock a “buy” rating in a research report on Tuesday, May 28th. Evercore ISI initiated coverage on Neurocrine Biosciences in a research report on Tuesday, May 14th. They set an “outperform” rating and a $175.00 price target on the stock. Barclays lifted their price objective on Neurocrine Biosciences from $150.00 to $169.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Finally, Oppenheimer lifted their price objective on Neurocrine Biosciences from $200.00 to $216.00 and gave the stock an “outperform” rating in a research report on Thursday, May 2nd. Six equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $154.08.

Neurocrine Biosciences Stock Performance

Shares of NBIX stock traded up $0.70 during mid-day trading on Friday, hitting $146.80. The company’s stock had a trading volume of 744,764 shares, compared to its average volume of 631,030. Neurocrine Biosciences, Inc. has a 52-week low of $99.36 and a 52-week high of $150.39. The business has a 50-day moving average price of $139.16 and a 200 day moving average price of $137.90. The stock has a market cap of $14.77 billion, a price-to-earnings ratio of 40.44 and a beta of 0.37.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.62). Neurocrine Biosciences had a return on equity of 17.45% and a net margin of 18.65%. The business had revenue of $515.30 million during the quarter, compared to analysts’ expectations of $512.21 million. Equities research analysts predict that Neurocrine Biosciences, Inc. will post 4.22 EPS for the current fiscal year.

Insider Activity at Neurocrine Biosciences

In related news, Director Stephen A. Sherwin sold 40,000 shares of the company’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $133.46, for a total transaction of $5,338,400.00. Following the completion of the sale, the director now owns 26,504 shares in the company, valued at $3,537,223.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Neurocrine Biosciences news, insider Julie Cooke sold 900 shares of the business’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $150.04, for a total transaction of $135,036.00. Following the completion of the sale, the insider now owns 18,202 shares of the company’s stock, valued at $2,731,028.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Stephen A. Sherwin sold 40,000 shares of the company’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $133.46, for a total value of $5,338,400.00. Following the completion of the transaction, the director now directly owns 26,504 shares of the company’s stock, valued at approximately $3,537,223.84. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 80,709 shares of company stock worth $11,009,150. 4.30% of the stock is owned by 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.