Korea Investment CORP Buys 25,900 Shares of Neurocrine Biosciences, Inc. $NBIX

Korea Investment CORP increased its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 42.4% during the 1st quarter, Holdings Channel.com reports. The firm owned 86,989 shares of the company’s stock after acquiring an additional 25,900 shares during the quarter. Korea Investment CORP’s holdings in Neurocrine Biosciences were worth $9,621,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the stock. Smallwood Wealth Investment Management LLC acquired a new stake in shares of Neurocrine Biosciences in the 1st quarter valued at $34,000. GeoWealth Management LLC lifted its stake in shares of Neurocrine Biosciences by 65.4% during the fourth quarter. GeoWealth Management LLC now owns 258 shares of the company’s stock valued at $35,000 after acquiring an additional 102 shares during the period. Golden State Wealth Management LLC boosted its holdings in Neurocrine Biosciences by 116.9% in the first quarter. Golden State Wealth Management LLC now owns 397 shares of the company’s stock valued at $44,000 after acquiring an additional 214 shares during the last quarter. Versant Capital Management Inc increased its position in Neurocrine Biosciences by 404.9% in the first quarter. Versant Capital Management Inc now owns 409 shares of the company’s stock worth $45,000 after purchasing an additional 328 shares during the period. Finally, Harbor Capital Advisors Inc. acquired a new stake in Neurocrine Biosciences in the first quarter worth about $48,000. Institutional investors own 92.59% of the company’s stock.

Neurocrine Biosciences Stock Up 1.5%

Shares of NBIX stock opened at $135.28 on Friday. Neurocrine Biosciences, Inc. has a 12-month low of $84.23 and a 12-month high of $154.87. The firm has a fifty day moving average of $129.91 and a 200-day moving average of $119.34. The firm has a market capitalization of $13.42 billion, a price-to-earnings ratio of 40.02, a price-to-earnings-growth ratio of 0.96 and a beta of 0.25.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its earnings results on Wednesday, July 30th. The company reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.08. Neurocrine Biosciences had a return on equity of 13.22% and a net margin of 13.88%.The business had revenue of $687.50 million during the quarter, compared to analysts’ expectations of $653.09 million. During the same period in the prior year, the business earned $1.63 EPS. Neurocrine Biosciences’s revenue for the quarter was up 16.5% compared to the same quarter last year. Research analysts expect that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Piper Sandler lifted their price target on shares of Neurocrine Biosciences from $154.00 to $175.00 and gave the stock an “overweight” rating in a research report on Thursday, July 31st. Royal Bank Of Canada lowered their target price on shares of Neurocrine Biosciences from $146.00 to $144.00 and set an “outperform” rating for the company in a report on Thursday, July 31st. Truist Financial assumed coverage on shares of Neurocrine Biosciences in a research report on Monday, July 21st. They set a “buy” rating and a $163.00 target price for the company. The Goldman Sachs Group began coverage on Neurocrine Biosciences in a research report on Thursday, July 10th. They issued a “buy” rating and a $182.00 price target on the stock. Finally, Wall Street Zen raised Neurocrine Biosciences from a “hold” rating to a “strong-buy” rating in a research note on Saturday, August 2nd. Eighteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $159.50.

Insider Transactions at Neurocrine Biosciences

In other Neurocrine Biosciences news, insider Ingrid Delaet sold 457 shares of the business’s stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $135.00, for a total transaction of $61,695.00. Following the transaction, the insider owned 4,730 shares of the company’s stock, valued at $638,550. The trade was a 8.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jude Onyia sold 59,819 shares of the company’s stock in a transaction on Wednesday, July 9th. The stock was sold at an average price of $130.46, for a total transaction of $7,803,986.74. Following the sale, the insider directly owned 18,289 shares in the company, valued at $2,385,982.94. This trade represents a 76.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 196,573 shares of company stock valued at $25,112,766 over the last 90 days. 4.80% of the stock is owned by corporate insiders.

Neurocrine Biosciences 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.