Healthcare of Ontario Pension Plan Trust Fund Purchases New Position in Neurocrine Biosciences, Inc. $NBIX

Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) in the first quarter, Holdings Channel.com reports. The institutional investor purchased 23,400 shares of the company’s stock, valued at approximately $3,083,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Geneos Wealth Management Inc. increased its stake in shares of Neurocrine Biosciences by 143.6% during 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 during the period. DJE Kapital AG bought a new position in shares of Neurocrine Biosciences during the fourth quarter valued at approximately $28,000. Cassaday & Co Wealth Management LLC purchased a new stake in Neurocrine Biosciences in the first quarter worth $33,000. Meeder Asset Management Inc. boosted its holdings in Neurocrine Biosciences by 651.6% in the fourth quarter. Meeder Asset Management Inc. now owns 233 shares of the company’s stock valued at $33,000 after acquiring an additional 202 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new stake in Neurocrine Biosciences in the fourth quarter valued at $39,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Insider Buying and Selling

In related news, Director Richard F. Pops sold 15,000 shares of Neurocrine Biosciences stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $157.65, for a total transaction of $2,364,750.00. Following the completion of the transaction, the director directly owned 34,480 shares of the company’s stock, valued at $5,435,772. This trade represents a 30.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Julie Cooke sold 36,937 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $156.22, for a total transaction of $5,770,298.14. Following the completion of the sale, the insider owned 22,374 shares in the company, valued at approximately $3,495,266.28. This trade represents a 62.28% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 395,422 shares of company stock worth $62,448,693 over the last 90 days. Corporate insiders own 4.60% of the company’s stock.

Neurocrine Biosciences Trading Up 2.6%

Shares of Neurocrine Biosciences stock opened at $185.50 on Friday. Neurocrine Biosciences, Inc. has a 12 month low of $122.14 and a 12 month high of $186.12. The firm has a market capitalization of $18.65 billion, a P/E ratio of 28.58, a P/E/G ratio of 0.76 and a beta of 0.39. The business has a fifty day simple moving average of $167.61 and a two-hundred day simple moving average of $146.25.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on NBIX. Wedbush boosted their price objective on shares of Neurocrine Biosciences from $166.00 to $176.00 and gave the company an “outperform” rating in a research report on Wednesday, May 6th. Weiss Ratings raised shares of Neurocrine Biosciences from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday. Zacks Research upgraded shares of Neurocrine Biosciences from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, June 23rd. Royal Bank Of Canada increased their price target on shares of Neurocrine Biosciences from $183.00 to $195.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 7th. Finally, Leerink Partners lifted their price objective on Neurocrine Biosciences from $160.00 to $170.00 and gave the company an “outperform” rating in a research report on Wednesday, April 22nd. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $194.05.

Neurocrine Biosciences 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.