TD Asset Management Inc Raises Stock Holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

TD Asset Management Inc grew its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 21.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 123,183 shares of the company’s stock after acquiring an additional 21,400 shares during the quarter. TD Asset Management Inc owned about 0.12% of Neurocrine Biosciences worth $13,624,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Y Intercept Hong Kong Ltd purchased a new stake in shares of Neurocrine Biosciences in the first quarter valued at $1,460,000. B. Metzler seel. Sohn & Co. AG lifted its position in shares of Neurocrine Biosciences by 5.1% in the fourth quarter. B. Metzler seel. Sohn & Co. AG now owns 5,044 shares of the company’s stock valued at $689,000 after acquiring an additional 245 shares in the last quarter. Golden State Wealth Management LLC lifted its position in shares of 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 in the last quarter. Fifth Third Bancorp lifted its position in shares of Neurocrine Biosciences by 31.7% in the first quarter. Fifth Third Bancorp now owns 1,056 shares of the company’s stock valued at $117,000 after acquiring an additional 254 shares in the last quarter. Finally, Cetera Investment Advisers lifted its position in Neurocrine Biosciences by 46.5% during the fourth quarter. Cetera Investment Advisers now owns 8,169 shares of the company’s stock worth $1,115,000 after buying an additional 2,593 shares during the period. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Neurocrine Biosciences Stock Performance

Shares of NASDAQ:NBIX opened at $136.76 on Thursday. The company has a market cap of $13.54 billion, a P/E ratio of 46.36, a PEG ratio of 1.38 and a beta of 0.24. Neurocrine Biosciences, Inc. has a one year low of $84.23 and a one year high of $157.98. The business’s 50-day simple moving average is $127.90 and its 200 day simple moving average is $121.21.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its earnings results on Wednesday, July 30th. The company reported $1.06 EPS for the quarter, beating the consensus estimate of $0.98 by $0.08. The business had revenue of $687.50 million for the quarter, compared to the consensus estimate of $653.09 million. Neurocrine Biosciences had a return on equity of 11.81% and a net margin of 12.68%. The company’s revenue was up 16.5% on a year-over-year basis. During the same period last year, the business posted $1.63 EPS. Analysts predict that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.

Insider Buying and Selling

In other Neurocrine Biosciences news, insider Jude Onyia sold 59,819 shares of Neurocrine Biosciences stock in a transaction that occurred 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. The trade was a 76.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William H. Rastetter sold 30,000 shares of Neurocrine Biosciences stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $110.20, for a total value of $3,306,000.00. Following the sale, the director owned 37,491 shares in the company, valued at $4,131,508.20. This represents a 44.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 120,251 shares of company stock valued at $14,978,602. Corporate insiders own 4.80% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. BMO Capital Markets increased their target price on Neurocrine Biosciences from $96.00 to $115.00 and gave the stock a “market perform” rating in a research report on Tuesday, May 6th. Needham & Company LLC increased their target price on Neurocrine Biosciences from $138.00 to $139.00 and gave the stock a “buy” rating in a research report on Tuesday, May 6th. Guggenheim increased their target price on Neurocrine Biosciences from $155.00 to $165.00 and gave the stock a “buy” rating in a research report on Tuesday, May 6th. Canaccord Genuity Group increased their target price on Neurocrine Biosciences from $158.00 to $160.00 and gave the stock a “buy” rating in a research report on Tuesday, May 6th. Finally, Truist Financial assumed coverage on Neurocrine Biosciences in a research report on Monday, July 21st. They set a “buy” rating and a $163.00 target price on the stock. Three research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $163.87.

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.