Cibc World Market Inc. Takes $549,000 Position in Neurocrine Biosciences, Inc. $NBIX

Cibc World Market Inc. purchased a new stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 3,258 shares of the company’s stock, valued at approximately $549,000.

A number of other institutional investors have also recently bought and sold shares of the stock. DJE Kapital AG acquired a new stake in Neurocrine Biosciences during the 4th quarter worth about $28,000. Geneos Wealth Management Inc. boosted its holdings in shares of Neurocrine Biosciences by 143.6% in the first quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock worth $25,000 after buying an additional 135 shares during the period. Meeder Asset Management Inc. boosted its holdings in shares of Neurocrine Biosciences by 651.6% in the fourth quarter. Meeder Asset Management Inc. now owns 233 shares of the company’s stock worth $33,000 after buying an additional 202 shares during the period. Basecamp Wealth Advisors LLC increased its position in shares of Neurocrine Biosciences by 582.9% in the first quarter. Basecamp Wealth Advisors LLC now owns 239 shares of the company’s stock worth $31,000 after acquiring an additional 204 shares in the last quarter. Finally, Cassaday & Co Wealth Management LLC purchased a new position in shares of Neurocrine Biosciences in the first quarter worth approximately $33,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Wall Street Analysts Forecast Growth

NBIX has been the topic of a number of recent analyst reports. Wedbush boosted their price target on shares of Neurocrine Biosciences from $185.00 to $194.00 and gave the company an “outperform” rating in a report on Monday, August 3rd. Sanford C. Bernstein initiated coverage on shares of Neurocrine Biosciences in a research note on Friday, May 22nd. They issued an “outperform” rating and a $221.00 price objective for the company. Royal Bank Of Canada lifted their price objective on shares of Neurocrine Biosciences from $195.00 to $198.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. Canaccord Genuity Group boosted their target price on shares of Neurocrine Biosciences from $200.00 to $210.00 and gave the company a “buy” rating in a research note on Monday, August 3rd. Finally, Morgan Stanley reduced their target price on Neurocrine Biosciences from $196.00 to $182.00 and set an “equal weight” rating for the company in a report on Thursday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $200.86.

Insider Transactions at Neurocrine Biosciences

In other Neurocrine Biosciences news, insider Darin Lippoldt sold 10,000 shares of the stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $179.60, for a total value of $1,796,000.00. Following the completion of the sale, the insider owned 54,729 shares in the company, valued at $9,829,328.40. This represents a 15.45% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Ingrid Delaet sold 8,433 shares of Neurocrine Biosciences stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $178.72, for a total transaction of $1,507,145.76. Following the sale, the insider directly owned 16,225 shares of the company’s stock, valued at $2,899,732. This trade represents a 34.20% 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. In the last quarter, insiders have sold 114,375 shares of company stock worth $18,994,756. 4.60% of the stock is owned by company insiders.

Neurocrine Biosciences Price Performance

Shares of NBIX opened at $154.06 on Friday. The company has a market capitalization of $15.66 billion, a price-to-earnings ratio of 22.59, a P/E/G ratio of 0.73 and a beta of 0.39. Neurocrine Biosciences, Inc. has a fifty-two week low of $122.14 and a fifty-two week high of $186.12. The business’s 50-day moving average is $166.77 and its 200-day moving average is $149.43.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings results on Friday, July 31st. The company reported $2.85 EPS for the quarter, topping the consensus estimate of $1.65 by $1.20. The business had revenue of $959.00 million during the quarter, compared to analysts’ expectations of $891.16 million. Neurocrine Biosciences had a net margin of 20.91% and a return on equity of 22.43%. The firm’s quarterly revenue was up 39.5% compared to the same quarter last year. During the same period last year, the company posted $1.65 earnings per share. Equities research analysts expect that Neurocrine Biosciences, Inc. will post 7.25 earnings per share for the current fiscal year.

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.