Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Shares Sold by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board decreased its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 64.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 66,449 shares of the company’s stock after selling 122,100 shares during the quarter. Canada Pension Plan Investment Board owned about 0.07% of Neurocrine Biosciences worth $9,148,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. RFP Financial Group LLC boosted its position in shares of Neurocrine Biosciences by 346.5% in the first quarter. RFP Financial Group LLC now owns 192 shares of the company’s stock worth $26,000 after buying an additional 149 shares during the period. Mather Group LLC. acquired a new position in Neurocrine Biosciences during the 1st quarter worth approximately $26,000. Ashton Thomas Private Wealth LLC purchased a new position in Neurocrine Biosciences in the 2nd quarter worth approximately $28,000. Innealta Capital LLC acquired a new stake in Neurocrine Biosciences in the second quarter valued at approximately $30,000. Finally, New Covenant Trust Company N.A. purchased a new stake in shares of Neurocrine Biosciences during the first quarter valued at approximately $32,000. 92.59% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Julie Cooke sold 10,000 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $140.19, for a total transaction of $1,401,900.00. Following the transaction, the insider now directly owns 18,202 shares of the company’s stock, valued at $2,551,738.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director William H. Rastetter sold 14,250 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $146.69, for a total value of $2,090,332.50. Following the sale, the director now owns 37,491 shares of the company’s stock, valued at approximately $5,499,554.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Julie Cooke sold 10,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $140.19, for a total value of $1,401,900.00. Following the transaction, the insider now directly owns 18,202 shares of the company’s stock, valued at approximately $2,551,738.38. The disclosure for this sale can be found here. In the last quarter, insiders sold 71,798 shares of company stock worth $10,676,096. 4.30% of the stock is owned by company insiders.

Neurocrine Biosciences Stock Down 1.1 %

NBIX stock opened at $116.49 on Wednesday. The stock has a market cap of $11.72 billion, a PE ratio of 32.09 and a beta of 0.37. The firm’s 50-day simple moving average is $137.27 and its 200 day simple moving average is $137.93. Neurocrine Biosciences, Inc. has a fifty-two week low of $103.63 and a fifty-two week high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.52). Neurocrine Biosciences had a net margin of 16.00% and a return on equity of 14.86%. The business had revenue of $590.20 million for the quarter, compared to the consensus estimate of $545.98 million. During the same period last year, the firm posted $0.95 EPS. The business’s quarterly revenue was up 30.4% on a year-over-year basis. Equities analysts forecast that Neurocrine Biosciences, Inc. will post 4.19 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on NBIX shares. HC Wainwright reaffirmed a “buy” rating and set a $190.00 price target on shares of Neurocrine Biosciences in a report on Thursday, August 29th. Piper Sandler upgraded Neurocrine Biosciences from a “neutral” rating to an “overweight” rating and raised their target price for the company from $131.00 to $159.00 in a research note on Thursday, August 29th. Wedbush reiterated an “outperform” rating and issued a $152.00 price target on shares of Neurocrine Biosciences in a research note on Wednesday, May 29th. StockNews.com upgraded Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a research note on Sunday, August 4th. Finally, Guggenheim upped their target price on Neurocrine Biosciences from $170.00 to $180.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Five equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Neurocrine Biosciences presently has an average rating of “Moderate Buy” and an average price target of $162.20.

About Neurocrine Biosciences

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.