5,215 Shares in Neurocrine Biosciences, Inc. $NBIX Purchased by iA Global Asset Management Inc.

iA Global Asset Management Inc. purchased a new stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 5,215 shares of the company’s stock, valued at approximately $732,000.

Several other institutional investors have also added to or reduced their stakes in the company. Aubrey Capital Management Ltd purchased a new stake in shares of Neurocrine Biosciences during the 3rd quarter worth approximately $522,000. Rakuten Investment Management Inc. bought a new stake in Neurocrine Biosciences in the third quarter worth $18,072,000. Chicago Partners Investment Group LLC bought a new stake in Neurocrine Biosciences in the third quarter worth $526,000. Allegiance Financial Group Advisory Services LLC purchased a new stake in Neurocrine Biosciences during the third quarter valued at $250,000. Finally, Seizert Capital Partners LLC bought a new position in Neurocrine Biosciences during the third quarter valued at $9,832,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on NBIX. Citigroup boosted their target price on shares of Neurocrine Biosciences from $175.00 to $203.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. UBS Group reduced their price objective on Neurocrine Biosciences from $188.00 to $178.00 and set a “buy” rating on the stock in a research note on Friday. Mizuho raised their price objective on Neurocrine Biosciences from $146.00 to $175.00 and gave the company a “neutral” rating in a research note on Friday, December 12th. Truist Financial dropped their target price on Neurocrine Biosciences from $172.00 to $169.00 and set a “buy” rating for the company in a report on Thursday, January 8th. Finally, TD Cowen boosted their target price on Neurocrine Biosciences from $175.00 to $200.00 and gave the company a “buy” rating in a research report on Friday, December 5th. Seventeen analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, Neurocrine Biosciences currently has an average rating of “Moderate Buy” and an average price target of $174.25.

Insiders Place Their Bets

In related news, Director Leslie V. Norwalk sold 1,190 shares of the firm’s stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $155.09, for a total value of $184,557.10. Following the transaction, the director owned 6,239 shares of the company’s stock, valued at $967,606.51. This trade represents a 16.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director William H. Rastetter sold 18,000 shares of Neurocrine Biosciences stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $151.82, for a total transaction of $2,732,760.00. Following the sale, the director owned 40,360 shares of the company’s stock, valued at $6,127,455.20. The trade was a 30.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 80,266 shares of company stock valued at $11,400,517. Insiders own 4.80% of the company’s stock.

Neurocrine Biosciences Price Performance

Shares of NASDAQ:NBIX opened at $136.18 on Friday. The firm has a market capitalization of $13.58 billion, a PE ratio of 32.58, a price-to-earnings-growth ratio of 0.71 and a beta of 0.28. The business has a 50 day simple moving average of $143.61 and a two-hundred day simple moving average of $140.20. Neurocrine Biosciences, Inc. has a 1 year low of $84.23 and a 1 year high of $160.18.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings results on Tuesday, October 28th. The company reported $2.17 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.59. Neurocrine Biosciences had a return on equity of 15.82% and a net margin of 15.95%.The firm had revenue of $794.90 million for the quarter, compared to the consensus estimate of $746.61 million. During the same period in the prior year, the business posted $1.81 earnings per share. The company’s revenue for the quarter was up 27.8% on a year-over-year basis. Equities research analysts expect that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

About Neurocrine Biosciences

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.