Plato Investment Management Ltd Makes New $671,000 Investment in Neurocrine Biosciences, Inc. $NBIX

Plato Investment Management Ltd purchased a new stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 4,006 shares of the company’s stock, valued at approximately $671,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Royal Bank of Canada raised its holdings in shares of Neurocrine Biosciences by 36.7% during the first quarter. Royal Bank of Canada now owns 82,810 shares of the company’s stock worth $9,158,000 after acquiring an additional 22,224 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Neurocrine Biosciences by 60.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,783 shares of the company’s stock worth $1,647,000 after purchasing an additional 5,577 shares during the period. NewEdge Advisors LLC boosted its stake in Neurocrine Biosciences by 56.3% in the 1st quarter. NewEdge Advisors LLC now owns 7,630 shares of the company’s stock worth $844,000 after purchasing an additional 2,747 shares during the period. Empowered Funds LLC bought a new position in Neurocrine Biosciences during the 1st quarter worth about $1,333,000. Finally, Geneos Wealth Management Inc. raised its stake in shares of Neurocrine Biosciences by 143.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock valued at $25,000 after purchasing an additional 135 shares during the period. Institutional investors and hedge funds own 92.59% of the company’s stock.

Neurocrine Biosciences Trading Down 0.2%

NASDAQ NBIX opened at $154.23 on Wednesday. The firm has a market capitalization of $15.68 billion, a P/E ratio of 22.61, a price-to-earnings-growth ratio of 0.67 and a beta of 0.39. The firm’s fifty day moving average price is $167.59 and its two-hundred day moving average price is $148.61. Neurocrine Biosciences, Inc. has a 1 year low of $122.14 and a 1 year high of $186.12.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings data on Friday, July 31st. The company reported $2.85 EPS for the quarter, beating analysts’ consensus estimates of $1.65 by $1.20. The company had revenue of $959.00 million during the quarter, compared to the consensus estimate of $891.16 million. Neurocrine Biosciences had a net margin of 20.91% and a return on equity of 22.43%. The company’s quarterly revenue was up 39.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.65 EPS. On average, research analysts anticipate that Neurocrine Biosciences, Inc. will post 7.25 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently commented on NBIX shares. Needham & Company LLC boosted their price target on Neurocrine Biosciences from $200.00 to $204.00 and gave the company a “buy” rating in a report on Friday, July 31st. Wells Fargo & Company lifted their target price on Neurocrine Biosciences from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday, July 17th. Piper Sandler boosted their target price on Neurocrine Biosciences from $207.00 to $210.00 and gave the company an “overweight” rating in a research note on Friday, July 31st. Citigroup upped their price target on Neurocrine Biosciences from $246.00 to $249.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Finally, Zacks Research cut shares of Neurocrine Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $200.86.

Insider Activity

In other Neurocrine Biosciences news, Director Stephen A. Sherwin sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $165.32, for a total transaction of $4,133,000.00. Following the transaction, the director owned 15,860 shares of the company’s stock, valued at $2,621,975.20. The trade was a 61.18% decrease in their ownership of the stock. The sale 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, Director Leslie V. Norwalk sold 1,250 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $182.01, for a total value of $227,512.50. Following the completion of the sale, the director owned 1,588 shares in the company, valued at $289,031.88. This represents a 44.05% 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. Over the last quarter, insiders have sold 131,524 shares of company stock valued at $21,668,924. Company insiders own 4.60% of the company’s stock.

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.