Korea Investment CORP Purchases Shares of 172,989 Neurocrine Biosciences, Inc. $NBIX

Korea Investment CORP purchased a new position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 172,989 shares of the company’s stock, valued at approximately $29,155,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. NewEdge Advisors LLC grew its holdings in shares of Neurocrine Biosciences by 0.5% during the first quarter. NewEdge Advisors LLC now owns 13,066 shares of the company’s stock valued at $1,721,000 after buying an additional 68 shares during the last quarter. Huntington National Bank increased its position in shares of Neurocrine Biosciences by 12.6% in the 4th quarter. Huntington National Bank now owns 678 shares of the company’s stock valued at $96,000 after acquiring an additional 76 shares during the period. Motley Fool Asset Management LLC raised its stake in Neurocrine Biosciences by 4.8% in the 4th quarter. Motley Fool Asset Management LLC now owns 1,693 shares of the company’s stock worth $240,000 after acquiring an additional 78 shares during the last quarter. Main Management ETF Advisors LLC lifted its position in Neurocrine Biosciences by 1.0% during the 4th quarter. Main Management ETF Advisors LLC now owns 7,830 shares of the company’s stock worth $1,111,000 after acquiring an additional 80 shares during the period. Finally, Westpac Banking Corp lifted its position in Neurocrine Biosciences by 6.0% during the 1st quarter. Westpac Banking Corp now owns 1,615 shares of the company’s stock worth $213,000 after acquiring an additional 91 shares during the period. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NBIX has been the topic of a number of research reports. Sanford C. Bernstein initiated coverage on Neurocrine Biosciences in a report on Friday, May 22nd. They issued an “outperform” rating and a $221.00 price objective on the stock. Truist Financial lifted their target price on Neurocrine Biosciences from $200.00 to $213.00 and gave the stock a “buy” rating in a report on Monday, August 3rd. Zacks Research lowered shares of Neurocrine Biosciences from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 4th. The Goldman Sachs Group started coverage on Neurocrine Biosciences in a research note on Tuesday, June 2nd. They set a “buy” rating and a $213.00 price objective for the company. Finally, Morgan Stanley lowered their target price on Neurocrine Biosciences from $196.00 to $182.00 and set an “equal weight” rating on the stock in a research note 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 stock. According to data from MarketBeat.com, Neurocrine Biosciences has an average rating of “Moderate Buy” and a consensus price target of $200.86.

Insider Transactions at Neurocrine Biosciences

In related news, Director Stephen A. Sherwin sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $165.32, for a total transaction of $4,133,000.00. Following the sale, the director directly owned 15,860 shares of the company’s stock, valued at $2,621,975.20. This represents a 61.18% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Darin Lippoldt sold 10,000 shares of the stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $179.60, for a total transaction of $1,796,000.00. Following the sale, the insider owned 54,729 shares in the company, valued at approximately $9,829,328.40. This trade represents a 15.45% decrease in their ownership of the stock. 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 ninety days, insiders have sold 131,524 shares of company stock valued at $21,668,924. 4.60% of the stock is owned by corporate insiders.

Neurocrine Biosciences Stock Performance

NASDAQ NBIX opened at $152.57 on Friday. The stock’s fifty day moving average is $167.14 and its two-hundred day moving average is $148.88. The firm has a market capitalization of $15.51 billion, a P/E ratio of 22.37, a price-to-earnings-growth ratio of 0.71 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.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings results on Friday, July 31st. The company reported $2.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.65 by $1.20. The company had revenue of $959.00 million for the quarter, compared to analyst estimates of $891.16 million. Neurocrine Biosciences had a net margin of 20.91% and a return on equity of 22.43%. The business’s revenue for the quarter was up 39.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.65 earnings per share. As a group, sell-side analysts forecast that Neurocrine Biosciences, Inc. will post 7.25 EPS for the current year.

Neurocrine Biosciences Company 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.