Caisse de depot et placement du Quebec Purchases Shares of 539,961 Neurocrine Biosciences, Inc. $NBIX

Caisse de depot et placement du Quebec acquired a new position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 539,961 shares of the company’s stock, valued at approximately $91,002,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. BlackRock Inc. acquired a new stake in Neurocrine Biosciences in the 2nd quarter valued at about $2,310,886,000. AQR Capital Management LLC raised its stake in Neurocrine Biosciences by 18.0% in the fourth quarter. AQR Capital Management LLC now owns 3,271,706 shares of the company’s stock valued at $462,652,000 after buying an additional 498,058 shares during the period. Renaissance Technologies LLC lifted its position in shares of Neurocrine Biosciences by 8.0% in the first quarter. Renaissance Technologies LLC now owns 2,418,897 shares of the company’s stock valued at $318,665,000 after buying an additional 180,100 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Neurocrine Biosciences by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 2,059,282 shares of the company’s stock valued at $291,342,000 after buying an additional 34,457 shares during the last quarter. Finally, Los Angeles Capital Management LLC boosted its stake in shares of Neurocrine Biosciences by 7.4% during the 4th quarter. Los Angeles Capital Management LLC now owns 1,291,278 shares of the company’s stock worth $178,248,000 after acquiring an additional 88,522 shares during the period. 92.59% of the stock is owned by institutional investors.

Neurocrine Biosciences Stock Performance

NASDAQ:NBIX opened at $156.59 on Thursday. Neurocrine Biosciences, Inc. has a 52 week low of $122.14 and a 52 week high of $186.12. The firm’s 50-day simple moving average is $166.91 and its 200 day simple moving average is $149.30. The firm has a market cap of $15.92 billion, a price-to-earnings ratio of 22.96, a P/E/G ratio of 0.72 and a beta of 0.39.

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

Insider Buying and Selling at Neurocrine Biosciences

In related news, Director Leslie V. Norwalk sold 1,250 shares of the stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $182.01, for a total transaction of $227,512.50. Following the sale, the director owned 1,588 shares of the company’s stock, valued at $289,031.88. This represents a 44.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Ingrid Delaet sold 4,367 shares of the firm’s stock in a transaction on Friday, July 10th. The stock was sold at an average price of $181.02, for a total value of $790,514.34. Following the transaction, the insider owned 16,225 shares in the company, valued at approximately $2,937,049.50. This trade represents a 21.21% 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. Insiders have sold a total of 116,636 shares of company stock valued at $19,349,078 in the last three months. Corporate insiders own 4.60% of the company’s stock.

Wall Street Analysts Forecast Growth

NBIX has been the topic of a number of research analyst reports. Stifel Nicolaus increased their price target on Neurocrine Biosciences from $188.00 to $215.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Weiss Ratings cut shares of Neurocrine Biosciences from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, August 11th. Wedbush increased their price objective on shares of Neurocrine Biosciences from $185.00 to $194.00 and gave the company an “outperform” rating in a research report on Monday, August 3rd. Citigroup increased their price objective on shares of Neurocrine Biosciences from $246.00 to $249.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Finally, Canaccord Genuity Group raised their target price on shares of Neurocrine Biosciences from $200.00 to $210.00 and gave the stock a “buy” rating in a research note on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have given 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.

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.