OMERS ADMINISTRATION Corp Makes New $878,000 Investment in Neurocrine Biosciences, Inc. $NBIX

OMERS ADMINISTRATION Corp bought a new stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 5,210 shares of the company’s stock, valued at approximately $878,000.

A number of other hedge funds also recently modified their holdings of the stock. DJE Kapital AG bought a new stake in Neurocrine Biosciences during the fourth quarter worth about $28,000. Geneos Wealth Management Inc. raised its position 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 buying an additional 135 shares in the last quarter. Meeder Asset Management Inc. raised its position in shares of Neurocrine Biosciences by 651.6% in the 4th quarter. Meeder Asset Management Inc. now owns 233 shares of the company’s stock valued at $33,000 after buying an additional 202 shares in the last quarter. Basecamp Wealth Advisors LLC lifted its holdings in shares of Neurocrine Biosciences by 582.9% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 239 shares of the company’s stock worth $31,000 after acquiring an additional 204 shares during the period. Finally, Cassaday & Co Wealth Management LLC bought a new stake in shares of Neurocrine Biosciences during the 1st quarter worth approximately $33,000. Institutional investors own 92.59% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on NBIX shares. Sanford C. Bernstein started coverage on shares of Neurocrine Biosciences in a research note on Friday, May 22nd. They issued an “outperform” rating and a $221.00 price objective on the stock. Morgan Stanley cut their target price on Neurocrine Biosciences from $196.00 to $182.00 and set an “equal weight” rating for the company in a research note on Thursday, August 13th. Piper Sandler lifted their price target on Neurocrine Biosciences from $207.00 to $210.00 and gave the company an “overweight” rating in a research note on Friday, July 31st. Wedbush boosted their price target on Neurocrine Biosciences from $185.00 to $194.00 and gave the stock an “outperform” rating in a report on Monday, August 3rd. Finally, Citigroup raised their price objective on Neurocrine Biosciences from $246.00 to $249.00 and gave the company a “buy” rating in a research note on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $200.86.

Neurocrine Biosciences Stock Down 0.4%

NASDAQ NBIX opened at $155.92 on Friday. The company has a market cap of $15.85 billion, a price-to-earnings ratio of 22.86, a price-to-earnings-growth ratio of 0.73 and a beta of 0.39. Neurocrine Biosciences, Inc. has a twelve month low of $122.14 and a twelve month high of $186.12. The business’s fifty day moving average is $166.86 and its 200 day moving average is $149.40.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its 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. Neurocrine Biosciences had a return on equity of 22.43% and a net margin of 20.91%.The business had revenue of $959.00 million during the quarter, compared to analysts’ expectations of $891.16 million. During the same quarter in the prior year, the firm earned $1.65 EPS. The business’s revenue for the quarter was up 39.5% compared to the same quarter last year. On average, research analysts anticipate that Neurocrine Biosciences, Inc. will post 7.25 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Ingrid Delaet sold 8,433 shares of the firm’s stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $178.72, for a total value of $1,507,145.76. Following the completion of the transaction, the insider owned 16,225 shares in the company, valued at $2,899,732. This trade represents a 34.20% decrease in their position. 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, insider Jude Onyia sold 11,000 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $160.25, for a total transaction of $1,762,750.00. Following the completion of the transaction, the insider owned 25,846 shares of the company’s stock, valued at approximately $4,141,821.50. This trade represents a 29.85% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 114,375 shares of company stock valued at $18,994,756 over the last three months. Insiders own 4.60% of the company’s stock.

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.