Bank Julius Baer & Co. Ltd Zurich Invests $1.68 Million in Neurocrine Biosciences, Inc. $NBIX

Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) in the 4th quarter, Holdings Channel reports. The firm purchased 11,913 shares of the company’s stock, valued at approximately $1,680,000.

Other hedge funds also recently made changes to their positions in the company. Nilsine Partners LLC bought a new position in Neurocrine Biosciences during the fourth quarter worth $1,197,000. Ruffer LLP bought a new position in Neurocrine Biosciences during the fourth quarter worth $2,479,000. Korea Investment CORP boosted its position in Neurocrine Biosciences by 94.3% during the third quarter. Korea Investment CORP now owns 71,689 shares of the company’s stock worth $10,064,000 after purchasing an additional 34,800 shares during the period. CIBC Private Wealth Group LLC boosted its position in Neurocrine Biosciences by 17,250.0% during the third quarter. CIBC Private Wealth Group LLC now owns 7,981 shares of the company’s stock worth $1,120,000 after purchasing an additional 7,935 shares during the period. Finally, Envestnet Asset Management Inc. boosted its position in shares of Neurocrine Biosciences by 2.4% in the third quarter. Envestnet Asset Management Inc. now owns 202,846 shares of the company’s stock valued at $28,476,000 after acquiring an additional 4,807 shares during the period. 92.59% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Truist Financial boosted their target price on shares of Neurocrine Biosciences from $140.00 to $155.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Royal Bank Of Canada boosted their target price on shares of Neurocrine Biosciences from $176.00 to $180.00 and gave the company an “outperform” rating in a research report on Wednesday, May 6th. Citigroup boosted their target price on shares of Neurocrine Biosciences from $242.00 to $246.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. HC Wainwright boosted their target price on shares of Neurocrine Biosciences from $192.00 to $215.00 and gave the company a “buy” rating in a research report on Tuesday, April 7th. Finally, Wall Street Zen raised shares of Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a research report on Saturday, April 25th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $184.15.

Insider Buying and Selling

In related news, Director Leslie V. Norwalk sold 3,810 shares of the business’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $155.01, for a total value of $590,588.10. Following the completion of the transaction, the director owned 2,429 shares of the company’s stock, valued at $376,519.29. The trade was a 61.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 4.60% of the stock is currently owned by company insiders.

Neurocrine Biosciences Stock Down 0.4%

NBIX stock opened at $158.42 on Friday. The company has a market cap of $15.93 billion, a PE ratio of 24.41, a price-to-earnings-growth ratio of 1.19 and a beta of 0.34. The business has a 50-day simple moving average of $134.05 and a 200 day simple moving average of $138.46. Neurocrine Biosciences, Inc. has a 52 week low of $117.59 and a 52 week high of $162.39.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings results on Wednesday, February 11th. The company reported $1.88 EPS for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.48). The company had revenue of $805.50 million during the quarter, compared to analyst estimates of $804.21 million. Neurocrine Biosciences had a net margin of 21.55% and a return on equity of 19.79%. The firm’s revenue for the quarter was up 28.3% compared to the same quarter last year. During the same period last year, the firm earned $1.69 EPS. On average, analysts anticipate that Neurocrine Biosciences, Inc. will post 7.16 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.