Canada Pension Plan Investment Board Buys 122,649 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Canada Pension Plan Investment Board increased its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 186.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 188,549 shares of the company’s stock after acquiring an additional 122,649 shares during the quarter. Canada Pension Plan Investment Board owned about 0.19% of Neurocrine Biosciences worth $26,005,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of NBIX. Vestal Point Capital LP acquired a new stake in shares of Neurocrine Biosciences in the 4th quarter valued at $105,408,000. Los Angeles Capital Management LLC raised its holdings in Neurocrine Biosciences by 66.0% during the 4th quarter. Los Angeles Capital Management LLC now owns 918,391 shares of the company’s stock worth $121,007,000 after purchasing an additional 364,986 shares during the last quarter. Norges Bank bought a new stake in Neurocrine Biosciences during the 4th quarter worth about $35,731,000. Vanguard Group Inc. raised its holdings in Neurocrine Biosciences by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 9,930,926 shares of the company’s stock worth $1,369,673,000 after purchasing an additional 220,598 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in Neurocrine Biosciences by 81.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 410,103 shares of the company’s stock worth $54,035,000 after purchasing an additional 184,660 shares during the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

Insider Activity

In other news, Director Stephen A. Sherwin sold 40,000 shares of the stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $133.46, for a total value of $5,338,400.00. Following the completion of the sale, the director now owns 26,504 shares of the company’s stock, valued at approximately $3,537,223.84. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Stephen A. Sherwin sold 40,000 shares of the stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $133.46, for a total value of $5,338,400.00. Following the completion of the sale, the director now owns 26,504 shares of the company’s stock, valued at approximately $3,537,223.84. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Ingrid Delaet sold 273 shares of the stock in a transaction on Monday, May 6th. The shares were sold at an average price of $140.55, for a total value of $38,370.15. Following the completion of the sale, the insider now owns 7,507 shares in the company, valued at approximately $1,055,108.85. The disclosure for this sale can be found here. In the last 90 days, insiders sold 80,709 shares of company stock valued at $11,009,150. 4.30% of the stock is owned by insiders.

Neurocrine Biosciences Price Performance

NASDAQ:NBIX traded up $0.70 during trading hours on Friday, reaching $146.80. 744,764 shares of the stock were exchanged, compared to its average volume of 631,030. Neurocrine Biosciences, Inc. has a twelve month low of $99.36 and a twelve month high of $150.39. The firm has a 50 day moving average of $139.16 and a 200 day moving average of $137.90. The stock has a market cap of $14.77 billion, a PE ratio of 40.44 and a beta of 0.37.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.62). Neurocrine Biosciences had a return on equity of 17.45% and a net margin of 18.65%. The firm had revenue of $515.30 million for the quarter, compared to analyst estimates of $512.21 million. Equities research analysts anticipate that Neurocrine Biosciences, Inc. will post 4.22 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. StockNews.com cut Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a report on Saturday. Morgan Stanley boosted their price objective on Neurocrine Biosciences from $160.00 to $170.00 and gave the stock an “overweight” rating in a report on Friday, July 12th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $155.00 price target on shares of Neurocrine Biosciences in a research note on Thursday. JPMorgan Chase & Co. upped their price target on Neurocrine Biosciences from $169.00 to $173.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Finally, BMO Capital Markets upped their price target on Neurocrine Biosciences from $129.00 to $138.00 and gave the company a “market perform” rating in a research note on Thursday, May 2nd. Six investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Neurocrine Biosciences has an average rating of “Moderate Buy” and an average price target of $154.08.

Neurocrine Biosciences Profile

Neurocrine Biosciences, Inc discovers, develops, and markets pharmaceuticals for neurological, neuroendocrine, and neuropsychiatric disorders in the United States and internationally. The company's products include INGREZZA for tardive dyskinesia and chorea associated with Huntington's disease; ALKINDI for adrenal insufficiency; Efmody capsules for classic congenital adrenal hyperplasia; Orilissa tablets for endometriosis; and Oriahnn capsules to treat uterine fibroids.