Neurocrine Biosciences, Inc. $NBIX Stock Position Lowered by TD Asset Management Inc

TD Asset Management Inc decreased its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 16.0% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 103,623 shares of the company’s stock after selling 19,700 shares during the period. TD Asset Management Inc owned about 0.10% of Neurocrine Biosciences worth $14,547,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in NBIX. Geneos Wealth Management Inc. boosted its position in shares of Neurocrine Biosciences by 143.6% in the first quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock worth $25,000 after buying an additional 135 shares during the period. Golden State Wealth Management LLC boosted its position in Neurocrine Biosciences by 120.5% during the 3rd quarter. Golden State Wealth Management LLC now owns 183 shares of the company’s stock worth $26,000 after acquiring an additional 100 shares during the period. Eastern Bank acquired a new stake in Neurocrine Biosciences during the 3rd quarter worth about $27,000. Quent Capital LLC purchased a new position in Neurocrine Biosciences during the 3rd quarter valued at about $32,000. Finally, MAI Capital Management increased its holdings in shares of Neurocrine Biosciences by 101.2% in the 2nd quarter. MAI Capital Management now owns 328 shares of the company’s stock valued at $41,000 after purchasing an additional 165 shares during the period. 92.59% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Neurocrine Biosciences

In other news, insider Darin Lippoldt sold 4,376 shares of the firm’s stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $159.65, for a total value of $698,628.40. Following the sale, the insider directly owned 43,405 shares of the company’s stock, valued at approximately $6,929,608.25. This trade represents a 9.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Kyle Gano sold 36,400 shares of the business’s stock in a transaction dated Friday, January 16th. The stock was sold at an average price of $132.70, for a total value of $4,830,280.00. Following the transaction, the chief executive officer directly owned 140,407 shares of the company’s stock, valued at $18,632,008.90. This represents a 20.59% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 46,966 shares of company stock worth $6,474,616. 4.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

NBIX has been the subject of several research reports. HC Wainwright decreased their price target on shares of Neurocrine Biosciences from $198.00 to $192.00 and set a “buy” rating for the company in a report on Thursday, February 12th. Needham & Company LLC cut their target price on shares of Neurocrine Biosciences from $187.00 to $185.00 and set a “buy” rating for the company in a research report on Thursday, February 12th. Zacks Research cut shares of Neurocrine Biosciences from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 17th. JPMorgan Chase & Co. dropped their price target on shares of Neurocrine Biosciences from $177.00 to $176.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 17th. Finally, Wall Street Zen cut Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 16th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $175.05.

Neurocrine Biosciences Stock Performance

Shares of NBIX stock opened at $132.25 on Monday. The stock’s 50 day simple moving average is $135.90 and its 200 day simple moving average is $140.57. Neurocrine Biosciences, Inc. has a twelve month low of $84.23 and a twelve month high of $160.18. The company has a market capitalization of $13.27 billion, a price-to-earnings ratio of 28.38, a PEG ratio of 0.69 and a beta of 0.32.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings results on Wednesday, February 11th. The company reported $1.88 EPS for the quarter, missing the consensus estimate of $2.36 by ($0.48). Neurocrine Biosciences had a net margin of 16.73% and a return on equity of 16.48%. The company had revenue of $805.50 million for the quarter, compared to analyst estimates of $804.21 million. During the same quarter last year, the business earned $1.69 EPS. The company’s revenue for the quarter was up 28.3% on a year-over-year basis. On average, analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

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.