5,822 Shares in Neurocrine Biosciences, Inc. $NBIX Acquired by Bank of Nova Scotia

Bank of Nova Scotia purchased a new position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 5,822 shares of the company’s stock, valued at approximately $981,000.

Other institutional investors also recently modified their holdings of the company. NewEdge Advisors LLC boosted its stake in shares of Neurocrine Biosciences by 0.5% during the 1st quarter. NewEdge Advisors LLC now owns 13,066 shares of the company’s stock worth $1,721,000 after acquiring an additional 68 shares in the last quarter. Huntington National Bank raised its position in shares of Neurocrine Biosciences by 12.6% during the fourth quarter. Huntington National Bank now owns 678 shares of the company’s stock worth $96,000 after purchasing an additional 76 shares during the period. Motley Fool Asset Management LLC raised its position in shares of Neurocrine Biosciences by 4.8% during the fourth quarter. Motley Fool Asset Management LLC now owns 1,693 shares of the company’s stock worth $240,000 after purchasing an additional 78 shares during the period. Main Management ETF Advisors LLC lifted its holdings in shares of Neurocrine Biosciences by 1.0% during the fourth quarter. Main Management ETF Advisors LLC now owns 7,830 shares of the company’s stock valued at $1,111,000 after purchasing an additional 80 shares during the last quarter. Finally, Westpac Banking Corp lifted its holdings in shares of Neurocrine Biosciences by 6.0% during the first quarter. Westpac Banking Corp now owns 1,615 shares of the company’s stock valued at $213,000 after purchasing an additional 91 shares during the last quarter. Institutional investors own 92.59% of the company’s stock.

Insider Activity at Neurocrine Biosciences

In related news, insider Darin Lippoldt sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $179.60, for a total transaction of $1,796,000.00. Following the completion of the sale, the insider directly owned 54,729 shares in the company, valued at approximately $9,829,328.40. This trade represents a 15.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 business’s stock in a transaction that occurred on Friday, July 10th. The shares were sold at an average price of $181.02, for a total transaction of $790,514.34. Following the transaction, the insider directly owned 16,225 shares in the company, valued at $2,937,049.50. The trade was a 21.21% decrease in their ownership of the stock. 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 sold 116,636 shares of company stock valued at $19,349,078 over the last ninety days. 4.60% of the stock is owned by company insiders.

Neurocrine Biosciences Trading Up 2.1%

NASDAQ:NBIX opened at $156.59 on Thursday. The business’s fifty day moving average price is $166.91 and its 200 day moving average price is $149.30. The firm has a market capitalization of $15.92 billion, a price-to-earnings ratio of 22.96, a PEG ratio of 0.72 and a beta of 0.39. Neurocrine Biosciences, Inc. has a 1-year low of $122.14 and a 1-year high of $186.12.

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

Wall Street Analysts Forecast Growth

NBIX has been the topic of a number of analyst reports. Wedbush lifted their price target on Neurocrine Biosciences from $185.00 to $194.00 and gave the stock an “outperform” rating in a research note on Monday, August 3rd. Citigroup upped their price objective on shares of Neurocrine Biosciences from $246.00 to $249.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Piper Sandler raised their target price on shares of Neurocrine Biosciences from $207.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, July 31st. Morgan Stanley dropped their target price on shares of Neurocrine Biosciences from $196.00 to $182.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 13th. Finally, Weiss Ratings lowered shares of Neurocrine Biosciences from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. One equities research 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 company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $200.86.

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.