iA Global Asset Management Inc. Takes $732,000 Position in Neurocrine Biosciences, Inc. $NBIX

iA Global Asset Management Inc. acquired a new position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 5,215 shares of the company’s stock, valued at approximately $732,000.

A number of other hedge funds also recently bought and sold shares of NBIX. Dodge & Cox boosted its position in Neurocrine Biosciences by 0.6% in the second quarter. Dodge & Cox now owns 5,566,814 shares of the company’s stock worth $699,693,000 after purchasing an additional 32,190 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Neurocrine Biosciences by 59.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 4,261,747 shares of the company’s stock worth $535,659,000 after purchasing an additional 1,590,749 shares during the period. AQR Capital Management LLC boosted its holdings in shares of Neurocrine Biosciences by 40.5% in the second quarter. AQR Capital Management LLC now owns 1,510,015 shares of the company’s stock worth $189,794,000 after buying an additional 435,385 shares during the last quarter. Norges Bank purchased a new position in shares of Neurocrine Biosciences in the second quarter worth approximately $122,278,000. Finally, Charles Schwab Investment Management Inc. grew its position in Neurocrine Biosciences by 1.8% during the second quarter. Charles Schwab Investment Management Inc. now owns 789,715 shares of the company’s stock valued at $99,259,000 after buying an additional 13,942 shares during the period. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on NBIX. Wall Street Zen upgraded shares of Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a research note on Sunday, January 18th. Needham & Company LLC raised their target price on Neurocrine Biosciences from $170.00 to $184.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. TD Cowen boosted their price target on Neurocrine Biosciences from $175.00 to $200.00 and gave the company a “buy” rating in a report on Friday, December 5th. JPMorgan Chase & Co. reduced their price target on Neurocrine Biosciences from $179.00 to $177.00 and set an “overweight” rating for the company in a research report on Monday, January 12th. Finally, Truist Financial decreased their price objective on Neurocrine Biosciences from $172.00 to $169.00 and set a “buy” rating on the stock in a research note on Thursday, January 8th. Seventeen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $174.25.

Neurocrine Biosciences Stock Down 0.9%

NASDAQ:NBIX opened at $136.18 on Friday. The business’s 50-day simple moving average is $143.61 and its two-hundred day simple moving average is $140.20. Neurocrine Biosciences, Inc. has a 52 week low of $84.23 and a 52 week high of $160.18. The stock has a market cap of $13.58 billion, a PE ratio of 32.58, a P/E/G ratio of 0.71 and a beta of 0.28.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings data on Tuesday, October 28th. The company reported $2.17 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.59. The firm had revenue of $794.90 million during the quarter, compared to analyst estimates of $746.61 million. Neurocrine Biosciences had a return on equity of 15.82% and a net margin of 15.95%.The business’s quarterly revenue was up 27.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.81 earnings per share. Sell-side analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Neurocrine Biosciences news, insider Darin Lippoldt sold 4,376 shares of the stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $159.65, for a total transaction of $698,628.40. Following the completion of the sale, the insider directly owned 43,405 shares of the company’s stock, valued at $6,929,608.25. This trade represents a 9.16% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Kyle Gano sold 36,400 shares of the business’s stock in a transaction on Friday, January 16th. The stock was sold at an average price of $132.70, for a total transaction of $4,830,280.00. Following the completion of the transaction, the chief executive officer directly owned 140,407 shares in the company, valued at $18,632,008.90. This trade represents a 20.59% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 80,266 shares of company stock worth $11,400,517 over the last ninety days. 4.80% of the stock is owned by company insiders.

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.