Nisa Investment Advisors LLC Increases Stake in Neurocrine Biosciences, Inc. $NBIX

Nisa Investment Advisors LLC lifted its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 104.6% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 27,146 shares of the company’s stock after purchasing an additional 13,878 shares during the period. Nisa Investment Advisors LLC’s holdings in Neurocrine Biosciences were worth $3,811,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in NBIX. Royal Bank of Canada lifted its stake in Neurocrine Biosciences by 36.7% in the first quarter. Royal Bank of Canada now owns 82,810 shares of the company’s stock worth $9,158,000 after acquiring an additional 22,224 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Neurocrine Biosciences by 60.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,783 shares of the company’s stock valued at $1,647,000 after purchasing an additional 5,577 shares in the last quarter. NewEdge Advisors LLC lifted its position in shares of Neurocrine Biosciences by 56.3% during the 1st quarter. NewEdge Advisors LLC now owns 7,630 shares of the company’s stock worth $844,000 after purchasing an additional 2,747 shares during the last quarter. Empowered Funds LLC acquired a new position in shares of Neurocrine Biosciences during the first quarter worth $1,333,000. Finally, Geneos Wealth Management Inc. grew its stake in shares of Neurocrine Biosciences by 143.6% during the first quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock worth $25,000 after purchasing an additional 135 shares in the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on NBIX. TD Cowen raised their price target on Neurocrine Biosciences from $175.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, December 5th. 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 research report on Wednesday, October 29th. Royal Bank Of Canada boosted their target price on Neurocrine Biosciences from $160.00 to $180.00 and gave the stock an “outperform” rating in a research note on Monday, December 8th. Stifel Nicolaus increased their price target on shares of Neurocrine Biosciences from $183.00 to $188.00 and gave the company a “buy” rating in a research note on Thursday, December 11th. Finally, Mizuho boosted their price objective on shares of Neurocrine Biosciences from $146.00 to $175.00 and gave the stock a “neutral” rating in a research report on Friday, December 12th. Seventeen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, Neurocrine Biosciences currently has an average rating of “Moderate Buy” and a consensus target price of $175.10.

Neurocrine Biosciences Trading Down 2.3%

Shares of NASDAQ NBIX opened at $132.66 on Tuesday. The stock has a market cap of $13.23 billion, a P/E ratio of 31.74, a P/E/G ratio of 0.66 and a beta of 0.28. Neurocrine Biosciences, Inc. has a twelve month low of $84.23 and a twelve month high of $160.18. The stock has a 50 day moving average of $146.17 and a two-hundred day moving average of $139.86.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its earnings results on Tuesday, October 28th. The company reported $2.17 EPS for the quarter, beating analysts’ consensus estimates of $1.58 by $0.59. Neurocrine Biosciences had a net margin of 15.95% and a return on equity of 15.82%. The business had revenue of $794.90 million for the quarter, compared to analysts’ expectations of $746.61 million. During the same period in the previous year, the company posted $1.81 EPS. The company’s quarterly revenue was up 27.8% on a year-over-year basis. As a group, research analysts predict that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.

Insider Activity at Neurocrine Biosciences

In related 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 transaction of $698,628.40. Following the transaction, the insider owned 43,405 shares of the company’s stock, valued at $6,929,608.25. This trade represents a 9.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director William H. Rastetter sold 18,000 shares of the business’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $151.82, for a total value of $2,732,760.00. Following the completion of the transaction, the director owned 40,360 shares in the company, valued at $6,127,455.20. This trade represents a 30.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 43,866 shares of company stock worth $6,570,237 in the last three months. Company insiders own 4.30% of the company’s stock.

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.