Plato Investment Management Ltd Acquires Shares of 4,006 Neurocrine Biosciences, Inc. $NBIX

Plato Investment Management Ltd acquired a new stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) during the 2nd quarter, Holdings Channel.com reports. The fund acquired 4,006 shares of the company’s stock, valued at approximately $671,000.

A number of other hedge funds also recently modified their holdings of the stock. Geneos Wealth Management Inc. grew its stake in Neurocrine Biosciences by 143.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock valued at $25,000 after buying an additional 135 shares during the last quarter. DJE Kapital AG acquired a new stake in Neurocrine Biosciences during the fourth quarter worth approximately $28,000. Basecamp Wealth Advisors LLC lifted its position in Neurocrine Biosciences by 582.9% during the first quarter. Basecamp Wealth Advisors LLC now owns 239 shares of the company’s stock worth $31,000 after acquiring an additional 204 shares during the last quarter. Cassaday & Co Wealth Management LLC acquired a new stake in Neurocrine Biosciences during the first quarter worth approximately $33,000. Finally, Meeder Asset Management Inc. boosted its holdings in shares of Neurocrine Biosciences by 651.6% during the fourth quarter. Meeder Asset Management Inc. now owns 233 shares of the company’s stock worth $33,000 after acquiring an additional 202 shares during the period. Institutional investors and hedge funds own 92.59% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Wells Fargo & Company upped their target price on Neurocrine Biosciences from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday, July 17th. Sanford C. Bernstein assumed coverage on Neurocrine Biosciences in a report on Friday, May 22nd. They set an “outperform” rating and a $221.00 price target for the company. Wedbush boosted their price target on Neurocrine Biosciences from $185.00 to $194.00 and gave the company an “outperform” rating in a research note on Monday, August 3rd. The Goldman Sachs Group initiated coverage on Neurocrine Biosciences in a report on Tuesday, June 2nd. They issued a “buy” rating and a $213.00 price objective on the stock. Finally, Leerink Partners increased their price objective on Neurocrine Biosciences from $160.00 to $170.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $200.86.

Neurocrine Biosciences Price Performance

NASDAQ NBIX opened at $154.23 on Wednesday. The business has a fifty day moving average price of $167.59 and a two-hundred day moving average price of $148.61. The stock has a market capitalization of $15.68 billion, a PE ratio of 22.61, a PEG ratio of 0.67 and a beta of 0.39. Neurocrine Biosciences, Inc. has a fifty-two week low of $122.14 and a fifty-two week high of $186.12.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings results on Friday, July 31st. The company reported $2.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.65 by $1.20. Neurocrine Biosciences had a return on equity of 22.43% and a net margin of 20.91%.The company had revenue of $959.00 million for the quarter, compared to analyst estimates of $891.16 million. During the same quarter last year, the company posted $1.65 EPS. The company’s revenue for the quarter was up 39.5% compared to the same quarter last year. As a group, sell-side analysts expect that Neurocrine Biosciences, Inc. will post 7.25 earnings per share for the current year.

Insiders Place Their Bets

In other Neurocrine Biosciences news, insider Darin Lippoldt sold 10,000 shares of Neurocrine Biosciences stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $179.60, for a total value of $1,796,000.00. Following the transaction, the insider owned 54,729 shares in the company, valued at $9,829,328.40. The trade was a 15.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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 dated Friday, July 10th. The stock was sold at an average price of $181.02, for a total value of $790,514.34. Following the transaction, the insider directly owned 16,225 shares of the company’s stock, valued at approximately $2,937,049.50. The trade was a 21.21% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 131,524 shares of company stock valued at $21,668,924. 4.60% of the stock is owned by corporate insiders.

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.