14,653 Shares in Neurocrine Biosciences, Inc. $NBIX Acquired by Munich Reinsurance Co Stock Corp in Munich

Munich Reinsurance Co Stock Corp in Munich acquired a new stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 14,653 shares of the company’s stock, valued at approximately $2,057,000.

Several other institutional investors and hedge funds have also bought and sold shares of NBIX. Geneos Wealth Management Inc. grew its stake in shares of Neurocrine Biosciences by 143.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock worth $25,000 after acquiring an additional 135 shares during the period. Golden State Wealth Management LLC raised its stake in Neurocrine Biosciences by 120.5% in the 3rd quarter. Golden State Wealth Management LLC now owns 183 shares of the company’s stock valued at $26,000 after acquiring an additional 100 shares during the period. Eastern Bank purchased a new stake in Neurocrine Biosciences during the third quarter valued at about $27,000. Quent Capital LLC bought a new position in Neurocrine Biosciences during the third quarter worth about $32,000. Finally, MAI Capital Management boosted its position in Neurocrine Biosciences by 101.2% during the second quarter. MAI Capital Management now owns 328 shares of the company’s stock worth $41,000 after purchasing an additional 165 shares during the period. 92.59% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on NBIX. Citigroup boosted their price target on shares of Neurocrine Biosciences from $203.00 to $204.00 and gave the company a “buy” rating in a research report on Thursday, February 12th. JPMorgan Chase & Co. reduced their price objective on shares of Neurocrine Biosciences from $177.00 to $176.00 and set an “overweight” rating for the company in a research note on Tuesday, February 17th. Royal Bank Of Canada lowered their target price on shares of Neurocrine Biosciences from $180.00 to $177.00 and set an “outperform” rating on the stock in a report on Thursday, February 12th. Wolfe Research started coverage on Neurocrine Biosciences in a research report on Tuesday, February 24th. They set an “outperform” rating and a $160.00 target price on the stock. Finally, Stifel Nicolaus raised their price target on Neurocrine Biosciences from $183.00 to $188.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $175.05.

Neurocrine Biosciences Trading Down 1.2%

Shares of NASDAQ:NBIX opened at $128.13 on Friday. The company has a 50 day moving average of $134.31 and a 200 day moving average of $140.46. The stock has a market cap of $12.86 billion, a P/E ratio of 27.50, a P/E/G ratio of 0.67 and a beta of 0.32. Neurocrine Biosciences, Inc. has a 12 month low of $84.23 and a 12 month high of $160.18.

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

Insider Buying and Selling

In related news, 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 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. The trade was a 20.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Leslie V. Norwalk sold 1,190 shares of the firm’s stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $155.09, for a total value of $184,557.10. Following the completion of the sale, the director directly owned 6,239 shares in the company, valued at approximately $967,606.51. The trade was a 16.02% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 46,966 shares of company stock worth $6,474,616. Corporate insiders own 4.80% of the company’s stock.

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.