Korea Investment CORP Has $10.06 Million Stock Holdings in Neurocrine Biosciences, Inc. $NBIX

Korea Investment CORP boosted its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 94.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 71,689 shares of the company’s stock after purchasing an additional 34,800 shares during the quarter. Korea Investment CORP owned about 0.07% of Neurocrine Biosciences worth $10,064,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Arrowstreet Capital Limited Partnership boosted its position in shares of Neurocrine Biosciences by 87.9% in the second quarter. Arrowstreet Capital Limited Partnership now owns 125,162 shares of the company’s stock valued at $15,732,000 after acquiring an additional 58,562 shares during the period. Saturn V Capital Management LP bought a new position in Neurocrine Biosciences during the second quarter worth $7,313,000. Capital Fund Management S.A. raised its stake in Neurocrine Biosciences by 15.9% during the 2nd quarter. Capital Fund Management S.A. now owns 203,628 shares of the company’s stock valued at $25,594,000 after purchasing an additional 27,987 shares during the last quarter. Rhenman & Partners Asset Management AB raised its stake in Neurocrine Biosciences by 66.1% during the 2nd quarter. Rhenman & Partners Asset Management AB now owns 149,217 shares of the company’s stock valued at $18,755,000 after purchasing an additional 59,400 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in Neurocrine Biosciences by 86.7% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 28,185 shares of the company’s stock valued at $3,957,000 after purchasing an additional 13,087 shares during the period. Institutional investors and hedge funds own 92.59% of the company’s stock.

Insider Buying and Selling at Neurocrine Biosciences

In related news, Director Leslie V. Norwalk sold 1,190 shares of the business’s stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $155.09, for a total value of $184,557.10. Following the sale, the director owned 6,239 shares of the company’s stock, valued at $967,606.51. The trade was a 16.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Kyle Gano sold 36,400 shares of the stock in a transaction on Friday, January 16th. The stock was sold at an average price of $132.70, for a total value of $4,830,280.00. Following the transaction, the chief executive officer owned 140,407 shares of the company’s stock, valued at $18,632,008.90. This represents a 20.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 42,590 shares of company stock worth $5,775,987. 4.80% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Mizuho raised their price target 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. TD Cowen increased their target price on shares of Neurocrine Biosciences from $175.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, December 5th. HC Wainwright reduced their target price on shares of Neurocrine Biosciences from $198.00 to $192.00 and set a “buy” rating for the company in a research note on Thursday, February 12th. Truist Financial decreased their target price on Neurocrine Biosciences from $169.00 to $140.00 and set a “buy” rating on the stock in a research report on Tuesday, February 17th. Finally, Morgan Stanley restated an “equal weight” rating and set a $175.00 price target (up from $173.00) on shares of Neurocrine Biosciences in a research note on Thursday, January 8th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Neurocrine Biosciences has a consensus rating of “Moderate Buy” and an average price target of $175.05.

Neurocrine Biosciences Stock Down 0.2%

NASDAQ NBIX opened at $129.54 on Thursday. Neurocrine Biosciences, Inc. has a twelve month low of $84.23 and a twelve month high of $160.18. The stock has a market cap of $13.00 billion, a P/E ratio of 27.80, a PEG ratio of 0.68 and a beta of 0.32. The company’s 50-day simple moving average is $133.57 and its 200 day simple moving average is $140.36.

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

Neurocrine Biosciences 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.