Ontario Teachers Pension Plan Board Buys Shares of 15,379 Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Key Points

• The Ontario Teachers Pension Plan Board acquired 15,379 shares of Neurocrine Biosciences, Inc. valued at approximately $1.7 million.
• Notably, institutional investors currently own 92.59% of Neurocrine's stock, indicating significant institutional interest in the company.
• Neurocrine reported a 16.5% year-on-year increase in revenue, totaling $687.50 million, along with an earnings per share of $1.06 that surpassed analyst expectations.

Ontario Teachers Pension Plan Board purchased a new stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 15,379 shares of the company's stock, valued at approximately $1,701,000.

A number of other hedge funds also recently made changes to their positions in NBIX. Dodge & Cox boosted its stake in shares of Neurocrine Biosciences by 134.2% in the 4th quarter. Dodge & Cox now owns 3,016,425 shares of the company's stock valued at $411,742,000 after purchasing an additional 1,728,605 shares in the last quarter. Orbimed Advisors LLC boosted its stake in shares of Neurocrine Biosciences by 210.4% in the 4th quarter. Orbimed Advisors LLC now owns 938,120 shares of the company's stock valued at $128,053,000 after purchasing an additional 635,900 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Neurocrine Biosciences by 1,405.2% in the 1st quarter. Assenagon Asset Management S.A. now owns 393,455 shares of the company's stock valued at $43,516,000 after purchasing an additional 367,315 shares in the last quarter. Iron Triangle Partners LP acquired a new stake in shares of Neurocrine Biosciences in the 4th quarter valued at approximately $43,434,000. Finally, Alyeska Investment Group L.P. acquired a new stake in shares of Neurocrine Biosciences in the 4th quarter valued at approximately $33,979,000. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Neurocrine Biosciences

In other Neurocrine Biosciences news, Director Kevin Charles Gorman sold 9,613 shares of the business's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $120.38, for a total transaction of $1,157,212.94. Following the completion of the sale, the director owned 514,596 shares in the company, valued at approximately $61,947,066.48. The trade was a 1.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jude Onyia sold 59,819 shares of the business's stock in a transaction on Wednesday, July 9th. The shares were sold at an average price of $130.46, for a total transaction of $7,803,986.74. Following the sale, the insider owned 18,289 shares of the company's stock, valued at $2,385,982.94. This trade represents a 76.58% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 90,251 shares of company stock worth $11,672,602. 4.80% of the stock is owned by corporate insiders.

Neurocrine Biosciences Stock Down 2.2%

NASDAQ:NBIX opened at $125.60 on Friday. The company has a fifty day moving average of $128.67 and a 200-day moving average of $120.62. The firm has a market capitalization of $12.46 billion, a P/E ratio of 37.16, a P/E/G ratio of 0.93 and a beta of 0.25. Neurocrine Biosciences, Inc. has a twelve month low of $84.23 and a twelve month high of $154.87.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.08. The company had revenue of $687.50 million during the quarter, compared to analyst estimates of $653.09 million. Neurocrine Biosciences had a net margin of 13.88% and a return on equity of 13.22%. Neurocrine Biosciences's revenue for the quarter was up 16.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.63 EPS. On average, analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. UBS Group raised their price target on shares of Neurocrine Biosciences from $152.00 to $174.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. JPMorgan Chase & Co. lifted their target price on shares of Neurocrine Biosciences from $140.00 to $145.00 and gave the stock a "neutral" rating in a research report on Thursday, July 31st. HC Wainwright cut their target price on shares of Neurocrine Biosciences from $185.00 to $168.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Wedbush lifted their target price on shares of Neurocrine Biosciences from $137.00 to $141.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Finally, Wall Street Zen upgraded shares of Neurocrine Biosciences from a "hold" rating to a "strong-buy" rating in a research report on Saturday, August 2nd. Three analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $160.90.

Neurocrine Biosciences Company Profile

Neurocrine Biosciences, Inc discovers, develops, and markets pharmaceuticals for neurological, neuroendocrine, and neuropsychiatric disorders in the United States and internationally. The company's products include INGREZZA for tardive dyskinesia and chorea associated with Huntington's disease; ALKINDI for adrenal insufficiency; Efmody capsules for classic congenital adrenal hyperplasia; Orilissa tablets for endometriosis; and Oriahnn capsules to treat uterine fibroids.

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