Plato Investment Management Ltd Has $255,000 Stock Holdings in Neurocrine Biosciences, Inc. $NBIX

Key Points

• Plato Investment Management Ltd significantly reduced its holdings in Neurocrine Biosciences by 79% during Q1, leaving it with 2,282 shares valued at approximately $255,000.
• Several hedge funds including Cetera Investment Advisers and Ethic Inc. increased their positions in Neurocrine Biosciences, showcasing a trend of institutional investment in the company.
• Neurocrine Biosciences reported strong Q2 earnings with earnings per share of $1.06, surpassing analysts' expectations and indicating a 16.5% year-over-year revenue growth.

Plato Investment Management Ltd cut its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 79.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,282 shares of the company's stock after selling 8,562 shares during the period. Plato Investment Management Ltd's holdings in Neurocrine Biosciences were worth $255,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in NBIX. Cetera Investment Advisers boosted its position in Neurocrine Biosciences by 46.5% during the 4th quarter. Cetera Investment Advisers now owns 8,169 shares of the company's stock worth $1,115,000 after buying an additional 2,593 shares during the period. Ethic Inc. lifted its position in shares of Neurocrine Biosciences by 34.4% in the 4th quarter. Ethic Inc. now owns 4,192 shares of the company's stock worth $572,000 after purchasing an additional 1,073 shares during the period. OMERS ADMINISTRATION Corp lifted its position in shares of Neurocrine Biosciences by 20.9% in the 4th quarter. OMERS ADMINISTRATION Corp now owns 4,134 shares of the company's stock worth $564,000 after purchasing an additional 714 shares during the period. Nomura Holdings Inc. lifted its position in shares of Neurocrine Biosciences by 16.8% in the 4th quarter. Nomura Holdings Inc. now owns 13,434 shares of the company's stock worth $1,834,000 after purchasing an additional 1,934 shares during the period. Finally, Nissay Asset Management Corp Japan ADV lifted its position in shares of Neurocrine Biosciences by 1.2% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 12,186 shares of the company's stock worth $1,699,000 after purchasing an additional 146 shares during the period. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Piper Sandler boosted their price target on shares of Neurocrine Biosciences from $154.00 to $175.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. The Goldman Sachs Group assumed coverage on shares of Neurocrine Biosciences in a research report on Thursday, July 10th. They issued a "buy" rating and a $182.00 price target on the stock. Morgan Stanley boosted their price target on shares of Neurocrine Biosciences from $158.00 to $163.00 and gave the stock an "overweight" rating in a research report on Friday, September 5th. Guggenheim boosted their price target on shares of Neurocrine Biosciences from $165.00 to $175.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Finally, Royal Bank Of Canada boosted their price target on shares of Neurocrine Biosciences from $144.00 to $149.00 and gave the stock an "outperform" rating in a research report on Friday, September 5th. Eighteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $160.00.

Neurocrine Biosciences Stock Up 1.7%

Neurocrine Biosciences stock opened at $143.60 on Friday. Neurocrine Biosciences, Inc. has a 12-month low of $84.23 and a 12-month high of $154.61. The firm's fifty day moving average is $133.86 and its 200 day moving average is $120.97. The company has a market capitalization of $14.24 billion, a PE ratio of 42.49, a PEG ratio of 1.02 and a beta of 0.28.

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

Insider Buying and Selling at Neurocrine Biosciences

In other Neurocrine Biosciences news, 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 completion of the sale, the insider owned 18,289 shares in the company, valued at approximately $2,385,982.94. The trade was a 76.58% 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 Ingrid Delaet sold 457 shares of the business's stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $135.00, for a total transaction of $61,695.00. Following the sale, the insider owned 4,730 shares of the company's stock, valued at $638,550. This trade represents a 8.81% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 186,960 shares of company stock worth $23,955,553. 4.80% of the stock is owned by corporate insiders.

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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