TD Asset Management Inc Has $13.62 Million Stock Holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Key Points

• TD Asset Management Inc increased its ownership in Neurocrine Biosciences by 21.0%, holding 123,183 shares valued at approximately $13.6 million after acquiring an additional 21,400 shares in the first quarter.
• Neurocrine Biosciences reported a 16.5% year-over-year revenue increase, with $687.5 million in revenue for the last quarter and $1.06 EPS, exceeding expectations by $0.08.
• Several investment firms have raised their target prices for Neurocrine Biosciences, with the consensus now set at $163.87 and a general rating of "Moderate Buy."

TD Asset Management Inc grew its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 21.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 123,183 shares of the company's stock after buying an additional 21,400 shares during the period. TD Asset Management Inc owned approximately 0.12% of Neurocrine Biosciences worth $13,624,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NBIX. Dodge & Cox boosted its stake in 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 during the period. Wellington Management Group LLP grew its position in shares of Neurocrine Biosciences by 102.9% in the 4th quarter. Wellington Management Group LLP now owns 1,457,425 shares of the company's stock valued at $198,939,000 after buying an additional 739,199 shares during the last quarter. Orbimed Advisors LLC boosted its position in shares of Neurocrine Biosciences by 210.4% during 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 position in shares of Neurocrine Biosciences by 1,405.2% during 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. Finally, Norges Bank bought a new position in Neurocrine Biosciences in the fourth quarter worth approximately $44,403,000. Institutional investors own 92.59% of the company's stock.

Neurocrine Biosciences Trading Up 0.5%

Shares of NBIX stock traded up $0.68 during trading hours on Friday, hitting $128.91. The company's stock had a trading volume of 1,395,006 shares, compared to its average volume of 901,206. Neurocrine Biosciences, Inc. has a twelve month low of $84.23 and a twelve month high of $157.40. The business has a fifty day moving average of $128.26 and a 200-day moving average of $120.88. The stock has a market cap of $12.79 billion, a price-to-earnings ratio of 38.14, a P/E/G ratio of 1.32 and a beta of 0.25.

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

Analysts Set New Price Targets

NBIX has been the topic of a number of recent research reports. Morgan Stanley raised their target price on Neurocrine Biosciences from $150.00 to $158.00 and gave the company an "overweight" rating in a report on Thursday. Guggenheim lifted their price target on Neurocrine Biosciences from $165.00 to $175.00 and gave the company a "buy" rating in a research report on Friday. Wall Street Zen upgraded Neurocrine Biosciences from a "hold" rating to a "strong-buy" rating in a research report on Saturday. Piper Sandler boosted their target price on Neurocrine Biosciences from $154.00 to $175.00 and gave the company an "overweight" rating in a research note on Thursday. Finally, Canaccord Genuity Group upped their price target on Neurocrine Biosciences from $158.00 to $160.00 and gave the company a "buy" rating in a research report on Tuesday, May 6th. Three research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Neurocrine Biosciences currently has an average rating of "Moderate Buy" and an average target price of $160.90.

Insider Activity

In related news, Director William H. Rastetter sold 30,000 shares of the business's stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $110.20, for a total value of $3,306,000.00. Following the sale, the director directly owned 37,491 shares in the company, valued at $4,131,508.20. The trade was a 44.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Ingrid Delaet sold 457 shares of the business's stock in a transaction that occurred 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 in the company, valued at $638,550. This represents a 8.81% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 120,251 shares of company stock valued at $14,978,602. Company insiders own 4.80% of the company's stock.

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.