Bank of Nova Scotia Makes New $981,000 Investment in Neurocrine Biosciences, Inc. $NBIX

Bank of Nova Scotia purchased a new position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) in the second quarter, Holdings Channel.com reports. The firm purchased 5,822 shares of the company’s stock, valued at approximately $981,000.

Other institutional investors have also made changes to their positions in the company. Geneos Wealth Management Inc. grew its stake in shares of Neurocrine Biosciences by 143.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock valued at $25,000 after buying an additional 135 shares in the last quarter. DJE Kapital AG bought a new position in Neurocrine Biosciences during the fourth quarter valued at approximately $28,000. Basecamp Wealth Advisors LLC raised its position in Neurocrine Biosciences by 582.9% during the first quarter. Basecamp Wealth Advisors LLC now owns 239 shares of the company’s stock valued at $31,000 after acquiring an additional 204 shares in the last quarter. Cassaday & Co Wealth Management LLC acquired a new stake in Neurocrine Biosciences in the first quarter valued at approximately $33,000. Finally, Meeder Asset Management Inc. lifted its stake in Neurocrine Biosciences by 651.6% in the fourth quarter. Meeder Asset Management Inc. now owns 233 shares of the company’s stock valued at $33,000 after acquiring an additional 202 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have commented on NBIX. The Goldman Sachs Group started coverage on shares of Neurocrine Biosciences in a research report on Tuesday, June 2nd. They issued a “buy” rating and a $213.00 target price for the company. Zacks Research lowered shares of Neurocrine Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 4th. Citigroup upped their price objective on shares of Neurocrine Biosciences from $246.00 to $249.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Piper Sandler increased their target price on shares of Neurocrine Biosciences from $207.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday, July 31st. Finally, Sanford C. Bernstein started coverage on shares of Neurocrine Biosciences in a research report on Friday, May 22nd. They set an “outperform” rating and a $221.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $200.86.

Neurocrine Biosciences Stock Up 2.1%

Shares of NBIX stock opened at $156.59 on Thursday. Neurocrine Biosciences, Inc. has a 12 month low of $122.14 and a 12 month high of $186.12. The company has a market cap of $15.92 billion, a PE ratio of 22.96, a price-to-earnings-growth ratio of 0.72 and a beta of 0.39. The business’s 50 day moving average is $166.91 and its two-hundred day moving average is $149.30.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings data on Friday, July 31st. The company reported $2.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.65 by $1.20. The business had revenue of $959.00 million during the quarter, compared to analysts’ expectations of $891.16 million. Neurocrine Biosciences had a net margin of 20.91% and a return on equity of 22.43%. Neurocrine Biosciences’s revenue for the quarter was up 39.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.65 earnings per share. As a group, equities analysts expect that Neurocrine Biosciences, Inc. will post 7.25 EPS for the current fiscal year.

Insider Transactions at Neurocrine Biosciences

In other news, insider Julie Cooke sold 36,937 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $156.22, for a total value of $5,770,298.14. Following the sale, the insider directly owned 22,374 shares of the company’s stock, valued at approximately $3,495,266.28. This trade represents a 62.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Ingrid Delaet sold 8,433 shares of the firm’s stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $178.72, for a total value of $1,507,145.76. Following the completion of the sale, the insider directly owned 16,225 shares in the company, valued at approximately $2,899,732. This represents a 34.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 116,636 shares of company stock worth $19,349,078. Corporate insiders own 4.60% of the company’s stock.

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.