TD Asset Management Inc Sells 19,700 Shares of Neurocrine Biosciences, Inc. $NBIX

TD Asset Management Inc reduced its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 16.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 103,623 shares of the company’s stock after selling 19,700 shares during the quarter. TD Asset Management Inc’s holdings in Neurocrine Biosciences were worth $14,547,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Dodge & Cox increased its holdings in shares of Neurocrine Biosciences by 0.6% during the 2nd quarter. Dodge & Cox now owns 5,566,814 shares of the company’s stock worth $699,693,000 after purchasing an additional 32,190 shares during the period. JPMorgan Chase & Co. raised its holdings in Neurocrine Biosciences by 11.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,730,152 shares of the company’s stock valued at $664,019,000 after acquiring an additional 468,405 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Neurocrine Biosciences by 40.5% in the 2nd quarter. AQR Capital Management LLC now owns 1,510,015 shares of the company’s stock worth $189,794,000 after acquiring an additional 435,385 shares during the period. Norges Bank bought a new stake in shares of Neurocrine Biosciences in the 2nd quarter worth approximately $122,278,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Neurocrine Biosciences by 1.8% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 789,715 shares of the company’s stock worth $99,259,000 after purchasing an additional 13,942 shares in the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Neurocrine Biosciences

In other news, 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 transaction of $4,830,280.00. Following the sale, the chief executive officer owned 140,407 shares in the company, valued at approximately $18,632,008.90. This represents a 20.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Darin Lippoldt sold 4,376 shares of Neurocrine Biosciences stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $159.65, for a total value of $698,628.40. Following the completion of the transaction, the insider directly owned 43,405 shares of the company’s stock, valued at $6,929,608.25. This represents a 9.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 46,966 shares of company stock valued at $6,474,616 in the last three months. Corporate insiders own 4.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on NBIX shares. JPMorgan Chase & Co. cut their target price on Neurocrine Biosciences from $177.00 to $176.00 and set an “overweight” rating for the company in a research note on Tuesday, February 17th. Wedbush increased their price objective on shares of Neurocrine Biosciences from $149.00 to $151.00 and gave the company an “outperform” rating in a research note on Thursday, February 12th. Truist Financial decreased their target price on shares of Neurocrine Biosciences from $169.00 to $140.00 and set a “buy” rating on the stock in a research report on Tuesday, February 17th. Needham & Company LLC dropped their price target on shares of Neurocrine Biosciences from $187.00 to $185.00 and set a “buy” rating for the company in a research report on Thursday, February 12th. Finally, 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 note on Friday, December 12th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $175.05.

Neurocrine Biosciences Stock Up 1.2%

Shares of NBIX stock opened at $132.25 on Monday. The company has a market capitalization of $13.27 billion, a P/E ratio of 28.38, a P/E/G ratio of 0.69 and a beta of 0.32. Neurocrine Biosciences, Inc. has a 12-month low of $84.23 and a 12-month high of $160.18. The firm has a 50-day moving average price of $135.90 and a 200 day moving average price of $140.57.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings data on Wednesday, February 11th. The company reported $1.88 earnings per share for the quarter, missing the consensus estimate of $2.36 by ($0.48). Neurocrine Biosciences had a return on equity of 16.48% and a net margin of 16.73%.The firm had revenue of $805.50 million for the quarter, compared to analyst estimates of $804.21 million. During the same period in the previous year, the business posted $1.69 EPS. The business’s quarterly revenue was up 28.3% on a year-over-year basis. As a group, research analysts expect 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.