BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Purchases 7,326 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 62.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,056 shares of the company's stock after purchasing an additional 7,326 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Neurocrine Biosciences were worth $2,623,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. The Manufacturers Life Insurance Company lifted its holdings in shares of Neurocrine Biosciences by 18.3% during the fourth quarter. The Manufacturers Life Insurance Company now owns 116,955 shares of the company's stock valued at $15,410,000 after purchasing an additional 18,070 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Neurocrine Biosciences by 3.5% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 252,565 shares of the company's stock worth $34,834,000 after buying an additional 8,630 shares during the period. Vanguard Group Inc. increased its position in shares of Neurocrine Biosciences by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 9,710,328 shares of the company's stock worth $1,279,433,000 after acquiring an additional 150,485 shares in the last quarter. Perceptive Advisors LLC raised its holdings in shares of Neurocrine Biosciences by 70.1% during the fourth quarter. Perceptive Advisors LLC now owns 270,794 shares of the company's stock valued at $35,680,000 after acquiring an additional 111,552 shares during the period. Finally, Van ECK Associates Corp lifted its position in shares of Neurocrine Biosciences by 1,325.5% in the 1st quarter. Van ECK Associates Corp now owns 92,243 shares of the company's stock valued at $12,722,000 after acquiring an additional 85,772 shares in the last quarter. 92.59% of the stock is currently owned by institutional investors.

Insider Activity at Neurocrine Biosciences

In other Neurocrine Biosciences news, insider Julie Cooke sold 12,632 shares of the business's stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $153.26, for a total transaction of $1,935,980.32. Following the completion of the transaction, the insider now owns 18,202 shares of the company's stock, valued at approximately $2,789,638.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Julie Cooke sold 12,632 shares of the company's stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $153.26, for a total transaction of $1,935,980.32. Following the completion of the transaction, the insider now directly owns 18,202 shares in the company, valued at $2,789,638.52. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director William H. Rastetter sold 14,250 shares of the firm's stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $146.69, for a total transaction of $2,090,332.50. Following the completion of the sale, the director now owns 37,491 shares in the company, valued at approximately $5,499,554.79. The disclosure for this sale can be found here. In the last three months, insiders have sold 71,798 shares of company stock worth $10,676,096. 4.30% of the stock is owned by insiders.

Neurocrine Biosciences Stock Performance

Shares of NBIX stock opened at $115.06 on Friday. The stock's 50 day simple moving average is $135.50 and its 200 day simple moving average is $137.45. Neurocrine Biosciences, Inc. has a twelve month low of $103.63 and a twelve month high of $157.98. The company has a market capitalization of $11.58 billion, a price-to-earnings ratio of 31.70 and a beta of 0.37.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.63 EPS for the quarter, missing the consensus estimate of $1.15 by ($0.52). Neurocrine Biosciences had a net margin of 16.00% and a return on equity of 14.86%. The company had revenue of $590.20 million for the quarter, compared to analyst estimates of $545.98 million. During the same quarter last year, the business earned $0.95 EPS. The company's revenue for the quarter was up 30.4% on a year-over-year basis. On average, analysts forecast that Neurocrine Biosciences, Inc. will post 4.19 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Morgan Stanley lifted their price objective on shares of Neurocrine Biosciences from $160.00 to $170.00 and gave the stock an "overweight" rating in a research report on Friday, July 12th. Robert W. Baird lifted their price target on Neurocrine Biosciences from $157.00 to $180.00 and gave the company an "outperform" rating in a report on Friday, August 2nd. Royal Bank of Canada dropped their price target on Neurocrine Biosciences from $143.00 to $136.00 and set a "sector perform" rating on the stock in a research report on Thursday, August 29th. Needham & Company LLC restated a "hold" rating on shares of Neurocrine Biosciences in a research report on Thursday, August 29th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $155.00 target price on shares of Neurocrine Biosciences in a report on Monday, September 16th. Five investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Neurocrine Biosciences has a consensus rating of "Moderate Buy" and a consensus target price of $162.20.

Neurocrine Biosciences 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.