CIBC Private Wealth Group LLC Increases Stock Holdings in Neurocrine Biosciences, Inc. $NBIX

CIBC Private Wealth Group LLC boosted its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 17,250.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,981 shares of the company’s stock after acquiring an additional 7,935 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Neurocrine Biosciences were worth $1,120,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of NBIX. AlTi Global Inc. raised its stake in shares of Neurocrine Biosciences by 1.0% during the third quarter. AlTi Global Inc. now owns 6,828 shares of the company’s stock valued at $959,000 after purchasing an additional 70 shares during the period. Vanguard Personalized Indexing Management LLC boosted its stake in shares of Neurocrine Biosciences by 0.7% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 11,112 shares of the company’s stock valued at $1,560,000 after purchasing an additional 77 shares during the period. Diametric Capital LP boosted its stake in shares of Neurocrine Biosciences by 2.6% in the second quarter. Diametric Capital LP now owns 3,244 shares of the company’s stock valued at $408,000 after purchasing an additional 81 shares during the period. Great Lakes Advisors LLC grew its holdings in Neurocrine Biosciences by 2.4% during the 3rd quarter. Great Lakes Advisors LLC now owns 3,605 shares of the company’s stock valued at $506,000 after purchasing an additional 84 shares in the last quarter. Finally, Bessemer Group Inc. grew its holdings in Neurocrine Biosciences by 3.4% during the 3rd quarter. Bessemer Group Inc. now owns 2,871 shares of the company’s stock valued at $402,000 after purchasing an additional 95 shares in the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

Neurocrine Biosciences Stock Performance

NASDAQ:NBIX opened at $127.68 on Monday. The stock has a market cap of $12.81 billion, a price-to-earnings ratio of 27.40, a PEG ratio of 0.66 and a beta of 0.32. Neurocrine Biosciences, Inc. has a 1 year low of $84.23 and a 1 year high of $160.18. The business has a fifty day moving average of $132.34 and a 200-day moving average of $139.95.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings data on Wednesday, February 11th. The company reported $1.88 EPS for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.48). Neurocrine Biosciences had a net margin of 16.73% and a return on equity of 16.48%. The company had revenue of $805.50 million for the quarter, compared to analyst estimates of $804.21 million. During the same quarter in the prior year, the business earned $1.69 EPS. Neurocrine Biosciences’s revenue was up 28.3% compared to the same quarter last year. On average, equities research analysts predict that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

Insider Transactions at Neurocrine Biosciences

In related news, CEO Kyle Gano sold 36,400 shares of Neurocrine Biosciences stock in a transaction on Friday, January 16th. The stock was sold at an average price of $132.70, for a total value of $4,830,280.00. Following the transaction, the chief executive officer directly owned 140,407 shares in the company, valued at $18,632,008.90. The trade was a 20.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 4.30% of the company’s stock.

Wall Street Analysts Forecast Growth

NBIX has been the topic of a number of recent analyst reports. BMO Capital Markets cut their price objective on shares of Neurocrine Biosciences from $147.00 to $140.00 and set a “market perform” rating on the stock in a report on Thursday, February 12th. Mizuho raised their target price on Neurocrine Biosciences from $146.00 to $175.00 and gave the company a “neutral” rating in a research note on Friday, December 12th. Citigroup lifted their target price on Neurocrine Biosciences from $203.00 to $204.00 and gave the stock a “buy” rating in a research report on Thursday, February 12th. HC Wainwright cut their price target on Neurocrine Biosciences from $198.00 to $192.00 and set a “buy” rating on the stock in a research note on Thursday, February 12th. Finally, Wolfe Research began coverage on Neurocrine Biosciences in a report on Tuesday, February 24th. They issued an “outperform” rating and a $160.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $175.10.

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.