CIBC Private Wealth Group LLC Grows Stock Position in Neurocrine Biosciences, Inc. $NBIX

CIBC Private Wealth Group LLC boosted its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 17,250.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,981 shares of the company’s stock after buying an additional 7,935 shares during the period. 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 hedge funds and other institutional investors also recently added to or reduced their stakes in NBIX. Geneos Wealth Management Inc. lifted its holdings in shares of Neurocrine Biosciences by 143.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock worth $25,000 after acquiring an additional 135 shares during the period. Golden State Wealth Management LLC boosted its position in shares of Neurocrine Biosciences by 120.5% in the third quarter. Golden State Wealth Management LLC now owns 183 shares of the company’s stock worth $26,000 after acquiring an additional 100 shares during the last quarter. Eastern Bank purchased a new stake in Neurocrine Biosciences in the third quarter valued at approximately $27,000. Quent Capital LLC purchased a new stake in Neurocrine Biosciences in the third quarter valued at approximately $32,000. Finally, MAI Capital Management increased its position in Neurocrine Biosciences by 101.2% during the second quarter. MAI Capital Management now owns 328 shares of the company’s stock worth $41,000 after purchasing an additional 165 shares during the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Neurocrine Biosciences Stock Down 1.6%

NBIX opened at $127.68 on Monday. Neurocrine Biosciences, Inc. has a 52-week low of $84.23 and a 52-week high of $160.18. The company has a 50 day moving average of $132.34 and a two-hundred day moving average of $139.95. The company has a market cap of $12.81 billion, a P/E ratio of 27.40, a P/E/G ratio of 0.66 and a beta of 0.32.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings data on Wednesday, February 11th. The company reported $1.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.36 by ($0.48). The business had revenue of $805.50 million during the quarter, compared to analyst estimates of $804.21 million. Neurocrine Biosciences had a return on equity of 16.48% and a net margin of 16.73%.Neurocrine Biosciences’s revenue was up 28.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.69 EPS. Research analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.

Insider Transactions at Neurocrine Biosciences

In other Neurocrine Biosciences news, CEO Kyle Gano sold 36,400 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $18,632,008.90. This trade represents a 20.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 4.30% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on NBIX. TD Cowen increased their price target on shares of Neurocrine Biosciences from $175.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday, December 5th. Mizuho upped their price objective on Neurocrine Biosciences from $146.00 to $175.00 and gave the stock a “neutral” rating in a report on Friday, December 12th. JPMorgan Chase & Co. increased their target price on Neurocrine Biosciences from $176.00 to $177.00 and gave the stock an “overweight” rating in a research report on Thursday, March 12th. Royal Bank Of Canada reduced their target price on Neurocrine Biosciences from $180.00 to $177.00 and set an “outperform” rating on the stock in a report on Thursday, February 12th. Finally, Wells Fargo & Company reduced their target price on Neurocrine Biosciences from $180.00 to $175.00 and set an “overweight” rating on the stock in a report on Friday, February 13th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average 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.