Connor Clark & Lunn Investment Management Ltd. Has $31.25 Million Stock Position in Neurocrine Biosciences, Inc. $NBIX

Connor Clark & Lunn Investment Management Ltd. grew its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 345.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 248,633 shares of the company’s stock after purchasing an additional 192,768 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Neurocrine Biosciences were worth $31,251,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in NBIX. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Neurocrine Biosciences by 18.8% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 91,388 shares of the company’s stock valued at $11,487,000 after acquiring an additional 14,466 shares in the last quarter. Aviva PLC grew its position in Neurocrine Biosciences by 1,059.3% in the second quarter. Aviva PLC now owns 61,746 shares of the company’s stock worth $7,761,000 after acquiring an additional 56,420 shares in the last quarter. Los Angeles Capital Management LLC increased its stake in shares of Neurocrine Biosciences by 19,454.9% during the 2nd quarter. Los Angeles Capital Management LLC now owns 744,650 shares of the company’s stock worth $93,595,000 after purchasing an additional 740,842 shares during the last quarter. Prospera Financial Services Inc raised its holdings in shares of Neurocrine Biosciences by 43.3% during the 2nd quarter. Prospera Financial Services Inc now owns 3,835 shares of the company’s stock valued at $482,000 after purchasing an additional 1,158 shares in the last quarter. Finally, True Wealth Design LLC lifted its stake in shares of Neurocrine Biosciences by 1,215.4% in the 2nd quarter. True Wealth Design LLC now owns 342 shares of the company’s stock valued at $43,000 after purchasing an additional 316 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Neurocrine Biosciences Stock Down 1.6%

Shares of NASDAQ NBIX opened at $152.37 on Monday. Neurocrine Biosciences, Inc. has a 12 month low of $84.23 and a 12 month high of $157.67. The company has a market cap of $15.19 billion, a P/E ratio of 36.45, a P/E/G ratio of 0.94 and a beta of 0.22. The business’s 50 day moving average is $142.02 and its two-hundred day moving average is $131.63.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings data on Tuesday, October 28th. The company reported $2.04 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.46. Neurocrine Biosciences had a return on equity of 15.82% and a net margin of 15.95%.The company had revenue of $794.90 million during the quarter, compared to analysts’ expectations of $746.61 million. During the same period in the prior year, the business earned $1.81 earnings per share. Neurocrine Biosciences’s revenue for the quarter was up 27.8% compared to the same quarter last year. Sell-side analysts expect that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have commented on NBIX shares. Wall Street Zen raised shares of Neurocrine Biosciences from a “hold” rating to a “strong-buy” rating in a research report on Saturday, August 2nd. Royal Bank Of Canada raised their price objective on Neurocrine Biosciences from $156.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, October 29th. Truist Financial restated a “buy” rating and issued a $172.00 target price (up from $165.00) on shares of Neurocrine Biosciences in a report on Thursday, October 30th. Guggenheim increased their price target on Neurocrine Biosciences from $165.00 to $175.00 and gave the company a “buy” rating in a report on Friday, August 1st. Finally, Stifel Nicolaus boosted their price objective on shares of Neurocrine Biosciences from $174.00 to $183.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $170.26.

Insiders Place Their Bets

In other Neurocrine Biosciences news, CEO Kyle Gano sold 300 shares of the firm’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $141.97, for a total value of $42,591.00. Following the sale, the chief executive officer directly owned 140,407 shares in the company, valued at $19,933,581.79. This trade represents a 0.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director William H. Rastetter sold 18,000 shares of the business’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $151.82, for a total transaction of $2,732,760.00. Following the transaction, the director owned 40,360 shares in the company, valued at approximately $6,127,455.20. The trade was a 30.84% decrease in their position. The SEC filing for this sale provides additional information. 4.80% of the stock is owned by corporate insiders.

About Neurocrine Biosciences

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.