Candriam S.C.A. lifted its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX – Free Report) by 32.2% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 344,883 shares of the company’s stock after purchasing an additional 83,957 shares during the period. Candriam S.C.A.’s holdings in Neurocrine Biosciences were worth $49,097,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Raleigh Capital Management Inc. grew its position in Neurocrine Biosciences by 561.8% during the third quarter. Raleigh Capital Management Inc. now owns 225 shares of the company’s stock valued at $32,000 after buying an additional 191 shares during the period. Basecamp Wealth Advisors LLC raised its position in Neurocrine Biosciences by 582.9% in the first quarter. Basecamp Wealth Advisors LLC now owns 239 shares of the company’s stock worth $31,000 after acquiring an additional 204 shares during the period. Cassaday & Co Wealth Management LLC bought a new position in Neurocrine Biosciences in the first quarter worth approximately $33,000. TrinityBridge Ltd purchased a new position in shares of Neurocrine Biosciences during the 2nd quarter worth $45,000. Finally, Transamerica Financial Advisors LLC purchased a new position in shares of Neurocrine Biosciences during the 2nd quarter worth $48,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.
Analysts Set New Price Targets
NBIX has been the subject of a number of recent research reports. Truist Financial boosted their price objective on shares of Neurocrine Biosciences from $200.00 to $213.00 and gave the company a “buy” rating in a research report on Monday, August 3rd. BMO Capital Markets decreased their target price on Neurocrine Biosciences from $164.00 to $150.00 and set a “market perform” rating on the stock in a report on Monday, October 12th. Morgan Stanley raised their target price on Neurocrine Biosciences from $183.00 to $185.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 3rd. Stifel Nicolaus lifted their target price on Neurocrine Biosciences from $188.00 to $215.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Finally, UBS Group cut their price target on Neurocrine Biosciences from $231.00 to $214.00 and set a “buy” rating for the company in a report on Tuesday, September 29th. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $202.32.
Read Our Latest Research Report on NBIX
Insider Transactions at Neurocrine Biosciences
In related news, Director George J. Morrow sold 7,200 shares of the business’s stock in a transaction dated Tuesday, November 3rd. The stock was sold at an average price of $166.37, for a total value of $1,197,864.00. Following the sale, the director directly owned 10,386 shares in the company, valued at approximately $1,727,918.82. The trade was a 40.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Matt Abernethy sold 2,311 shares of the company’s stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $157.20, for a total value of $363,289.20. Following the sale, the chief financial officer directly owned 42,808 shares in the company, valued at $6,729,417.60. This trade represents a 5.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 18,137 shares of company stock valued at $2,829,332. 4.60% of the stock is currently owned by insiders.
Neurocrine Biosciences Price Performance
Shares of NASDAQ NBIX opened at $164.63 on Friday. Neurocrine Biosciences, Inc. has a 1 year low of $122.14 and a 1 year high of $186.12. The firm has a fifty day moving average price of $147.22 and a 200-day moving average price of $148.05. The stock has a market cap of $16.66 billion, a PE ratio of 24.43, a price-to-earnings-growth ratio of 0.73 and a beta of 0.36.
Neurocrine Biosciences (NASDAQ:NBIX – Get Free Report) last released its earnings results on Monday, November 2nd. The company reported $3.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.91 by $1.38. Neurocrine Biosciences had a return on equity of 23.39% and a net margin of 18.98%. The firm had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter last year, the business posted $2.04 earnings per share. The firm’s revenue was up 41.3% on a year-over-year basis. On average, research analysts expect that Neurocrine Biosciences, Inc. will post 8.41 EPS for the current year.
About Neurocrine Biosciences
Neurocrine Biosciences is a biopharmaceutical company focused on developing and commercializing treatments for neurological, endocrine and related disorders. Founded in 1992 and headquartered in San Diego, California, the company conducts research and development alongside its commercial operations.
Its marketed medicines include INGREZZA (valbenazine), approved in the United States for tardive dyskinesia and chorea associated with Huntington disease, and CRENESSITY (crinecerfont), used with glucocorticoid replacement therapy to treat classic congenital adrenal hyperplasia in adults and children.
Neurocrine primarily serves the U.S.
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