IFM Investors Pty Ltd Increases Holdings in Neurocrine Biosciences, Inc. $NBIX

IFM Investors Pty Ltd grew its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 7.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,835 shares of the company’s stock after acquiring an additional 1,453 shares during the period. IFM Investors Pty Ltd’s holdings in Neurocrine Biosciences were worth $2,493,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in NBIX. Dodge & Cox lifted its position in shares of Neurocrine Biosciences by 83.5% in the first quarter. Dodge & Cox now owns 5,534,624 shares of the company’s stock valued at $612,129,000 after acquiring an additional 2,518,199 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Neurocrine Biosciences by 44.0% in the first quarter. Wellington Management Group LLP now owns 2,097,981 shares of the company’s stock worth $232,037,000 after buying an additional 640,556 shares in the last quarter. Swedbank AB lifted its position in shares of Neurocrine Biosciences by 5,078.9% in the first quarter. Swedbank AB now owns 429,697 shares of the company’s stock worth $47,524,000 after buying an additional 421,400 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Neurocrine Biosciences by 1,405.2% in the first quarter. Assenagon Asset Management S.A. now owns 393,455 shares of the company’s stock worth $43,516,000 after buying an additional 367,315 shares in the last quarter. Finally, Braidwell LP lifted its position in shares of Neurocrine Biosciences by 32.2% in the first quarter. Braidwell LP now owns 1,191,925 shares of the company’s stock worth $131,827,000 after buying an additional 290,135 shares in the last quarter. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Neurocrine Biosciences news, insider Jude Onyia sold 59,819 shares of the company’s stock in a transaction on Wednesday, July 9th. The stock was sold at an average price of $130.46, for a total transaction of $7,803,986.74. Following the completion of the sale, the insider owned 18,289 shares in the company, valued at $2,385,982.94. This represents a 76.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ingrid Delaet sold 457 shares of the company’s stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $135.00, for a total value of $61,695.00. Following the sale, the insider owned 4,730 shares of the company’s stock, valued at approximately $638,550. This represents a 8.81% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 186,960 shares of company stock worth $23,955,553 over the last 90 days. Company insiders own 4.30% of the company’s stock.

Neurocrine Biosciences Stock Up 1.0%

Shares of NASDAQ:NBIX opened at $146.62 on Tuesday. Neurocrine Biosciences, Inc. has a 52-week low of $84.23 and a 52-week high of $154.61. The stock has a market cap of $14.54 billion, a P/E ratio of 43.38, a price-to-earnings-growth ratio of 1.05 and a beta of 0.28. The business’s 50 day moving average is $135.49 and its 200 day moving average is $122.43.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.08. Neurocrine Biosciences had a return on equity of 13.22% and a net margin of 13.88%.The company had revenue of $687.50 million for the quarter, compared to analysts’ expectations of $653.09 million. During the same quarter in the prior year, the firm earned $1.63 earnings per share. Neurocrine Biosciences’s revenue was up 16.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

NBIX has been the topic of a number of research analyst reports. Stifel Nicolaus boosted their target price on Neurocrine Biosciences from $166.00 to $174.00 and gave the stock a “buy” rating in a research report on Thursday, July 31st. Royal Bank Of Canada boosted their target price on Neurocrine Biosciences from $144.00 to $149.00 and gave the stock an “outperform” rating in a research report on Friday, September 5th. Truist Financial initiated coverage on Neurocrine Biosciences in a research report on Monday, July 21st. They issued a “buy” rating and a $163.00 target price on the stock. UBS Group boosted their target price on Neurocrine Biosciences from $152.00 to $174.00 and gave the stock a “buy” rating in a research report on Wednesday, July 9th. Finally, Wedbush reiterated an “outperform” rating on shares of Neurocrine Biosciences in a research report on Monday. Seventeen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $161.89.

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.