Financiere des Professionnels Fonds d investissement inc. Acquires New Shares in Neurocrine Biosciences, Inc. $NBIX

Key Points

• Financiere des Professionnels Fonds d'investissement inc. acquired 5,541 shares of Neurocrine Biosciences valued at approximately $696,000 in the second quarter.
• Major institutional investors like Dodge & Cox and Wellington Management have significantly increased their stakes in Neurocrine Biosciences, collectively acquiring millions in additional shares.
• Neurocrine Biosciences reported earnings of $1.06 per share, exceeding consensus estimates, with quarterly revenue rising by 16.5% year-over-year.

Financiere des Professionnels Fonds d investissement inc. purchased a new stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 5,541 shares of the company's stock, valued at approximately $696,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Geneos Wealth Management Inc. raised its stake in shares of Neurocrine Biosciences by 143.6% during the first quarter. Geneos Wealth Management Inc. now owns 229 shares of the company's stock worth $25,000 after buying an additional 135 shares during the last quarter. WPG Advisers LLC acquired a new stake in shares of Neurocrine Biosciences in the 1st quarter valued at about $32,000. Smallwood Wealth Investment Management LLC acquired a new stake in Neurocrine Biosciences in the 1st quarter valued at approximately $34,000. SVB Wealth LLC acquired a new stake in shares of Neurocrine Biosciences in the first quarter valued at approximately $35,000. Finally, Golden State Wealth Management LLC increased its stake in Neurocrine Biosciences by 116.9% in the 1st quarter. Golden State Wealth Management LLC now owns 397 shares of the company's stock valued at $44,000 after buying an additional 214 shares during the last quarter. 92.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on NBIX shares. The Goldman Sachs Group initiated coverage on Neurocrine Biosciences in a research report on Thursday, July 10th. They issued a "buy" rating and a $182.00 target price on the stock. UBS Group increased their price objective on shares of Neurocrine Biosciences from $152.00 to $174.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Truist Financial initiated coverage on Neurocrine Biosciences in a research note on Monday, July 21st. They issued a "buy" rating and a $163.00 price objective on the stock. Stifel Nicolaus lifted their price target on Neurocrine Biosciences from $166.00 to $174.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Finally, Wedbush boosted their price target on shares of Neurocrine Biosciences from $137.00 to $141.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Seventeen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $160.26.

Neurocrine Biosciences Trading Down 0.3%

NBIX stock traded down $0.43 during trading on Friday, reaching $145.23. 1,711,619 shares of the stock were exchanged, compared to its average volume of 722,550. The firm's 50 day moving average is $135.26 and its 200 day moving average is $122.07. Neurocrine Biosciences, Inc. has a twelve month low of $84.23 and a twelve month high of $154.61. The firm has a market cap of $14.40 billion, a P/E ratio of 42.97, a price-to-earnings-growth ratio of 1.05 and a beta of 0.28.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $1.06 earnings per share for the quarter, topping analysts' consensus estimates 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 analyst estimates of $653.09 million. During the same period in the prior year, the firm earned $1.63 earnings per share. Neurocrine Biosciences's revenue for the quarter was up 16.5% on a year-over-year basis. As a group, analysts predict that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

Insider Buying and Selling at Neurocrine Biosciences

In other news, insider Ingrid Delaet sold 457 shares of the stock in a transaction that occurred 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 completion of the sale, the insider directly owned 4,730 shares of the company's stock, valued at $638,550. This represents a 8.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kevin Charles Gorman sold 106,322 shares of the stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $126.41, for a total value of $13,440,164.02. Following the completion of the sale, the director directly owned 514,596 shares of the company's stock, valued at $65,050,080.36. The trade was a 17.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 186,960 shares of company stock valued at $23,955,553. Corporate insiders own 4.80% of the company's stock.

Neurocrine Biosciences Company 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.