Neurocrine Biosciences, Inc. $NBIX Shares Bought by Aberdeen Group plc

Key Points

• Aberdeen Group plc raised its stake in Neurocrine Biosciences, Inc. by 40.7%, bringing its total shares to 220,344, worth approximately $24.37 million.
• Insider Jude Onyia sold 59,819 shares at an average price of $130.46, decreasing their ownership by 76.58%.
• Analysts have given Neurocrine Biosciences a favorable outlook, with 18 rating the stock as a "Buy" and raising price targets, suggesting a strong growth potential.

Aberdeen Group plc raised its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 40.7% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 220,344 shares of the company's stock after purchasing an additional 63,770 shares during the period. Aberdeen Group plc owned 0.22% of Neurocrine Biosciences worth $24,370,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in NBIX. Rockefeller Capital Management L.P. boosted its holdings in shares of Neurocrine Biosciences by 2.8% during the 4th quarter. Rockefeller Capital Management L.P. now owns 19,870 shares of the company's stock valued at $2,712,000 after purchasing an additional 549 shares during the last quarter. Townsquare Capital LLC bought a new position in shares of Neurocrine Biosciences during the 4th quarter valued at about $290,000. Mariner LLC boosted its holdings in shares of Neurocrine Biosciences by 23.0% during the 4th quarter. Mariner LLC now owns 20,639 shares of the company's stock valued at $2,817,000 after purchasing an additional 3,857 shares during the last quarter. Marshall Wace LLP bought a new position in shares of Neurocrine Biosciences during the 4th quarter valued at about $331,000. Finally, GeoWealth Management LLC boosted its holdings in shares of Neurocrine Biosciences by 65.4% during the 4th quarter. GeoWealth Management LLC now owns 258 shares of the company's stock valued at $35,000 after purchasing an additional 102 shares during the last quarter. Institutional investors own 92.59% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on NBIX. Morgan Stanley upped their target price on shares of Neurocrine Biosciences from $150.00 to $158.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. Truist Financial began coverage on shares of Neurocrine Biosciences in a research report on Monday, July 21st. They set a "buy" rating and a $163.00 target price on the stock. Piper Sandler upped their target price on shares of Neurocrine Biosciences from $154.00 to $175.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. Wedbush upped their target price on shares of Neurocrine Biosciences from $137.00 to $141.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Finally, JPMorgan Chase & Co. upped their target price on shares of Neurocrine Biosciences from $140.00 to $145.00 and gave the company a "neutral" rating in a research report on Thursday, July 31st. Eighteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Neurocrine Biosciences presently has a consensus rating of "Moderate Buy" and a consensus price target of $159.50.

Insider Activity

In other news, insider Ingrid Delaet sold 457 shares of the stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $135.00, for a total transaction of $61,695.00. Following the transaction, the insider directly owned 4,730 shares in the company, valued at approximately $638,550. This trade represents a 8.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jude Onyia sold 59,819 shares of the stock in a transaction that occurred on Wednesday, July 9th. The shares were sold at an average price of $130.46, for a total transaction of $7,803,986.74. Following the transaction, the insider owned 18,289 shares in the company, valued at approximately $2,385,982.94. This represents a 76.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 196,573 shares of company stock worth $25,112,766. Corporate insiders own 4.80% of the company's stock.

Neurocrine Biosciences Stock Up 0.1%

Shares of NASDAQ NBIX traded up $0.15 during midday trading on Friday, reaching $135.43. 547,980 shares of the company's stock traded hands, compared to its average volume of 1,047,942. The stock's 50 day simple moving average is $130.13 and its 200-day simple moving average is $119.00. Neurocrine Biosciences, Inc. has a one year low of $84.23 and a one year high of $154.87. The company has a market cap of $13.43 billion, a price-to-earnings ratio of 40.07, a P/E/G ratio of 0.98 and a beta of 0.25.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $1.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.98 by $0.08. Neurocrine Biosciences had a net margin of 13.88% and a return on equity of 13.22%. The firm had revenue of $687.50 million for the quarter, compared to the consensus estimate of $653.09 million. During the same period last year, the firm earned $1.63 earnings per share. The company's quarterly revenue was up 16.5% on a year-over-year basis. Equities analysts predict that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

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.