Amundi Raises Position in Neurocrine Biosciences, Inc. $NBIX

Key Points

• Amundi increased its Neurocrine Biosciences stake by 22.4% in the first quarter, bringing its holdings to 203,637 shares worth approximately $26.8 million. Institutional investors collectively own 92.59% of NBIX.
• Analysts remain broadly bullish, with several firms raising price targets; the stock has a “Moderate Buy” consensus rating and an average target of $201.50, above its reported trading price of $166.23.
• Neurocrine shares have recently traded down 0.3%, while insiders sold 395,422 shares valued at about $62.4 million over the past quarter, including major sales by director Kevin Charles Gorman and insider Jude Onyia under pre-arranged trading plans.

Amundi boosted its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 22.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 203,637 shares of the company's stock after purchasing an additional 37,287 shares during the period. Amundi owned approximately 0.20% of Neurocrine Biosciences worth $26,827,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Royal Bank of Canada grew its position in Neurocrine Biosciences by 36.7% during the 1st quarter. Royal Bank of Canada now owns 82,810 shares of the company's stock worth $9,158,000 after acquiring an additional 22,224 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Neurocrine Biosciences by 60.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,783 shares of the company's stock worth $1,647,000 after purchasing an additional 5,577 shares during the period. NewEdge Advisors LLC lifted its position in Neurocrine Biosciences by 56.3% in the first quarter. NewEdge Advisors LLC now owns 7,630 shares of the company's stock valued at $844,000 after purchasing an additional 2,747 shares during the last quarter. Empowered Funds LLC bought a new stake in Neurocrine Biosciences in the first quarter valued at approximately $1,333,000. Finally, Geneos Wealth Management Inc. boosted 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 valued at $25,000 after purchasing an additional 135 shares during the period. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Neurocrine Biosciences News Summary

Here are the key news stories impacting Neurocrine Biosciences this week:

• Positive Sentiment: Canaccord Genuity raised its price target from $200 to $210 and upgraded or reaffirmed its rating at “buy,” implying approximately 26% upside. Benzinga analyst price-target report
• Positive Sentiment: Truist Financial increased its target from $200 to $213 and assigned a “buy” rating, representing roughly 28% potential upside. Benzinga analyst price-target report
• Positive Sentiment: Wedbush raised its target from $185 to $194 and maintained an “outperform” rating, indicating about 17% upside. Benzinga analyst price-target report
• Positive Sentiment: Additional analysts also lifted their targets to $198, $196, $215, $210, $220, $249 and $222, reinforcing the positive trend in sell-side expectations. Neurocrine Biosciences price target raised to $198 Neurocrine Biosciences price target raised to $196 Neurocrine Biosciences price target raised to $215 Neurocrine Biosciences price target raised to $220 Neurocrine Biosciences price target raised to $249 Neurocrine Biosciences price target raised to $222

Neurocrine Biosciences Trading Down 0.3%

NASDAQ:NBIX opened at $166.23 on Tuesday. The company has a 50-day moving average price of $168.00 and a 200-day moving average price of $146.73. The stock has a market cap of $16.71 billion, a price-to-earnings ratio of 24.37, a P/E/G ratio of 0.70 and a beta of 0.39. Neurocrine Biosciences, Inc. has a 12 month low of $122.14 and a 12 month high of $186.12.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on NBIX shares. Leerink Partners raised their target price on shares of Neurocrine Biosciences from $160.00 to $170.00 and gave the stock an "outperform" rating in a report on Wednesday, April 22nd. Piper Sandler increased their price target on shares of Neurocrine Biosciences from $207.00 to $210.00 and gave the company an "overweight" rating in a research report on Friday. Sanford C. Bernstein began coverage on shares of Neurocrine Biosciences in a report on Friday, May 22nd. They issued an "outperform" rating and a $221.00 price target on the stock. Stifel Nicolaus boosted their price objective on shares of Neurocrine Biosciences from $188.00 to $215.00 and gave the company a "buy" rating in a research report on Friday. Finally, Cantor Fitzgerald boosted their price objective on shares of Neurocrine Biosciences from $210.00 to $215.00 and gave the company an "overweight" rating in a research report on Friday. Two analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have given 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 $201.50.

Insider Buying and Selling

In other Neurocrine Biosciences news, insider Jude Onyia sold 11,000 shares of the firm's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $160.25, for a total value of $1,762,750.00. Following the completion of the sale, the insider directly owned 25,846 shares in the company, valued at $4,141,821.50. This trade represents a 29.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kevin Charles Gorman sold 245,088 shares of Neurocrine Biosciences stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $154.33, for a total value of $37,824,431.04. Following the sale, the director directly owned 511,293 shares in the company, valued at approximately $78,907,848.69. The trade was a 32.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 395,422 shares of company stock valued at $62,448,693 over the last quarter. 4.60% of the stock is currently owned by insiders.

About Neurocrine Biosciences

Neurocrine Biosciences NASDAQ: NBIX is a biopharmaceutical company based in San Diego, California, focused on developing treatments for neurological, endocrine and neuropsychiatric disorders. Since its founding in 1992, the company has pursued a research‐driven strategy aimed at addressing unmet medical needs in movement disorders, reproductive health and central nervous system conditions. Neurocrine's operations encompass drug discovery, clinical development and commercialization activities.

The company's lead marketed product, Ingrezza™ (valbenazine), is indicated for the treatment of tardive dyskinesia, a movement disorder associated with long-term antipsychotic use.

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