BDF Gestion Invests $2 Million in Neurocrine Biosciences, Inc. $NBIX

Key Points

• BDF Gestion acquired 11,858 shares of Neurocrine Biosciences during the second quarter, valued at approximately $2 million. Institutional investors collectively own 92.59% of NBIX.
• Analyst sentiment remains favorable: multiple firms raised their price targets, and NBIX has a consensus rating of “Moderate Buy” with an average target of $201.50, versus a recent price of $166.06.
• Despite institutional buying, insiders sold 395,422 shares worth approximately $62.4 million over the last quarter, while corporate insiders retain 4.60% ownership.

BDF Gestion bought a new position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 11,858 shares of the company's stock, valued at approximately $1,999,000.

A number of other institutional investors have also recently bought and sold shares of NBIX. Ruffer LLP acquired a new stake in shares of Neurocrine Biosciences in the fourth quarter worth $2,479,000. Robinhood Asset Management LLC acquired a new position in shares of Neurocrine Biosciences during the 4th quarter valued at $5,715,000. Wesbanco Bank Inc. lifted its holdings in shares of Neurocrine Biosciences by 88.9% during the 4th quarter. Wesbanco Bank Inc. now owns 17,000 shares of the company's stock valued at $2,411,000 after acquiring an additional 8,000 shares in the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in Neurocrine Biosciences during the 4th quarter worth $1,866,000. Finally, Swedbank AB boosted its position in Neurocrine Biosciences by 6.7% during the 4th quarter. Swedbank AB now owns 584,129 shares of the company's stock worth $82,847,000 after purchasing an additional 36,800 shares during the period. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Neurocrine Biosciences Stock Performance

Shares of NBIX stock opened at $166.06 on Wednesday. The stock has a market capitalization of $16.88 billion, a price-to-earnings ratio of 24.35, a PEG ratio of 0.63 and a beta of 0.39. Neurocrine Biosciences, Inc. has a one year low of $122.14 and a one year high of $186.12. The company's 50-day simple moving average is $168.20 and its 200-day simple moving average is $146.95.

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 maintained a Buy rating, implying approximately 26.5% upside. Benzinga article
• Positive Sentiment: Truist Financial increased its target from $200 to $213 and assigned a Buy rating, representing roughly 28.3% potential upside. Benzinga article
• Positive Sentiment: Wedbush lifted its target from $185 to $194 and reiterated an Outperform rating, suggesting approximately 16.8% upside. Benzinga article
• Positive Sentiment: Additional analyst updates raised NBIX price targets to $196, $198, $210, $215, $220, $222, and $249. The breadth of these increases reinforces improving sentiment and may attract additional investor interest. American Banking News report American Banking News report American Banking News report

Wall Street Analysts Forecast Growth

NBIX has been the topic of a number of recent research reports. Canaccord Genuity Group boosted their price objective on Neurocrine Biosciences from $200.00 to $210.00 and gave the stock a "buy" rating in a research note on Monday. Weiss Ratings upgraded Neurocrine Biosciences from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday, July 28th. Wells Fargo & Company boosted their price target on Neurocrine Biosciences from $175.00 to $200.00 and gave the stock an "overweight" rating in a research report on Friday, July 17th. Royal Bank Of Canada upped their price target on Neurocrine Biosciences from $195.00 to $198.00 and gave the stock an "outperform" rating in a report on Friday, July 31st. Finally, Sanford C. Bernstein initiated coverage on shares of Neurocrine Biosciences in a research report on Friday, May 22nd. They issued an "outperform" rating and a $221.00 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $201.50.

Insider Activity at Neurocrine Biosciences

In other Neurocrine Biosciences news, Director Stephen A. Sherwin sold 25,000 shares of the stock in a transaction on Friday, June 5th. The shares were sold at an average price of $165.32, for a total transaction of $4,133,000.00. Following the sale, the director directly owned 15,860 shares of the company's stock, valued at approximately $2,621,975.20. This represents a 61.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Julie Cooke sold 36,937 shares of the firm's stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $156.22, for a total transaction of $5,770,298.14. Following the completion of the transaction, the insider directly owned 22,374 shares in the company, valued at $3,495,266.28. This represents a 62.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 395,422 shares of company stock worth $62,448,693 over the last quarter. 4.60% of the stock is owned by corporate insiders.

Neurocrine Biosciences Profile

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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