Caisse DE Depot ET Placement DU Quebec Sells 348,711 Shares of Neurocrine Biosciences, Inc. $NBIX

Key Points

• Caisse DE Depot ET Placement DU Quebec reduced its stake in Neurocrine Biosciences by 46.6%, selling 348,711 shares and retaining approximately 0.40% of the company's stock valued at $44.2 million.
• Other institutional investors, such as Dodge & Cox and Wellington Management, significantly increased their holdings, indicating strong interest in Neurocrine Biosciences amid recent market activity.
• Neurocrine reported $1.06 earnings per share in its latest quarter, exceeding estimates, with revenue rising 16.5% year-over-year to $687.5 million.

Caisse DE Depot ET Placement DU Quebec lessened its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 46.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 399,648 shares of the company's stock after selling 348,711 shares during the quarter. Caisse DE Depot ET Placement DU Quebec owned about 0.40% of Neurocrine Biosciences worth $44,201,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of NBIX. Dodge & Cox raised its stake in 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 purchasing an additional 2,518,199 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Neurocrine Biosciences by 44.0% in the 1st 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 during the last quarter. AQR Capital Management LLC raised its position in shares of Neurocrine Biosciences by 2.9% during the 4th quarter. AQR Capital Management LLC now owns 1,896,891 shares of the company's stock valued at $258,926,000 after buying an additional 53,610 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Neurocrine Biosciences by 3.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,539,601 shares of the company's stock worth $170,281,000 after acquiring an additional 49,088 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Neurocrine Biosciences by 19.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,070,096 shares of the company's stock worth $146,068,000 after acquiring an additional 175,879 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors.

Neurocrine Biosciences Price Performance

NBIX opened at $136.84 on Wednesday. The stock's 50 day simple moving average is $130.55 and its 200 day simple moving average is $118.98. Neurocrine Biosciences, Inc. has a 1 year low of $84.23 and a 1 year high of $154.61. The firm has a market cap of $13.57 billion, a price-to-earnings ratio of 40.49, a PEG ratio of 0.97 and a beta of 0.25.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $1.06 earnings per share for the quarter, beating 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 firm had revenue of $687.50 million during the quarter, compared to the consensus estimate of $653.09 million. During the same quarter in the previous year, the company posted $1.63 earnings per share. The business's revenue was up 16.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

Insiders Place Their Bets

In related news, insider Ingrid Delaet sold 457 shares of the firm's stock in a transaction dated 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 directly owned 4,730 shares of the company's stock, valued at $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 available through this link. Also, Director Kevin Charles Gorman sold 106,322 shares of the company's stock in a transaction that occurred 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 transaction, 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 186,960 shares of company stock valued at $23,955,553 in the last quarter. Insiders own 4.30% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Piper Sandler raised their price target on Neurocrine Biosciences from $154.00 to $175.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. Stifel Nicolaus increased their price objective on Neurocrine Biosciences from $166.00 to $174.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Canaccord Genuity Group boosted their target price on Neurocrine Biosciences from $158.00 to $160.00 and gave the stock a "buy" rating in a research report on Tuesday, May 6th. BMO Capital Markets upped their target price on Neurocrine Biosciences from $96.00 to $115.00 and gave the stock a "market perform" rating in a research note on Tuesday, May 6th. Finally, The Goldman Sachs Group started coverage on shares of Neurocrine Biosciences in a research report on Thursday, July 10th. They set a "buy" rating and a $182.00 price target on the stock. Eighteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $159.50.

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.

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