Candriam S.C.A. Increases Holdings in Neurocrine Biosciences, Inc. $NBIX

Key Points

• Candriam S.C.A. increased its stake in Neurocrine Biosciences by 8.8%, bringing its total shares to 330,840, valued at approximately $36.6 million by quarter's end.
• Neurocrine Biosciences reported $687.5 million in revenue for the last quarter, a year-over-year increase of 16.5%, and beat earnings expectations with $1.06 per share.
• Over 92% of Neurocrine's stock is owned by hedge funds and institutional investors, reflecting significant investor confidence in the company.

Candriam S.C.A. increased its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 8.8% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 330,840 shares of the company's stock after purchasing an additional 26,868 shares during the quarter. Candriam S.C.A. owned about 0.33% of Neurocrine Biosciences worth $36,591,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in NBIX. OneDigital Investment Advisors LLC boosted its holdings in shares of Neurocrine Biosciences by 2.1% in the 4th quarter. OneDigital Investment Advisors LLC now owns 4,215 shares of the company's stock worth $575,000 after purchasing an additional 87 shares in the last quarter. Utah Retirement Systems boosted its holdings in shares of Neurocrine Biosciences by 0.6% in the 4th quarter. Utah Retirement Systems now owns 16,583 shares of the company's stock worth $2,264,000 after purchasing an additional 100 shares in the last quarter. DE Burlo Group Inc. boosted its holdings in shares of Neurocrine Biosciences by 2.2% in the 1st quarter. DE Burlo Group Inc. now owns 4,717 shares of the company's stock worth $522,000 after purchasing an additional 100 shares in the last quarter. GeoWealth Management LLC boosted its holdings in shares of Neurocrine Biosciences by 65.4% in the 4th quarter. GeoWealth Management LLC now owns 258 shares of the company's stock worth $35,000 after purchasing an additional 102 shares in the last quarter. Finally, Sheaff Brock Investment Advisors LLC boosted its holdings in shares of Neurocrine Biosciences by 4.8% in the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 2,619 shares of the company's stock worth $290,000 after purchasing an additional 120 shares in the last quarter. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Neurocrine Biosciences Stock Down 0.2%

NBIX stock opened at $132.81 on Wednesday. Neurocrine Biosciences, Inc. has a twelve month low of $84.23 and a twelve month high of $154.87. The firm has a market cap of $13.17 billion, a PE ratio of 39.29, a price-to-earnings-growth ratio of 0.96 and a beta of 0.25. The business has a 50 day moving average of $129.52 and a 200 day moving average of $119.34.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $1.06 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $653.09 million. During the same quarter last year, the company earned $1.63 EPS. The firm's revenue for the quarter was up 16.5% on a year-over-year basis. On average, research analysts expect that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

Insider Activity at Neurocrine Biosciences

In other Neurocrine Biosciences news, insider Jude Onyia sold 59,819 shares of the stock in a transaction on Wednesday, July 9th. The stock was sold at an average price of $130.46, for a total transaction of $7,803,986.74. Following the sale, the insider directly owned 18,289 shares in the company, valued at approximately $2,385,982.94. This trade represents a 76.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible 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 sale, the director owned 514,596 shares in the company, valued at approximately $65,050,080.36. This represents a 17.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 196,573 shares of company stock valued at $25,112,766 in the last 90 days. Corporate insiders own 4.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Stifel Nicolaus upped their price objective on Neurocrine Biosciences from $166.00 to $174.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Needham & Company LLC boosted their target price on Neurocrine Biosciences from $138.00 to $139.00 and gave the company a "buy" rating in a research note on Tuesday, May 6th. Evercore ISI lowered their target price on Neurocrine Biosciences from $190.00 to $185.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. JPMorgan Chase & Co. boosted their target price on Neurocrine Biosciences from $140.00 to $145.00 and gave the company a "neutral" rating in a research note on Thursday, July 31st. Finally, UBS Group boosted their target price on Neurocrine Biosciences from $152.00 to $174.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. Eighteen analysts have rated the stock with a Buy rating and three have issued 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 price target of $159.50.

About Neurocrine Biosciences

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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